Nordic Light Trio is located on the Pest side of the river Danube. It comprises a total leasable area of approximately 14,000 square meters and 221 parking spaces. 98% of space within the building is already leased, the anchor being a multinational healthcare company.

 

“Nordic Light Trio is Skanska’s commercial development business unit in CEE second transaction with an Asian investor, but its first with a South Korean buyer. This is further proof that Asian investors have a positive sentiment towards Europe and actively search for new investment opportunities on our continent. On the one hand, they find CEE countries attractive thanks to the political and economic stability that they offer, which is additionally guaranteed by being part of the European Union. And on the other, prospects for the region are also promising with return on investment being higher than in Western Europe. Asian investors are mostly interested in A-class properties developed by institutional developers, and Skanska is many times a first choice for all the newcomers," said Adrian Karczewicz, Head of Divestments at Skanska commercial development business unit in the CEE.

 

According to a report by Colliers, Asian investment capital is beginning to spread widely, also in Europe. Investors are not just interested in Western European markets, but also in other locations such as the CEE. The region attracts Asian investors with favorable yield premiums and higher returns on investments. Between 2017 – 2018, the inflow of Asian capital investment into the CEE-6 amounted to approx. €2.6 billion, focused mostly on the industrial, retail and office sectors.

 

“With yields in Western Europe breaking historic records, our interest is to constantly explore new markets whereby we can achieve high yields, simultaneously minimizing any trade-off in building quality or macro risk profile. In such sense, we strongly believe the CEE market is in favour of any other market. In the case of Budapest, Hungary, we have been following the market for the past year and a half with high interest. Considering both macro/micro economic figures and also the trend of the real estate market in Hungary, we are convinced of the significant potential for further growth and establishment," said Hyon Suk Jang, Executive Managing Director of Foreign Investment at JR AMC.

 

Being delivered in the second quarter of 2020, Nordic Light Trio is a part of the already completed Nordic Light office complex located in Váci Corridor, the most popular office hub in Budapest. Nordic Light Trio is aiming to achieve LEED Gold and WELL certifications.