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News Prague sees increased interest from premium brands for high street units
24
Apr
2024

Prague sees increased interest from premium brands for high street units

by Property Forum
Prague is the only city in the CEE region to boast a prime high street, a shopping street with only the most prestigious global brands, according to Colliers. This location is Pařížská (Paris) Street, where currently 46 out of 48 available retail units are occupied.
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News Net office take-up grows significantly in Budapest
23
Apr
2024

Net office take-up grows significantly in Budapest

by Property Forum
The office vacancy rate increased to 13.8% in the first quarter of 2024, representing a 0.4 pps growth quarter-on-quarter and 1.5 pps increase year-on-year. However, the net take-up showed a healthy 25% growth, the Budapest Research Forum (BRF) reports.
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News Time Out Market to open new unit in Budapest
17
Apr
2024

Time Out Market to open new unit in Budapest

by Property Forum
Time Out Market Budapest is set to open in 2025 at Corvin Palace at Blaha Lujza Square. The historic department store first opened in 1926 and has recently been renovated back to its original neoclassical state and redeveloped as a mixed-use real estate property offering retail, leisure and a hotel, timeout.com reports.
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News Cordia launches €1 billion resi project in Budapest
17
Apr
2024

Cordia launches €1 billion resi project in Budapest

by Property Forum
Futureal Group’s subsidiary, Cordia Zrt. has kicked off its new mega project called Marina City, aiming to build 2,500 apartments, recreational facilities and several amenities on a former industrial site at the river Danube. The HUF 400 billion (€1 billion) project is a landmark development in the northern part of the Hungarian capital.
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News Landlords are under pressure from tenants and banks on ESG
10
Apr
2024

Landlords are under pressure from tenants and banks on ESG

by Ákos Budai
As development activity has slowed down, the focus is shifting to managing the existing stock across the whole commercial real estate market. Owners and other stakeholders have to adapt rapidly to serve changing demand from occupiers, said Benjamin Perez Ellischewitz MRICS, Principal at Avison Young in Hungary, while answering Property Forum’s questions at Mipim in Cannes.
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News Indotek Group buys shopping centre in Budapest
27
Mar
2024

Indotek Group buys shopping centre in Budapest

by Property Forum
Hungarian real estate developer and investor Indotek Group has closed the purchase of a downtown shopping centre in Budapest, online business site Portfolio reports, citing Cushman & Wakefield, the main assistant of the deal.
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News Tallest tower in Europe to be built in Budapest
19
Mar
2024

Tallest tower in Europe to be built in Budapest

by Property Forum
UAE-based property developer Eagle Hills plans to build a completely new city centre in Budapest. Plans contain several highrise offices, residential and retail units, including the tallest tower in Europe.
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News IWG to further expand in Hungary's office market
19
Mar
2024

IWG to further expand in Hungary's office market

by Property Forum
Flex office services provider IWG continues to grow its presence in Hungary, reaching a total of 25 locations by the end of 2024, including 18 overall in the capital.
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News Next phase of Millennium Gardens gets occupancy permit in Budapest
12
Mar
2024

Next phase of Millennium Gardens gets occupancy permit in Budapest

by Property Forum
TriGranit and Revetas Capital have officially obtained the occupancy permit for the second phase of the Millennium Gardens office complex. The two phases offer 37,000 sqm of office and retail space in the vicinity of the river Danube. 
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News Hard Rock Hotel to be rebranded as Pullman Budapest
29
Feb
2024

Hard Rock Hotel to be rebranded as Pullman Budapest

by Property Forum
Global hotel operator Accor Group will introduce its premium hotel brand Pullman after taking over the management role at Hard Rock Hotel in Budapest. The opening is scheduled for the end of March 2024.
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Latest news


New leases

  • Flowserve Hungary Services has leased 2,550 sqm of office space in the Liberty mixed-use building in Budapest. The company will move into this Autumn.
  • DB Logistic has signed a new lease agreement at SEGRO Logistics Park Gliwice. The company has decided to expand occupied space by a third to a total of nearly 5,000 sqm.
  • Low-cost airline flydubai has opened a new office Bucharest-based Eminescu Offices, in a deal brokered by Cushman & Wakefield Echinox.

New appointments

  • Prologis' Warsaw team has gained a new director. As of 1st of April, Marzena Tkaczuk has joined the team of development experts. As Capital Deployment Director, she will be responsible in particular for the implementation of build-to-suit projects.
  • Hagag Development Europe has named Ana-Maria Nemțanu as Leasing Director. She has over 17 years’ worth of experience in the local real estate industry.
  • Emilia Dębowska has been promoted to the position of Head of Sustainability Europe of Panattoni. In her new role, she will be responsible for Panattoni’s integrated sustainable development strategy encompassing both the company’s business goals and the development of its projects in Europe for every country in which the developer is active.

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