ARTICLES LABELLED WITH TAG Hungary

News Atenor completes sale of third Budapest building
05
Apr
2017

Atenor completes sale of third Budapest building

by Ákos Budai
Atenor confirmed the closing of the sale of the third building of the Váci Greens campus in Budapest to Hungarian real estate fund OTP Prime Ingatlanbefektetesi Alap and consequently the collection of the full sale price, i.e. €63.75 million. Váci Greens B comprises 25,300 sqm of office space and 399 basement parking spaces. 
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News CA Immo completes withdrawal from logistics by Budapest sale
05
Apr
2017

CA Immo completes withdrawal from logistics by Budapest sale

by Ákos Budai
With the sale of its 51% holding in the Aerozone logistics park to M7 CEREF I in Budapest, CA Immo has completed the strategic withdrawal from the logistics segment that began in 2012. Over the past few years, almost 500,000 sqm of logistical space in total has been sold in Poland, Romania, Hungary and Germany. 
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News Record high investment volume expected for Hungary in 2017
04
Apr
2017

Record high investment volume expected for Hungary in 2017

by Ákos Budai
In 2017, following its international assessment, CBRE has created a survey among real estate investors in Hungary asking them about their market expectations. At the CBRE Investment Breakfast investors turned out to be optimistic about the future. 43% of the respondents stated that the investment market might grow even by one-fifth from last year’s €1.5 billion and 23% stated that this year they might reach their highest turnover ever.
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News Hungarian developers to face delays and lower profit margins
31
Mar
2017

Hungarian developers to face delays and lower profit margins

by Ákos Budai
The current forecast for total construction volumes in Hungary shows increases of 8% and 12% for 2017 and 2018, respectively. The barriers for the realization of the developments are the rise of construction costs and the lack of skilled labour force. CBRE expects that these issues raise risks of delivery delays and decrease of developers’ profit margins.
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News CPI PG acquires €650 million retail portfolio from CBRE GI
30
Mar
2017

CPI PG acquires €650 million retail portfolio from CBRE GI

by Ákos Budai
CPI Property Group announced that its subsidiaries have acquired a retail portfolio with the value of approx. €650 million consisting of predominantly 11 shopping centres located in the Czech Republic, Hungary, Poland and Romania with a total leasable area of approximately 265,000 sqm from two funds managed by CBRE Global Investors. The closing of the deal was completed on 29 March, 2017. 
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News Having green buildings is not an advantage anymore
24
Mar
2017

Having green buildings is not an advantage anymore

by Ákos Budai
Obtaining a green certificate for modern office buildings has become a must in recent years. Still, developers, operators and tenants don’t fully realise what does a certification actually stand for and what kind of effect green solutions actually have on operating costs and productivity. The latest Green Talk, co-organised by RICS and HuGBC, focused on green buildings in Hungary. 
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News Hotel revenues grow strongly in Budapest and Prague
23
Mar
2017

Hotel revenues grow strongly in Budapest and Prague

by Ákos Budai
Resilient European economies, the continued popularity of Mediterranean leisure destinations and Europe’s importance for business travellers, should drive hotel occupancy and revenues in 2017, according to the latest PwC European Cities Hotel Forecast. Most European cities, including Budapest and Prague, are expected to see additional revenue growth in 2018.
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News Wing sells Budapest city logistics scheme for €29 million
21
Mar
2017

Wing sells Budapest city logistics scheme for €29 million

by Ákos Budai
Diófa Asset Management has purchased the South Pest Business Park from Wing Zrt. The new owner is Magyar Posta Takarék Property Investment Fund, which is Hungary's second largest domestic open-ended fund. The city logistics scheme, located in the 9th district, is 90% occupied.  The South Pest Business Park was transacted for app. €29.1 million (HUF9 billion).
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News Budapest showcases its strengths at MIPIM
15
Mar
2017

Budapest showcases its strengths at MIPIM

by Ákos Budai
Budapest was among the 50+ cities that showcased its strengths and potential to real estate professionals at MIPIM 2017 with an emphasis on new developments and investment opportunities. Two panel discussions were held during the first two days of the event, both of them moderated by Portfolio Property Forum, the media partner of the Budapest stand. Here are some takeaways from the first two days in Cannes. 
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News Futureal and Erste sign €45 million credit agreement
13
Mar
2017

Futureal and Erste sign €45 million credit agreement

by Ákos Budai
Futureal Group signed a credit agreement of €45.1 million with Erste Bank Hungary Zrt. in order to finance the realisation of the Corvin 5 office building. The first phase of the building is expected to be handed over at the end of 2018. 
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Latest news


New leases

  • A Bricomarché shop has opened in the Karuzela shopping complex in Biała Podlaska (Poland). This is the chain's first outlet in the city. The store occupies an area of over 3,000 sqm, the outdoor garden a total of 1,500 sqm, and a special building shed another 600 sqm.
  • A shop of the international brand Jysk has opened in Galeria Północna in Warsaw. The store will occupy an area of 1,500 sqm. This is the chain's three hundredth outlet in Poland.
  • A Change Lingerie women's lingerie store has opened in Gemini Park Tarnów (Poland). The premises occupied by the brand is 100 sqm in size.

New appointments

  • At the beginning of April 2024, Barbara Tomaszewska took over as Director of the first Aiden by Best Western in Łódź, Poland. She was previously Deputy Director at Golden Tulip Gdańsk Residence.
  • Oriol Casellas Deig has been appointed CFO of Redport Capital. He also joined the Board of Directors of the Romanian development company. Deig has over 20 years’ worth of experience in real estate.
  • InPost has appointed Javier van Engelen as Group CFO. He is an experienced manager, an expert in finance, who has held CFO positions in a number of international companies.

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