ARTICLES LABELLED WITH TAG Hungary

Full-service logistics provider DB Schenker has prolonged its lease contract in CTP's logistics centre in the important regional city of Székesfehérvár. CTP Hungary was represented by 108 Real Estate, portfolio.hu reports.

Western Europe has been witnessing several city-in-the-city concepts and CEE is following suit. There are good examples across the continent but this special type of development needs meticulous preparation and high-class execution. Property Forum asked Zoltán Petrik, Head of Sales and Real Estate Development at EB Hungary Invest Ltd. about the most important challenges of preparing and materialising such complex projects.

Indotek is transferring the management of the Gordius Private Equity Fund to fellow Hungarian investor Diófa Fund Management, which will also take over the Belgrade office portfolio held by Indotek, Portfolio.hu reports. Indotek Group said it will use the funds released by the portfolio restructuring to finance domestic and international acquisitions. The company also announced that it had acquired a significant part of the Vörösmarty shopping complex in Budapest at the end of the year.

Mandarin Oriental Hotel Group has announced a new luxury hotel opening, following the renovation and rebranding of the former Gellért Hotel in Budapest. The renamed Mandarin Oriental Gellert Budapest is expected to open in 2027 with a focus on wellness.

Mota-Engil has reached an agreement with Hungarian company Duna Aszfalt for the sale of Mota-Engil Central Europe (MECE) and its subsidiaries. MECE is an active player in the construction industry and real estate development market in Poland.

VGP has announced the establishment of a new 50:50 Joint Venture named “Saga” with Areim, an independent fund manager and property owner headquartered in Stockholm. The Saga Joint Venture will focus exclusively on key European markets, including France, Germany, the Czech Republic, Slovakia, and Hungary.

One of Accor’s fastest-growing hotel brands across Europe, Tribe, opened the doors of its first hotel in Budapest. Together with Ibis, the newly constructed dual-branded hotel is located in Liberty, Wing’s mixed-use project. Ibis & Tribe Budapest Stadium offers 332 hotel rooms, split evenly by the two brands, and a complex set up with various F&B outlets, as well as meeting and fitness facilities.

The Hungarian property scene is welcoming a new development company brought to life by three experienced real estate market players - Mihály Schrancz, Tamás Ádány and Zsolt Gyöngyösi. Realis Development is part of Realis Group, a holding company active since 2013.

Compared to other cities, gross yields in Budapest, calculated from purchase prices and revenue from rent, are among the highest, which means the Hungarian capital is still a great destination for those investing in residential property. While the prices of apartments have skyrocketed in recent years in Hungary, residential property in Budapest is still quite inexpensive according to a joint study made by local developer Wing and research centre Eltinga.

The Hungarian subsidiary of Panattoni Group has agreed to build a 32,000 sqm logistics centre for a large retail operator in a BTS project. The new facility will be built in the suburbs of Budapest and is scheduled to open in September 2025.