ARTICLES LABELLED WITH TAG Hungary

Indotek Group continues its international expansion in Greece, entering the Athens real estate market with the acquisition of a three-star, 124-room hotel. The Oscar Hotel Athens is the Group's first acquisition in Greece, adding more than 6,000 square meters of space to its international real estate portfolio. The company's aim is to ensure that the hotel, which is currently closed, can reopen as soon as possible following a complete renovation, thus enabling it to be put to good use. With this acquisition, Indotek Group further strengthens its international real estate position in Greece and Southeastern Europe.

2021 was a busy year for Romanian real estate agency Griffes with 44,000 sqm of office space leased, a new project as co-investor and the company’s first international leasing mandate. Andreea Paun, Managing Partner and Founder of Griffes talked to Property Forum about the results of last year and shared the company’s expansion plans for 2022.

The first phase of the Corvin Innovation Campus, with almost 17,200 sqm of office space, has reached its highest point. Developed by Futureal and located in the immediate vicinity of Corvin Promenade in Budapest, the first phase of the 30,000 sqm complex is expected to be completed by the end of 2022, while the second phase is scheduled for completion in Q4 2023.

Newmark Group announced an agreement with Budapest-based VLK Consulting, which will become Newmark VLK Hungary. The announcement follows a recent agreement with a leading Polish commercial real estate firm operating as Newmark Polska.

Pan-European real estate investment manager Europa Capital, in partnership with commercial real estate investor and developer ConvergenCE, has acquired the Akadémia Business Center in Budapest. The acquisition has been completed on behalf of Europa Capital’s latest value add fund, Europa Fund VI.

CBRE has secured a property management mandate for CA Immo's entire Budapest office portfolio of 9 buildings, the company announced on LinkedIn.

CTP has started the construction of solar power plants across its entire portfolio, with the first phase of 6 buildings to be installed in Biatorbágy and Üllő, both located in the outskirts of Budapest.  The plants, each with a capacity of 500 kW, are scheduled to start operations in the first quarter of 2022, aiming to meet tenants' green energy needs while reducing energy costs. The project will be carried out by local contractors and will be developed by CTP as its own investment, entirely from its own resources.

The Resideo warehouse in Nagykanizsa, Western Hungary has recently changed hands, Cushman & Wakefield announced on LinkedIn.

Wing’s residential development brand Living is launching the third, and final, phase of Kassák Terrace project, located in District 13 of Budapest. The residential project offers future homeowners community services and smart solutions. Kassák Terrace is scheduled for completion in the first half of 2025.

Duna House has released its monthly transaction estimate, showing that there were 11,422 residential property transactions in Hungary in December 2021. The tally for the whole year shows 150,975 transactions, which marks a 15% growth over 2020.