ARTICLES LABELLED WITH TAG Budapest

French-owned international retailer Auchan Retail is poised to increase its commercial capacity in Hungary with a new, integrated logistics centre at Üllő Airport Logistics Centre near Budapest. The 87,200 sqm, greenfield facility will be the largest of its kind ever built in Hungary and is being developed by Goodman. The new hub will be key to Auchan Retail’s strategy to develop a multi-channel offer for Hungarian customers.

Appeninn Nyrt. announced the purchase of a historic building in the centre of Budapest for €7 million through the acquisition of holding company Plaza House. Dávid House, located on Andrássy Road and formerly known as Andrássy Palace, has 2400 sqm GLA. It was transformed into a Class A office building in 2001.

As of 01 March, Géza Barabás will lead the S Immo subsidiary in Budapest and hence be responsible for the Hungarian portfolio’s management.

Wing Zrt. has acquired a retail portfolio which includes the EuroCenter Óbuda shopping centre as well as two properties in the regional city of Szombathely. The company has over ten years of experience developing and managing retail properties and plans to carry out value-enhancing investments across the new portfolio with a particular focus on the Buda shopping centre. Wing intends to invest in improving the shopping centre’s existing strengths for both shoppers and tenants.

CPI Property Group announced the disposal of the Budaörs Office Park property in Hungary, located in the Western suburbs of Budapest, at an undisclosed price. The buyer is a Hungarian real estate fund which has not been named.

European office rental growth slowed to 0.4% over the quarter, though still posted a respectable 2.4% annualised growth. Budapest led the way with growth of 9.1% across the quarter, supported by strong demand, historically-low vacancy rates and a lack of Class A space. Demand for logistics space is supporting rental growth and driving yields lower across Europe, according to Cushman & Wakefield’s latest DNA of Real Estate report.

Futureal Group has become the first property developer in Europe to receive the WELL Building Platinum Precertification for three of its office building projects at the same time. Advance Tower, Corvin Technology & Science Park (Corvin 5) and Budapest One Business Park have been designed and will be operated to make a positive impact on employees’ health and wellbeing. The three office complexes located in Budapest, Hungary will offer over 100,000 square meters of office space in total.

Mol unveiled its new car sharing service Mol Limo in Budapest which operates a fully electric fleet. 300 Volkswagen up! cars are available for rent at a pay-per-minute basis.

Prologis announced a successful pilot with Platio, a Hungarian start-up that provides aesthetic and space-saving renewable energy systems by integrating high-performance solar cells into sidewalk paving elements made of recycled plastic. Prologis Park Budapest-Harbor has become the first logistics park in the world to integrate this green technology into its daily operations.

FLE GmbH, a company of the LFPI group, has acquired two new office properties in Budapest on behalf of the Luxemburg based fund FLE SICAV FIS. The parties to the transaction have agreed not to disclose the purchase price and other details.