ARTICLES LABELLED WITH TAG Hungary

Construction has just started in the second phase at East Gate Business Park. A total area of 9100 sqm will be available in the hall which offers space for production, assembly, fulfilment and storage purposes.

Primark's first Hungarian store which will be opened in NEPI Rockcastle's Arena Mall shopping centre in Budapest is part of the ongoing expansion of the global retail chain.

The Hungarian construction firm will offer modern office space after an extensive refurbishment of an educational facility in the downtown of Szeged, an important regional city in Hungary, szeged.hu reports.

As the European Union has proposed the move towards zero-emission buildings by 2030, a significant portion of the energy consumption of these projects should be covered by energy from renewable sources. This includes renewable energy produced on-site or nearby so property companies are starting to invest in such facilities in a bid to lower operating costs and meet targets under their ESG agendas. The investments in such capacities have been boosted by the high energy price environment and the need of property companies to enhance the security of power supplies.

Asset management firm Diófa and the Hungarian branch of Erste Bank have concluded a financing deal for seven years. The refinancing contract is worth €73 million, portfolio.hu reports.

The historic building will offer 4,600 sqm of office and 340 sqm of retail space in the very heart of the Hungarian capital. The opening is expected at the end of January.

The current economic downturn may result in more mergers and acquisitions in most of the CEE countries. Owners of some hotels and retail centres may divest their assets to minimize loss. Property Forum asked Csaba Polacsek, Partner, Advisory Services at PwC Hungary about the mood of the possible buyers and the remaining risks in the coming years.

Slovak asset management company IAD Investments has purchased nearly 270,000 sqm of land west of the Hungarian capital. IAD Investments joined forces with a branch of one of the largest industrial real estate developers in Europe to develop a completely new logistics park. It will be IAD's second project in the local development market.

The logistics facility will offer a total of 65,000 sqm of industrial and office space in Biatorbágy on the Western outskirts of the Hungarian capital.

Consumer prices were 24.5% higher on average in December 2022 than a year earlier which is a new record, compared to the last decade. The highest price rises were measured for electricity, gas and other fuels as well as food over the last twelve months. Prices increased by 14.5% on average in 2022 compared to the previous year, Hungarian Central Statistical Office reports.