ARTICLES LABELLED WITH TAG Hungary

Hungarian developer Defactoring Zrt. has announced the start of the construction of the next phase of the logistics project in Biatorbágy in the suburbs of Budapest. The handover is scheduled for next summer.

Industrial manufacturer giant JABIL expands its warehouse and production capacity in Hungary. The firm will get an extended production site at the regional city of Tiszaújváros in the Eastern part of the country. The large facility is being developed by the Hungarian company Infogroup.

Knight Frank Hungary has appointed Melinda Kovács as Associate Director. Specialized in office development and leasing transactions, she has a wide breadth of property knowledge, having gained experience throughout her career by working for international developers such as Skanska and Atenor as well as real estate advisory firms.

The world’s largest provider of hybrid working solutions with brands including Spaces, Regus, HQ and Signature, is expanding its Hungarian portfolio with 3 new openings, as the demand for hybrid working rapidly accelerates in the country.

Skanska has divested the first phase of its office complex H2Offices in Budapest, Hungary, to Erste Open-Ended Real Estate Investment Fund, represented by Erste Alapkezelő Zrt., for approximately €100 million. The transfer of the property is scheduled for the fourth quarter of 2023.

While international investors remain cautious, local players from CEE remain actively engaged, opportunistically monitoring the market, and taking advantage of reduced competition. Gábor Zeller, Senior Director, Capital Markets at iO Partners Hungary, talked to Property Forum about key investment trends and shared his market expectations for the rest of the year.

Demand for modern industrial space is still considerably high though European manufacturing companies are not taking home their production as quickly as earlier expected. Meanwhile, Asian firms in the automotive industry are increasingly seeking proper warehouses and logistics service providers. Property Forum asked Máté Szoboszlay, Director of Capital Deployment at Prologis Hungary about the change in e-commerce-related demand and the special needs of Asian tenants.

In 2023, Cordia International sold its 10,000th apartment, a result of nearly two decades of operation. The Hungarian property developer is now planning a major new urban regeneration project in Budapest.

Facility managers of large sports centres face mounting energy and labour costs too. But those costs can be lower if the property itself is enabled to host different kinds of events. Developers should involve all parties to reach that goal before the construction or in case of remodelling the building. Tibor Lak, Finance Manager of Budapesti Sportcsarnok Üzemeltető Kft., a subsidiary of Granit Polus, which has been running Budapest Arena, a huge multifunctional centre in the Hungarian capital, spoke with Property Forum about how to handle this problem.

Atenor announced the sale of the RoseVille office building located in District 3 of Budapest. The buyer is a Hungarian fund set up by international investors. This transaction is a significant achievement in the developers' operational plan and a major milestone in the Budapest investment market for the year 2023.