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News TriGranit completes sales in Poland and Hungary
06
Oct
2016

TriGranit completes sales in Poland and Hungary

by Ákos Budai
TriGranit has completed the sale of two assets. Millennium Towers, an office complex in Budapest, has been sold to CA Immo for €175 million and Bonarka City Center, a shopping mall in Krakow has been purchased by Rockcastle. The developer will remain the property manager of both assets.
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News Futureal prepares for new retail development in Budapest
04
Oct
2016

Futureal prepares for new retail development in Budapest

by Ákos Budai
Futureal Group has announced that their latest retail development in Budapest, Etele Plaza is now in negotiations with a number of anchor tenants and they are hoping to confirm the first brands by end of Q1 2017. Located in the south-western part of Budapest, Etele Plaza is expected to attract up to 40,000 shoppers a day. This will be the first large-scale retail development in the Hungarian capital since the opening of Árkád 2 in 2013.
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News Futureal Group and Erste Bank sign €10m credit agreement
29
Sep
2016

Futureal Group and Erste Bank sign €10m credit agreement

by Ákos Budai
Futureal Group has successfully refinanced its Corvin Corner office building by signing a credit agreement with Erste Bank Hungary for €10.2 million
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News German-based asset manager buys Budapest office building
29
Sep
2016

German-based asset manager buys Budapest office building

by Ákos Budai
Park Atrium – one of the most recognisable Budapest office buildings, leased to Deloitte, ING and Roche - was sold last week. German-based Asset Manager Corpus Sireo - on behalf of one of their managed accounts - has purchased the building from Accession Fund managed by GLL Real Estate Partners for an undisclosed price believed to be in excess of €50 million.
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News Wing starts construction of Ericsson’s Hungarian HQ
22
Sep
2016

Wing starts construction of Ericsson’s Hungarian HQ

by Ákos Budai
Ericsson’s new Hungarian headquarters are being built on a site overlooking the Danube by Wing Zrt. This investment is the first phase of the Hungarian Nobel Prize Winners Research & Development Park. The building, which has a total area of 24,000 square meters, will house the company’s largest research and development facility outside Sweden. The building will be constructed to the strict standards of the LEED Gold environmental awareness rating. 
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News New Budapest office building secures first tenant
22
Sep
2016

New Budapest office building secures first tenant

by Ákos Budai
The newly refurbished Buda Loft Offices has welcomed its first tenant, TransferWise. The building opened its doors officially in July, and offers 5 floors with an approximate total of 2,500 sqm for lease. Colliers International Hungary has been appointed as the exclusive leasing agent.
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News CA Immo purchases Millennium Towers in Budapest
19
Sep
2016

CA Immo purchases Millennium Towers in Budapest

by Ákos Budai
CA Immo has signed a sales and purchase agreement to acquire the Millennium Towers Class A office complex comprising of 70,400 sqm GLA in Budapest, Hungary. The transaction volume of the fully rented asset amounts to €175 million, the annual rental income reaches €12 million. 
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News Airport hotel development starts in Budapest
07
Sep
2016

Airport hotel development starts in Budapest

by Ákos Budai
The time capsule of the first hotel in Hungary with direct terminal access was placed at Ferenc Liszt International Airport this week. The 145-room ibis Styles Budapest Airport Hotel featuring conference facilities is scheduled for completion in 18 months.
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News DPD sets up new distribution centre in Budapest
01
Sep
2016

DPD sets up new distribution centre in Budapest

by Ákos Budai
Cushman & Wakefield represented one of the most dynamically growing ‘CEP’ (Courier, Express and Parcel) market participant, DPD Hungary Ltd. with their lease transaction to open up a 3,000 sqm distribution centre in Budapest. 
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News GTC launches two new projects in Budapest
01
Sep
2016

GTC launches two new projects in Budapest

by Ákos Budai
Construction commenced on GTC Hungary’s latest office development project. GTC White House is going to have a GLA of 21,500 sqm and is expected to be completed by end-2017. Concurrently, GTC Hungary will carry out a full interior refurbishment and technical reconstruction at Duna Tower Office.
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Latest news


New leases

  • LCP Properties has finalised two further leases for M Park Pionki. The CCC shoe shop will occupy 400 sqm in the building, while the area of the Xtreme Fitness gym will reach 600 sqm.
  • Two more companies have become tenants of Diuna, part of the Warsaw office portfolio of Syrena Real Estate and PineBridge Benson Elliot. Intrum has leased nearly 370 sqm and Carrier Chłodnictwo about 500 sqm in the complex on Taśmowa Street. In addition, WDX has extended its lease for nearly 500 sqm of space.
  • Castorama has opened its 103rd shop in Poland. The outlet in the compact Smart concept is located in the Dekada shopping centre, at Armii Krajowej Street in Grójec. It is a 2,000-square-metre retail space, an outdoor garden zone and an assortment of around 15,000 off-the-shelf products.

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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