ARTICLES LABELLED WITH TAG Hungary

The structure of Wing's Liberty office building has been completed on schedule, bringing the project one step closer to completion in 2023. Located on Könyves Kálmán körút in District 9, the multifunctional office building will host a dual-branded ibis-Tribe hotel after its completion.

The HelloParks Fót warehouse project developed by Hungarian firm Futureal Group will consist of several buildings on the northern outskirts of Budapest. More than fifty percent of the first, already-open phase is now leased. 

Avison Young successfully mediated the disposal of two architecturally significant assets in Budapest's CBD on behalf of a US family office to local development company WING. Both are fully leased on a long-term basis.

Latvia-based Mogotel Hotel Group is the largest hotel operator in the Baltics and it continues to expand outside the region, having recently entered the Hungarian market. Development Director Ivans Dokicians unveiled the company’s ambitions and plans in Hungary and the whole of Europe in an interview for Property Forum.

E.ON Hungária Zrt., the Hungarian unit of the E.ON Group has decided to move its Budapest site to BakerStreet, developed by Atenor Hungary. E.ON will occupy their new Hungarian headquarters from the second quarter of 2024 on 16,200 sqm, in the first phase of the new office campus. 

After nearly 5 years at CTP, Dávid Huszlicska decided to turn the page and start a new chapter by co-founding with Dániel Szélesi and Gábor Móró a new player in the Hungarian industrial RE market: Greenfield Development & Advisory. 

In recent quarters, the National Bank of Hungary (MNB) has measured substantial and growing overvaluation in the housing market, which has been coupled with an increase in banking sector risks related to lending. These risks have not decreased so far even with the uncertainty related to the war situation of the past months; hence, supporting banks' resilience with regulatory tools is warranted. The Financial Stability Board of the MNB has therefore decided to raise bank capital requirements and will increase the countercyclical capital buffer rate to 0.5% from 1 July 2023, for the first time since its introduction six years ago, Hungarian economic daily Portfolio.hu reports.

Duna House has released its monthly transaction estimate, showing that there were 10,859 residential property transactions in Hungary in June 2022. This marks a 13% decline over May and a 20% drop compared to the number of transactions recorded last June.

In total, 16,000 sqm of Class A office space has been delivered in the second largest city of Hungary. The building was developed by a local company, Dryvit Profi, realista.hu reports.

Thanks to new and extended leases, myhive Atrium Park, located on Váci út, has leased its entire 31,200 sqm office space. New services have been introduced and interiors have been renewed at the office building.