In the eastern agglomeration of Budapest, next to the M0 ring road, HelloParks continues its expansion with a new development in Maglód. As a member of Futureal Group, the company has started preparations for the implementation of HelloParks Maglód’s first 46,000 sqm facility being built in the first phase, on a 46 ha site located in the vicinity of M4 and M5 highways and Liszt Ferenc International Airport. The industrial and logistics centre will include a range of facilities exceeding a total area of 193,000 sqm hat meet the requirements of the BREEAM sustainability standard. The announcement of the investment in Maglód follows the company’s recent purchase of its first 76 ha site, also situated next to the M0 highway in Fót, where HelloParks Fót logistics megapark is under development.

On 3 December 2020, GTC’s subsidiary, GTC Real Estate Development Hungary Zrt., issued 792 pieces of senior unsecured bonds, with the nominal value of HUF 50 million each and the total value of HUF 39.6 billion (approximately €110 million). The bonds will be fully guaranteed by GTC S.A.

The impacts of COVID-19 have been felt far and wide across industries, and especially so for the travel and tourism industry. Cushman & Wakefield has published its Q3 Budapest Hospitality Marketbeat report.  

Resolution Property has completed the acquisition of a ca. 37,200 sqm office portfolio in Budapest, Hungary. The portfolio is comprised of two fully let, recently refurbished, Class A office buildings, Margit Palace and Buda Square, acquired from CEE-focused Hungarian fund manager Adventum Ltd.

IHG (InterContinental Hotels Group) has signed a management agreement with Granit Polus Group for a compelling property to be re-branded to Crowne Plaza Budapest in 2021. The hotel, located in downtown Pest in the same building complex as the Westend City Centre shopping centre, is currently operated by Hilton under the name Hilton Garden Inn Budapest City Centre.

Hungary’s rental property market had an uneven month as prices were on average 5% lower than a year earlier according to the joint Rent Index of the Central Statistical Office (KSH) and real estate portal ingatlan.com. Rents were down 0.7% compared to August in Budapest in September, the last month of the season, while prices in other regions in Hungary remained level.

GTC has sold Spiral, a Class A office building located in Budapest, Hungary. The sale will generate €41 million of free cash.

HelloParks, Futureal Group’s recently established industrial and logistics property development and investment company, has acquired its first development plot in Fót, next to the junction of motorways M0 and M3. The 76 ha greenfield investment will house energy-efficient buildings that meet the BREEAM sustainability standard, with the first facility to be completed next year.

Hungarian property investor and developer Wing is expanding its East Gate Business Park, located next to Budapest, with a new 9,200 sqm hall. The handover of the building, which is 30% pre-leased, will take place in the second half of 2021.

Market Építő Zrt. has completed the construction of a new parcel distribution centre in Budapest for DPD Hungária Kft. The facility has doubled the logistics company’s domestic sorting capacity.