ARTICLES LABELLED WITH TAG Hungary

Equilor Asset Management, owned by Hungarian developer BDPST Group, will buy the Sofitel complex which consists of a 4-star hotel and an adjacent office building, local news portal index.hu reports.

GLP has been operating in Central Eastern Europe for nearly three years. In that time, it has doubled its portfolio in the region, with a total of nearly 2.5 million sqm of building assets currently under management in Poland, the Czech Republic, Slovakia and Hungary. The company is planning new ventures that will reinforce its position among the region’s leading logistics real estate investors, developers and managers.

HelloParks, a subsidiary of Futureal Group announced a fourth major industrial development in the Budapest logistics market. This time the firm will start construction on the southern outskirts of the Hungarian capital. The new 60,000 sqm industrial property in Alsónémedi is the biggest industrial project in the firm's history and is scheduled to open in Q2 2024.

Chris Dinsdale will take up a position as president and CEO of the Calgary Airport Authority, the operator of Calgary International Airport in Canada, Budapest Airport announced.

Industrial developer CTP's net rental income amounted to €452.1 million in 2022, which was an increase of 38.3% year-on-year, while like-for-like rental growth was 4.5% last year, mainly driven by reversion on expiring leases and renegotiations, and supported by the 2021 indexation of 1.7%. The company's annual profit decreased by 22.4% from €1,025.9 million in 2021 to €796.5 million in 2022.

Transactions have increased but the general mood remained very cautious across all regions of the country, Duna House Group (DHG) reports.

Hungarian investor Appeninn Holding has signed contracts to buy the Kanizsa Centrum shopping centre in the southwestern city of Nagykanizsa and two strip malls (Zone Parks) in Székesfehervar and Zalaegerszeg. By acquiring these commercial properties the firm may comply with conditions made by Scope Ratings and thus hopes to get a higher rating.

According to Cushman & Wakefield, 2022 witnessed a recovery in commercial real estate investment activity in CEE, with the year closing marginally up compared to the previous year. Total investment volumes in Central and Eastern Europe came in at €10.7 billion, up by 6.6% year-on-year. With more than €5.7 billion worth of deals, Poland continued to lead the way across the region.

As part of its energy management and sustainability strategy, the real estate developer will reduce its domestic energy consumption by 20 per cent by 2025. 

Álmos Mikesy has been a member of the company board for the last two years and has now been appointed as Chairman and CEO of Diófa Asset Management.