The second phase of the Park West project has been delivered in Budapest. The Hungarian developer plans two more phases in this project.

Shopper Park Plus Zrt., a regulated real estate investment holding company that owns and operates a portfolio of 18 retail properties, aims to float new ordinary shares and to list its ordinary shares in the BSE Premium category. Retail investors can subscribe for shares from October 9, 2023, with OTP Bank Nyrt. and Concorde Értékpapír Zrt. as distributors. Retail share subscription opens on October 9. 2023. In addition to professional investors, Hungarian retail investors will also be able to participate in the Budapest Stock Exchange’s (BSE) first euro-based initial public offering.

Panattoni Hungary has managed to sign two contracts to build 30,000 sqm of industrial space for a leading German automotive supplier. The new facilities will be opened in Kecskemét and Debrecen where Daimler and BMW already operate. The name of the supplier was not announced.

The first phase of the Le Jardin residential park has secured a BREEAM 'Very Good' certification. This is the first such project to get this type of certification in Hungary.

Hungarian developer Defactoring Zrt. has announced the start of the construction of the next phase of the logistics project in Biatorbágy in the suburbs of Budapest. The handover is scheduled for next summer.

Industrial manufacturer giant JABIL expands its warehouse and production capacity in Hungary. The firm will get an extended production site at the regional city of Tiszaújváros in the Eastern part of the country. The large facility is being developed by the Hungarian company Infogroup.

Knight Frank Hungary has appointed Melinda Kovács as Associate Director. Specialized in office development and leasing transactions, she has a wide breadth of property knowledge, having gained experience throughout her career by working for international developers such as Skanska and Atenor as well as real estate advisory firms.

The world’s largest provider of hybrid working solutions with brands including Spaces, Regus, HQ and Signature, is expanding its Hungarian portfolio with 3 new openings, as the demand for hybrid working rapidly accelerates in the country.

Skanska has divested the first phase of its office complex H2Offices in Budapest, Hungary, to Erste Open-Ended Real Estate Investment Fund, represented by Erste Alapkezelő Zrt., for approximately €100 million. The transfer of the property is scheduled for the fourth quarter of 2023.

While international investors remain cautious, local players from CEE remain actively engaged, opportunistically monitoring the market, and taking advantage of reduced competition. Gábor Zeller, Senior Director, Capital Markets at iO Partners Hungary, talked to Property Forum about key investment trends and shared his market expectations for the rest of the year.