Skanska has leased the entire second phase of its H2Offices development project in Budapest while still under construction. Work began on the second building of the three-phase complex on Váci út in Q4 2024, with concrete structures now reaching the second floor level of the existing building. When completed, the second building will offer over 22,000 sqm of office space.
The roof structure of H2Offices' second phase is scheduled for completion in Q2 2026, with handover planned for Q1 2027. The complete office complex will total 67,000 sqm upon completion of the three-phase development.
The current H2Offices phase will be Hungary's first carbon-neutral office building in operation, and notably a speculative development not built to tenant specifications. The building is not connected to district heating and uses no hydrocarbons, with energy supplied instead by on-site solar panels, four-season heat pumps, and systems powered entirely by renewable electricity. Upon completion, the existing courtyard will expand with a 3,600 sqm public park featuring water features and vegetation.
During construction, Skanska uses low-carbon materials, including certified steel and concrete, which, according to estimates, reduces carbon emissions by over 1.2 million kilograms of CO2 equivalent compared to conventional values. This equals the carbon absorption of approximately 20,000 tree saplings grown for ten years.
For the first time, Skanska now requires environmental product declarations (EPD) from major building material suppliers during procurement. This initiative ensures complete supply chain transparency and traceability while educating the market and establishing new standards for sustainable construction practices.
