ARTICLES LABELLED WITH TAG Hungary

06
Dec
2019

S Immo sells Budapest office building

by Property Forum
S Immo Hungary closed a major deal by selling one of its Budapest office buildings. The transaction was conducted after a longer negotiation period. Twin Office Center was part of the company’s portfolio for 14 years, operating with 100% occupancy. Neither the name of the buyer nor the transaction price has been disclosed.
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04
Dec
2019

CPI Property Group develops two hotels in Budapest

by Property Forum
With the checkout of the last guest on 4 November 2019 a new era has started in the story of the downtown building which in the past 20 years was known as the four-star Starlight Suiten Hotel Budapest. The new Mamaison Hotel will open its gates expectedly in mid-summer 2020. CPIPG also announced plans for a brand new 3-star property (located between the ex-Starlight and the Four Seasons Gresham Palace.
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29
Nov
2019

Declining interest for retail assets across CEE and Austria – Specialized investors take the lead

by Ákos Budai
According to the latest RICS Commercial Property Monitor, occupier and investment sentiment remains positive across main CEE markets, even though the Czech Republic has posted its most subdued set of readings in four years. In many countries, demand for retail assets fell on both the occupier and investment sides of the market. Based on rental and capital value projections, secondary retail is visibly suffering in Austria, Bulgaria, Poland and Romania.
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28
Nov
2019

Investment activity is booming but red flags are starting to appear

by Ákos Budai
There’s a lot of capital targeting real estate in Central & Eastern Europe but finding the right investment product remains a huge challenge. Panellists of the CEE investment panel at Portfolio Property Investment Forum 2019 in Budapest discussed the risks investors in the region need to keep in mind.
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27
Nov
2019

TriGranit’s Budapest development progresses

by Property Forum
The construction of Millennium Gardens, TriGranit’s newest office development in Budapest, has reached the ground floor level. Situated in a well-known cultural neighbourhood next to a green promenade by the Danube in Budapest, the 37,000 sqm GLA development will be handed over in Q2 2021.
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26
Nov
2019

HGA Capital sells Budapest office building

by Property Forum
HGA Capital, a member of the CARISTO Management Group, has sold the Oktogon House office building in central Budapest to a company belonging to RIMO Holding AG. The transaction price has not been disclosed.
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20
Nov
2019

Indotek Group to buy Budapest’s Sofitel hotel

by Property Forum
Hungarian investors Indotek Group plans to buy the 5-star Sofitel hotel in the centre of Budapest, according to hvg.hu. The transaction still requires the approval of the Hungarian Competition Authority.
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20
Nov
2019

Adventum International buys Budapest shopping centre

by Property Forum
Adventum International, a Malta-based boutique investment fund manager, has acquired the 66,000 sqm GLA Köki Terminal shopping centre in Budapest for its Adventum Quartum investment fund.
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18
Nov
2019

CTP plans new speculative developments in Hungary

by Property Forum
CTP has significantly expanded its portfolio both across the region and in Hungary in recent years. In response to brisk local demand, the company plans to prepare speculative developments of premium industrial space totalling 150,000 sqm in the Hungarian market in 2020. These projects will affect nearly all the industrial parks of local CTP.
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18
Nov
2019

Multi to refurbish Budapest shopping centre

by Property Forum
Multi Hungary announced its extensive refurbishment plans for Allee shopping centre in Buda, in the most densely populated district of Budapest. Multi will upgrade and renovate the 46,700 sqm shopping centre, while enhancing the tenant mix, interior and exterior design and customer services. Multi will start the execution phase in the second quarter of 2020 and expects to complete most of the work still in 2020.
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