As demand for hybrid working rises International Workplace Group (IWG) expands its footprint in Budapest and Debrecen with the addition of two new workspaces. The opening of these two facilities is scheduled for 2024.
Marriott International has added a new hotel to its global portfolio with the opening of Dorothea Hotel, Budapest, Autograph Collection. The new luxury hotel is located in Budapest’s District V and offers 216 rooms and suits.
Radisson Hotel Budapest BudaPart, the first upscale Radisson branded hotel in Hungary has opened its doors in the vibrant Újbuda district. This hotel serves both as a retreat as well as a business hub and offers new bar and restaurant options for locals and overnight guests.
Higher construction costs and the unfavourable economic situation in Europe are impacting the future development of new offices in the region, especially in capital cities like Prague, Bratislava, Budapest and Bucharest.
The office vacancy rate in Budapest increased to 13.2%, representing a 0.6 pps growth quarter-on-quarter and a 2.2 pps increase year-on-year. Two smaller buildings have been handed over while the demand has increased by 14% compared to the previous quarter, the Budapest Research Forum (BRF) reports.
Shopper Park Plus (SPP) shares are now available for subscription, paving the way for the first euro-based listing on the Budapest Stock Exchange (BSE). The shares of the regulated real estate investment pre-trust, which owns a portfolio of 18 retail units, will be offered for sale through OTP Bank and Concorde as distributors.
IHG Hotels & Resorts and Wing, a leading Hungarian property development and investment company have announced the signing of Hotel Indigo Budapest Andrassy and Holiday Inn Express Vagohid. Signed at the real estate trade fair Expo Real 2023, both properties mark brand debuts to Hungary, demonstrating investment and growth in the premium and essentials hotel segments.
Hungarian-owned B+N Referencia Ltd. has announced the acquisition of Italy-based Sagad. With this move the company has gained new industry knowledge, significant Western European experience and a new customer base.
The first phase of the Le Jardin residential park has secured a BREEAM 'Very Good' certification. This is the first such project to get this type of certification in Hungary.
iO Partners Serbia concluded its first office deal when Office Me, a coworking space, leased 1,100 sqm of office space in the Artklasa building in Belgrade.
With the support of Coreside Savills, video game development company Nordeus has decided to renew its lease for 6,100 square meters of office space within Green Heart Business Park, located in Belgrade.
Natura Bakery will lease almost 200 sqm of space on the ground floor of Poznan's Nowy Rynek E office building, developed by Skanska. The premises are scheduled to open in spring 2024.
New appointments
As of December 2023, Dorota Lachowska has joined the market research team at Knight Frank Poland as director of the department.
MLP Group is strengthening its sales team in Poland with the appointment of Przemysław Fijałkowski as Leasing Manager responsible for the lease of space in projects located in southern Poland.
Axi Immo is developing its Capital Markets Department. As of November 2023, Jakub Grabara was appointed as Associate Director in the Capital Markets Department. He will be responsible for transactional services, i.e., acquiring, purchasing, and selling commercial real estate.
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