Forestay Group and Recorde Asset Management have purchased a 10,200 sqm office building in central Budapest from Generali Real Estate for an undisclosed sum.
Gránit Asset Management has been added to the Constitution Protection Office's list of qualified market operators, thus enabling its participation in the investor visa program aimed at modernizing and improving the quality of Hungary's real estate stock.
Czech real estate developer Urban Developers and Investors Ltd. Group (UDI Group) is making its first investment in Hungary, in a Budapest-based residential project.
Hungarian developer and investor Biggeorge Property Plc has purchased a 35,000 sqm development land plot in Budapest, from ECE, for an undisclosed sum.
Gránit Asset Management has completed the purchase of the historical Exchange Palace building in Budapest, from private investors, for an undisclosed sum.
Wing has announced the sale of the Honvéd Center office buildings in the Central Business District of Budapest to Greve Honvéd Kft, a subsidiary of Hamburg-based Greve Group, for an undisclosed amount.
Value of started construction projects in Hungary fell almost 17% down year-on-year in the first nine months of 2024, accounting for around HUF 1800 billion, according to EBI Construction Activity Report Hungary.
Revetas Capital announced that Bonarka for Business “B4B” has secured a lease extension contract with a company of Hitachi Group - GlobalLogic. The company, a leader in digital product engineering, has been a tenant in B4B since 2016 and leases in total of 6,500 sqm of office space in Building F.
GTC has extended its lease for 1,700 square meters of office space with pharmaceutical company Egis Polska. The company will continue its operations in the Corius building at the Aeropark Business Centre in Warsaw.
IMSAT, a company that offers integrated engineering, electrical, automation, and industrial technology solutions, has expanded its office space, within Bucharest-based The Bridge office building, to 3,800 sqm. The deal was brokered by Cushman & Wakefield Echinox.
New appointments
GTC has announced the appointment of Sebastian Junghänel to the Management Board as Chief Operating Officer, effective 2 September 2025. With more than 18 years of experience in the real estate sector across Germany and CEE, Sebastian brings strong expertise in asset management, project development, ESG and innovation. His career includes co-founding ZEITGEIST Asset Management, where he built a €1 billion portfolio, and senior management roles at HOCHTIEF Group. At GTC, Sebastian will focus especially on the oversight of our portfolio in Germany, which includes, includes 5,200 residential units in Kaiserslautern, Helmstedt, Heidenheim, and surrounding areas. His know-how will also support our development projects in Central and Southeastern Europe.
Justyna Filipczak has taken up the position of Executive Vice President of the CEE residential segment and joined YIT's management team.
Avison Young's Valuation and Advisory team in Poland has welcomed a new member, Michał Marynowski, who takes the role of Assistant Valuer. Among other experiences, he worked at the Court of Appeal in Warsaw, where he was responsible for verifying execution documentation for selected investments, updating data in the premises database for court buildings, and analysing tender bids. Proficient in GIS, AutoCAD, and Revit, he also has strong skills in interpreting planning documents.
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