ARTICLES LABELLED WITH TAG Hungary

23
Jan
2020

MNB fund sells stake in Budapest development project

by Property Forum
Optima Investment Ltd., which manages the assets of the Central Bank of Hungary’s Pallas Athené Foundation, has sold the majority stake of its Budapest development project, located on the Váci Road office corridor, to internationally-based Chi Fu Investment Group.
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23
Jan
2020

Infogroup buys 40,000 sqm industrial park in Kecskemét

by Property Forum
Hungarian developer Infogroup has acquired the 33 ha Heliport Industrial Park in Kecskemét. The property offers nearly 40,000 square meters of industrial and logistics space, making this the largest acquisition in the company’s history. The transaction was made with the co-investment of the Kecskemét Development Fund.
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21
Jan
2020

Budapest’s office market sees record low vacancy once again

by Property Forum
Total demand on the Budapest office market in Q4 2019 reached 202,510 sqm, representing an 18% increase from the corresponding period in 2018, according to BRF’s latest figures. The vacancy rate has decreased to a record low of 5.6%, representing another 0.3 pps reduction quarter-on-quarter.
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21
Jan
2020

First tenant signed for Debrecen’s first modern office building

by Property Forum
EPAM Systems, a global product development, digital platform engineering, and digital and product design agency signed a 2,100 sqm new office lease contract in Debrecen’s newly developed Forest Offices in December 2019. EPAM Systems will be moving to the first floor of the five-storey office building in February 2020. Cushman & Wakefield advised Capstone Befektetési Alapkezelő Zrt representing, Garda Ingatlan Fejlesztő Befeketetési Alap the owner of Forest Offices, in the lease negotiations.
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20
Jan
2020

CPI rolls out new retail park brand in Hungary

by Property Forum
CPI Hungary has rolled out a new brand for its Hungarian retail park. Buy-Way Soroksár and Buy-Way Dunakeszi will now operate under the City Market brand.
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20
Jan
2020

Erste Real Estate Fund completes acquisition of Budapest building

by Property Forum
The acquisition of the second phase of Advance Tower located on the Váci road office corridor has been closed. With the current purchase, the entire office complex with a total GLA of over 20,000 sqm developed by Futureal Group has joined Erste Real Estate Fund’s portfolio. This is the first transaction in the Hungarian market which includes a WELL pre-qualified office building.
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16
Jan
2020

NEPI Rockcastle plans to extend Budapest shopping centre

by Property Forum
The area of Budapest’s Arena Mall could grow from its current 42,000 sqm to 60,000 sqm, following the property manager’s application for an extension last December, local daily HVG reports. If the plans are realised, Arena Mall will become the largest shopping centre in Hungary.
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15
Jan
2020

Hungary’s countryside retail market is booming

by Property Forum
Cushman & Wakefield contributed to the leasing of over 6,600 sqm prime retail warehouse area, and to the sales of 7,000 sqm countryside retail area in Q4 2019. 
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15
Jan
2020

REM Group leads refurbishment of Budapest building

by Property Forum
REM Group has acted as property advisors, project managers and now as property manager of the Korean Cultural Center (KCC) located at 30-34 Frankel Leo Street, in District II of Budapest. The building of more than 5,000 sqm was extensively refurbished to house the Korean Cultural Center as part of a relocation from their previous premises in the MOMentum Office building in District XII of Budapest.
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15
Jan
2020

Indotek Group acquires Diófa Asset Management

by Property Forum
Hungary’s Indotek Group has agreed to acquire the majority ownership of local investor Diófa Asset Management. As one of the leading investment management and real estate development groups of Hungary, Indotek Group – as a professional long-term investor – intends to provide the ownership background Diófa Asset Management is in need of, in order to strengthen its market position and to develop its portfolio of services on the markets of property management and investment products.
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