ARTICLES LABELLED WITH TAG budapest
13
Oct
2020
Oct
2020
Office vacancy rate continues to increase in Budapest
Budapest’s office vacancy rate has increased to 8.1% in Q3 2020, representing an increase of 2.2 pps year-on-year. 106 lease agreements were concluded during the quarter and the number of signed transactions dropped by 25% compared to the same quarter of 2019, according to BRF’s latest figures.
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07
Oct
2020
Oct
2020
Futureal’s Budapest retail project secures new tenants
Etele Plaza, developed by Futureal in Budapest’s Kelenföld area, has reportedly reached an occupancy rate over 75%. The shopping centre, planned to be completed by Q3 2021, will feature every Inditex brand available in Hungary, including a Zara fashion store featuring a brand new design concept.
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02
Oct
2020
Oct
2020
Codic’s Budapest office project gets certified
Green Court Office, a 20,000 sqm office building located in District 13 of Budapest has reached structural completion last week. A few days earlier, Green Court Office was awarded an interim BREEAM Excellent certification. The building is scheduled to be completed at the end of 2021.
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01
Oct
2020
Oct
2020
CTP to build 35,000 sqm park for Lenovo next to Budapest
CTP is building Lenovo's first European plant in Üllő, Pest County, in ctPark Budapest East industrial park. As part of the investment worth more than €18 million, CTP is building Lenovo's first high-tech European plant on nearly 35,000 sqm, the delivery of which is scheduled for spring 2021.
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24
Sep
2020
Sep
2020
Budapest hotels project 70% lower revenue in 2020
Most hotels in Budapest will see their revenues decrease by more than 70% compared to 2019 this year, while hotels outside the capital expect 20% to 40% lower revenues, according to a representative survey commissioned by the Hungarian Hotel and Restaurant Association.
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21
Sep
2020
Sep
2020
ConvergenCE to renovate Budapest office building
Central Business Center, an office building located in Inner Buda is undergoing a major renovation by ConvergenCE. Recognised as the highest quality office building in Budapest at the time of its construction in 1994, an upgrade for the 9,540 sqm property was long overdue.
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15
Sep
2020
Sep
2020
Vodafone to move HQ to Futureal’s office park in Budapest
As the next step in the integration of Vodafone Hungary and UPC, in the autumn of 2022, colleagues working in the company's Budapest offices will move to the Budapest One office park. The complex, developed by Futureal, will house Vodafone's new headquarters.
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07
Sep
2020
Sep
2020
Atenor secures building permit for Budapest office project
Atenor announced that RoseVille, its latest project in Budapest, located on Bécsi Road of District III has received the final building permit. The developer acquired the 6,604 sqm plot at 68-84 Bécsi Road last spring to build a 15,000 sqm Class A+ office building there.
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10
Aug
2020
Aug
2020
Skanska launches new office project in Budapest
Skanska invests about €65 million in the first phase of the new office complex H2Offices located in Budapest, Hungary. It will offer a total leasable area of about 26,000 square meters and is designed to obtain WELL and LEED certifications.
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30
Jul
2020
Jul
2020
Belgian developer acquires 30 ha plot near Budapest
Belgian property developer Weerts bought a 30-hectare lot from Erste Real Estate near Budapest, advisory firm VLK Cresa said in a statement.
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- Veranda Mall secures €36 million refinancing from CEC Bank
New leases
- Ford Polska has extended its lease agreement, until 2031, for nearly 1,200 sqm of office space in Warsaw's Diuna, part of the Syrena Real Estate portfolio. It is one of the first tenants of the Służewiec complex, having operated continuously at this location since February 2008.
- Cordon Electronics, a specialist in electronics and advanced technologies, has renewed its lease agreement at MLP Pruszków II, in the immediate vicinity of Warsaw. The company will continue to occupy a total of 7,770 sqm of modern space, a footprint that includes 458 sqm dedicated to office operations.
- mBank, the digital banking company in Poland, has decided to relocate its largest corporate branch in Lower Silesia to the Infinity office building in Wrocław. The company will occupy nearly 1,300 sqm on the fourth floor of the building. The tenant will move into the development owned by Avestus Real Estate and Alchemy Properties in January 2027.
New appointments
- Krzysztof Wróblewski (MRICS) has been named Head of Portfolio Management CEE at Peakside Capital Advisors, responsible for overseeing investments and managing the real estate portfolio. He succeeds Christopher Smith in this role.
- Garbe Industrial is reorganising its senior leadership team. CEO Christopher Garbe will now focus on strategic orientation and international activities. Jan Philipp Daun assumes leadership of the Development division alongside his existing Investment and Joint Venture responsibilities. Andrea Agrusow expands her remit to include Portfolio Management while retaining control of Commercial and Real Estate Management. Additionally, Michael Marcinek and Maik Zeranski will now jointly head the restructured Development unit as Management Board Members, succeeding Adrian Zellner.
- CPI Property Group is strengthening its leasing structure with the appointment of Agnieszka Baczyńska as Head of Leasing. In her new role, she will be responsible for shaping and executing the leasing strategy across the group’s office and retail portfolio in Poland. At the same time, Izabela Potrykus has been appointed Leasing Office Director. Baczyńska brings more than 20 years of experience in the commercial real estate market. Prior to joining CPI Property Group in 2022, she served as International Leasing Director at Neinver Polska.
