ARTICLES LABELLED WITH TAG Budapest

Wing has acquired Siemens’ office complex on Gizella Road in Budapest. The complex offers a total GLA of 40,000 sqm in eight buildings, most of which is office space, in addition to areas with industrial and educations functions. The property also has the potential for further development.

The final group of tenants has moved in to the first phase of Advance Tower, Futureal Group’s new office building on the Váci Road office corridor in Budapest, Hungary. The building, designed to support the health and comfort of over 1,400 employees, offers a GLA of 12,000 sqm. The second phase of the development is now structurally complete with handover expected in H2 2019.

Representing Magyar Posta Takarék Real Estate Investment Fund (MPTIA), Diófa Asset Management has signed a sales and purchase agreement with Portico Investment for a 27,500 sqm retail portfolio in Budapest and its agglomeration. Once regulatory approval is obtained, the size of the portfolio managed by Diófa will exceed 330,000 sqm.

Redwood Real Estate Holding has sold its recently delivered Ecodome office building in Budapest. The name of the buyer and the transaction price has not been disclosed.

Futureal Group has sold its portfolio of Corvin office buildings to real estate funds managed by OTP Real Estate Investment Fund Management. The recently closed transaction involves all of the operating office buildings built as part of Corvin Promenade, as well as two currently being constructed. The total of eight Class A buildings offer a combined GLA of nearly 80,000 square meters.

The Radisson Hotel Group announced the signing of a new property to Radisson Collection in Budapest, Hungary. With 71 guest rooms and suites, a first-class fitness center, restaurant, lobby bar and a further rooftop bar the hotel will open in mid-2020.

GTC’s latest development, GTC White House has achieved the highest, Platinum certification level under the LEED for Building Design and Construction rating scheme. As of today, this is the second office building which was awarded with this certification in Budapest. The certification process was advised by Colliers International Hungary’s Green Building Advisory Team.

Even though we are currently in the late phase of the real estate cycle, no significant drop is expected in the coming period. Jos Tromp MRICS, CBRE’s Head of EMEA Research shared his projections for the European property investment market at Portfolio Property Investment Forum in Budapest. These were his key statements and predictions.

Wing has begun preparations for the construction of another office building in one of Budapest’s most dynamically developing districts, right next to the recently inaugurated Telekom HQ. With a total floor space of 40,000 sqm, the Liberty Office Building will offer premium office and retail space. A distinctive feature and main appeal of the people-oriented building, constructed to BREEAM ‘Very Good’ certification requirements, is a plant-filled, two-storey high rooftop greenhouse spanning the wing along the boulevard and a skybar with a panoramic view to the Buda mountains.

Europe’s largest privately owned hostel chain, a&o is set to open its first property in Budapest. The company has been searching for suitable properties for a year and found the right building in the vibrant part of the 7th district, at Csengery street, with the help of Cresa