The office vacancy rate in Budapest increased to 11.3%, representing a 0.3 pps increase quarter-on-quarter and a 2.1 pps increase year-on-year. Net absorption has remained positive by the end of the fourth quarter, amounting to 53,480 sqm and reaching 158,510 sqm year-to-date, the Budapest Research Forum (BRF) reports.
The development firm has invested in the technical modernization of its buildings and reassured "BREEAM in Use" accreditation for the Váci Greens D complex.
The Hungarian property company is bolstering its sustainability efforts by entering an agreement with the fast-growing Norwegian Proptech company Varig Technologies.
Primark's first Hungarian store which will be opened in NEPI Rockcastle's Arena Mall shopping centre in Budapest is part of the ongoing expansion of the global retail chain.
Asset management firm Diófa and the Hungarian branch of Erste Bank have concluded a financing deal for seven years. The refinancing contract is worth €73 million, portfolio.hu reports.
The historic building will offer 4,600 sqm of office and 340 sqm of retail space in the very heart of the Hungarian capital. The opening is expected at the end of January.
The logistics facility will offer a total of 65,000 sqm of industrial and office space in Biatorbágy on the Western outskirts of the Hungarian capital.
The biggest company in Hungary got rid of its outdated office complex for HUF 6.3 billion in November last year, investigative news site K-Monitor reports.
The Polish office of the international legal network Eversheds Sutherland will occupy the 18th and partly the 17th floor of the Widok Towers office building in the centre of Warsaw. It will take an area of over 1,400 sqm in the building, owned by Commerz Real fund.
The office space in Warsaw's PZO Factory (owned by White Star Real Estate) has been fully leased. The tenant of approximately 380 sqm on the ground floor of the PZO II building has become the medical company Affidea.
Cuponation GmbH will lease more than 200 sqm in the LIFE Building (formerly Atrium Tower) in Warsaw, which is owned by Austrian company VIG Fund (a part of Vienna Insurance Group). JLL is responsible for the commercialization process of the building. Tenant was represented by CBRE.
New appointments
DLA Piper’s Prague office has appointed a Corporate partner with a focus on technology Tomáš Ščerba, Real Estate partner Michal Hink and Banking, Finance and Restructuring counsel Leo Javorek.
Following Magdalena Sekuła's resignation from the Supervisory Board of LPP, and the reduction of the number of Supervisory Board members below the statutory minimum, the Supervisory Board appointed Jagoda Piechocka as a Supervisory Board member.
Florin Suicescu has been named COO of Forty Management. With over 30 years of management experience, he has held senior positions in real estate and hotel developments.
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