ARTICLES LABELLED WITH TAG Hungary

The Hungarian Parliament voted in favour of the law on the public construction and investment regime with 136 votes in favour, 49 against and 9 abstentions. The law, among other things, makes the use of BIM mandatory for projects at or above the EU public procurement threshold, requires greater control over design and construction than before, and puts the whole life cycle of public works on a new footing.

In June 2023, only 7,120 residential properties changed hands in Hungary, according to the the monthly Transaction Number Estimate (DH-TB) of Duna House Group. This is a very low number again, so even though May was stronger, it seems that buyers are still waiting. We last saw so few sales in the first half of this year in 2014.

Panattoni has signed a new lease contract for the Panattoni City Dock Törökbálint complex, which opened in May. Food wholesaler and distributor Bidfood will lease two-thirds of Building A.

CTP has signed three new deals totalling 31,750 sqm at CTPark Budapest West and CTPark Komárom, both located close to Hungary’s capital city Budapest.

MBH Bank, a newly established Hungarian player in the local financial market, will launch a huge development project aiming to build its new headquarters in the most important office destination. The handover of the first phase is scheduled for Q1 2026.

Despite the pandemic, travellers and businesses have seen several large-scale real estate-related developments at Liszt Ferenc International Airport in Budapest during the past few years. There will be more huge investments over the coming years. Property Forum asked Rene Droese, Chief Development Officer about each of them, including reopening Terminal 1 and preparations for a new Terminal 3.

Hungarian property developer and investor Indotek Group currently owns real estate in Hungary and eight foreign countries and is actively screening opportunities in five others. The portfolio consists of office, retail, hotel and industrial properties. Property Forum asked Krisztián Hornok, Managing Director of International Transactions and Asset Management about the reasons for the large-scale expansion and ways of handling risks in this region.

The first tenants have moved into the new logistics park at Maglód and Fót which has been developed by the Hungarian company HelloParks, a subsidiary of Futureal Group. The MG3 building at Maglód offers 46,000 sqm of modern industrial space while at Fót 26,000 sqm of logistics space is available in the FT6 building.

Skylight City, an office building developed by Hungarian company Wing, has received a Very Good rating under the BREEAM In-Use sustainability certification scheme. The certification highlights the water and energy-efficient management and operation of the building.

One month before the handover, the RoseVille office complex obtained an occupancy permit in the northern part of the Hungarian capital. The building, developed by Atenor, offers 15,500 sqm of rentable space and will be opened in July this year.