ARTICLES LABELLED WITH TAG Hungary

The iconic 1967-built Hotel Budapest — locally known as Körszálló (meaning 'circle hotel') — has officially received demolition and construction permits for a near-complete rebuild. Most of the cylindrical tower and interior will be taken down and reconstructed to house around 50 luxury apartments, along with wellness facilities, restaurants, offices, and public amenities, 24.hu reports.

The industrial real estate market in CEE has entered 2025 with strong momentum. According to new market data released by iO Partners, the total stock of industrial space has reached 34.4 million sqm in Q1 2025, marking a 1.1% quarter-on-quarter increase. 

The Hungarian government has submitted for public consultation a proposal to amend the regulation commonly referred to as the “mall stop” (Government Decree No. 143/2018 (VIII.13.)), which governs the operation of commercial units larger than 400 sqm. The consultation period closed on 10 June. Legal experts from international law firm Taylor Wessing have analysed the potential implications of the proposed changes.

Tribe, part of the Accor hospitality group, opened in mid-May its second hotel in Hungary, near the Budapest airport.

As of 28 May 2025, Małgorzata Czaplicka has been appointed President of the Management Board of GTC S.A. She takes over from Gyula Nagy, who served as President of the Management Board since August 2023.

Adventum Group announced the signing of a refinancing for its KÖKI Shopping Center in Budapest.

Corvin Innovation Campus, the office complex developed by Futureal Group, has been awarded the highly coveted WELL Core Platinum certification.

Forestay Group has organised a topping-out ceremony of the Moxy Budapest Downtown, a 283-room hotel set to open in spring 2026 on Budapest's historic Kazinczy Street. 

Industrial developer HelloParks has announced that all of its warehouse buildings in Hungary comply with the stringent requirements of the EU Taxonomy, making it the sole recipient of this recognition in the country to date.

The Hungarian construction sector experienced a significant slowdown in Q1 2025, with the value of new construction starts dropping sharply compared to the previous quarter and the same period last year. This weak start comes despite a surge in activity at the close of 2024, driven by major project launches.