Skanska has opened the 27,000 sqm first phase of the H2Offices complex on Budapest's Váci Road office corridor. Construction of the second phase may start in H2 2023, with the third and final to be handed over in 2026 or 2027.
There are several factors which put a break on the revival of the housing markets. Property Forum asked Guy Dymschiz, Co-Founder and Co-CEO of Duna House Group, active in Hungary and Poland, about the necessary steps from the states and the developers to overcome the mounting difficulties.
The office vacancy rate in Budapest increased to 11.3%, representing a 0.3 pps increase quarter-on-quarter and a 2.1 pps increase year-on-year. Net absorption has remained positive by the end of the fourth quarter, amounting to 53,480 sqm and reaching 158,510 sqm year-to-date, the Budapest Research Forum (BRF) reports.
Industrial developer CTP has leased 2,800 sqm to the food supplements manufacturer Sun Wave Pharma in the industrial park CTPark Bucharest South, located in southern Bucharest.
INATECH Packaging, the protective packaging and insulating materials supplier, has leased 2,300 sqm of office and warehouse spaces in CTPark Oradea Cargo Terminal.
SIDE GRUP, the Romanian distributor of cleaning and hygiene, has leased 1,500 sqm in CTPark Oradea Cargo Terminal. The deal was brokered by real estate consultancy JLL.
M Core appoints Magdalena Kowalewska as the new Chief Operating Officer at LCP Properties, Poland. This comes at the same time that Krystian Modrzejewski has accepted a post as the Group Head of Expansion for Poland, where he will be responsible for realising the opportunity for land and asset acquisition in aid of portfolio growth. LCP Properties Poland is part of the M Core group, which brings together family-owned companies that invest in and manage real estate. It comprises LCP, Proudreed, Sheet Anchor, GIPAM and Evolve Estates.
Michał Kloch was appointed as Cost Management Lead, Poland in the Project & Development Services team of Cushman & Wakefield with effect from 1 March. In his role, he heads a team of quantity surveyors and is responsible for oversight of construction costs during all project delivery phases and for preparation of cost analyses and reports.
Two people have joined the REINA Company. Since February this year, Michał Baranowski acts as Business Development Manager and Joanna Turalska supports the work of the team as Leasing & Team Coordinator.
REINA Company specialises in comprehensive transactional and echnical consultancy for organisations using office space.
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