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News Portfolio acknowledges the best projects and the biggest deals in Hungary
30
Nov
2016

Portfolio acknowledges the best projects and the biggest deals in Hungary

by Ákos Budai
Six companies – Horizon Development, Wing, CBRE, CA Immo, JLL and TriGranit – were presented with Portfolio Property Awards at Property Investment Forum 2016 in Budapest. Portfolio acknowledged the Project of the Year, the Concept of the Year, the Leasing Transaction of the Year and the Investment Transaction of the Year for the seventh time.
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News Office developers get busy in Budapest
24
Nov
2016

Office developers get busy in Budapest

by Ákos Budai
During the third quarter, three new office buildings were completed with a total area of 39,570 sqm – reports JLL in their latest Budapest Office Market Pulse. The increasing development activity has had an effect on the vacancy rate as well: the Budapest office market’s vacancy rate made a slight increase to 10.9% as a result of the vacant space in the newly completed buildings and in the buildings from where the tenants moved out.
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News CTP completes acquisition of Westlog in Hungary
24
Nov
2016

CTP completes acquisition of Westlog in Hungary

by Ákos Budai
CTP continues expanding in Central Europe, with the recent acquisition of Westlog DC (Distribution Centre) 10 km from Budapest’s city centre. The park is situated west of the city, directly on the M1 motorway, near the junction of the main north-south M7 and the M0 ringroad.
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News Budapest is back on the acquisition map
24
Nov
2016

Budapest is back on the acquisition map

by Ákos Budai
2016 brought about yet another turnaround on the Hungarian commercial property market. Real estate professionals from the country and all over CEE came together in Budapest at Property Investment Forum 2016, organised by Portfolio. The biggest and most important event of the Hungarian real estate market was held for the 12th time this year, attracting over 700 visitors and nearly 100 speakers.
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News Budapest mall appoints C&W as property manager
23
Nov
2016

Budapest mall appoints C&W as property manager

by Ákos Budai
As of November 1 2016, Cushman & Wakefield has been appointed to undertake property management and leasing services at Mammut Shopping and Entertainment Centre in Budapest. The over 104 000 sqm, Mammut Shopping and Entertainment Centre,comprising two phases, is the largest shopping centre in Buda, with over 350 units and parking premises. The first phase, Mammut I. was handed over in 1998, the second phase, Mammut II. was delivered in 2001. 
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News Prologis to start new BTS developments near Budapest
21
Nov
2016

Prologis to start new BTS developments near Budapest

by Ákos Budai
Prologis has signed a new lease agreement for 13,800 square metres and will deliver two new facilities totalling 21,000 square metres at Prologis Park Budapest-Sziget for Waberer’s. The transactions with new customer Waberer’s include 13,800 square metres at DC7A, a 21,500 square metre speculative facility that is now fully let two months after completion and 21,000 square metres at DC7B and DC8 to be developed to the customer’s specifications and scheduled for completion in the second quarter of 2017. 
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News GLL acquires Váci 1 in Budapest
21
Nov
2016

GLL acquires Váci 1 in Budapest

by Ákos Budai
GLL acquired the multi-purpose heritage building that combines retail-, office- and service functions on 13,750 sqm at Vörösmarty Square in downtown Budapest. The seller of the recently completed UNESCO World Heritage listed premium asset is Hungarian developer Horizon Development.  The property has been added to the portfolio of Bayerische Versorgungskammer and will be managed by Munich-based real estate fund manager group GLL Real Estate Partners.
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News Promenade Gardens welcomes its anchor tenant
16
Nov
2016

Promenade Gardens welcomes its anchor tenant

by Ákos Budai
Celanese Hungary Ltd. is setting up its new 4,200 sqm headquarters in Promenade Gardens as of April 2018. The decision was made prior to the foundation stone being laid for the new office building on inner Váci út. The regional financial and logistics business service center of the international company found its new home on the 1st and 2nd floors of the modern, 4-tower building (in cores B, C and D).
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News Foundation stone laid for largest Budapest office building
16
Nov
2016

Foundation stone laid for largest Budapest office building

by Ákos Budai
The foundation stone for the new Magyar Telekom Headquarters has been laid in Budapest on 15 November. The 58,000 sqm office building is expected to be completed in the second half of 2015 and will be leased by Magyar Telekom for at least 15 years. Upon completion it will become the largest single-block office building in Hungary.
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News Bucharest and Budapest seem attractive from London
14
Nov
2016

Bucharest and Budapest seem attractive from London

by Ákos Budai
General optimism, attractive investment opportunities and more capital characterises the Central and Eastern European property market that is now considered a favourable investment destination by international investors. The second Emerging Europe Property Forum, co-organised by Portfolio Property Forum and RICS, took place on 8 November at the RICS HQ in London. 
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Latest news


New leases

  • Flowserve Hungary Services has leased 2,550 sqm of office space in the Liberty mixed-use building in Budapest. The company will move into this Autumn.
  • DB Logistic has signed a new lease agreement at SEGRO Logistics Park Gliwice. The company has decided to expand occupied space by a third to a total of nearly 5,000 sqm.
  • Low-cost airline flydubai has opened a new office Bucharest-based Eminescu Offices, in a deal brokered by Cushman & Wakefield Echinox.

New appointments

  • Prologis' Warsaw team has gained a new director. As of 1st of April, Marzena Tkaczuk has joined the team of development experts. As Capital Deployment Director, she will be responsible in particular for the implementation of build-to-suit projects.
  • Hagag Development Europe has named Ana-Maria Nemțanu as Leasing Director. She has over 17 years’ worth of experience in the local real estate industry.
  • Emilia Dębowska has been promoted to the position of Head of Sustainability Europe of Panattoni. In her new role, she will be responsible for Panattoni’s integrated sustainable development strategy encompassing both the company’s business goals and the development of its projects in Europe for every country in which the developer is active.

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