Total demand for industrial spaces in Hungary fell 11.5% to 483,000 sqm in the first three quarters versus the same period of last year. Net take-up, meanwhile, was up 3% to 384,980 sqm in the same interval, according to the Budapest Research Forum (BRF).

Living, Wing’s residential development arm, has secured a financing worth HUF 12 billion from Erste Bank for the construction of the Római Park residential project in Buda. Construction works started last August, with completion expected in 2026.

IWG has announced the opening of a new flexible workspace project in Budapest under the Regus brand in partnership with Proform Ingatlanbefektetési Zrt. 

Living, Wing’s residential development arm, has completed Kassák Terrace, the third phase of Kassák Project in District 13 of Budapest, featuring 246 apartments.

Atenor has started to implement a rebranding of its Budapest-based office complex Olympia, formerly known as Aréna Business Campus, in a bid to accommodate new workplace trends, such as remote work and hybrid schedules.

Forestay Group has hosted a traditional groundbreaking ceremony for its latest development, the Marriott Moxy Budapest, which will be the first hotel under this brand in Hungary. 

Intertrans Hungaria Kft, one of Hungary's largest international transport companies with operations across Europe, has leased 9,900 sqm of logistics space at CTPark Budapest Vecsés.

The ZenGarden office building in Budapest, managed by ConvergenCE, is close to full occupancy as of mid-September, driven by a mix of new leases and renewals.

SAP Hungary has recently renewed its office lease agreement for over 18,000 sqm at Graphisoft Park, where the software company has been present in the past 18 years.

Over the last two and a half decades, a lot has changed in the Hungarian real estate market. Spectacular investments have shaped the image of the capital, while the modern real estate market as we know it today has gradually emerged. The biggest players were already present in the late 90s, including WING, which is 25 years old this year. During this time, the group has undergone dynamic changes, reflected not only in its developments in Budapest but also in its presence on international markets. We talked to Noah Steinberg, CEO of WING Group and Chairman of the Supervisory Boards of Echo Investment in Poland and Bauwert in Germany, about the main challenges of the past 25 years, the strategy that has been most effective in addressing them and the plans the group has for the next 25 years.