ARTICLES LABELLED WITH TAG Hungary

13
Oct
2020

Office vacancy rate continues to increase in Budapest

by Ákos Budai
Budapest’s office vacancy rate has increased to 8.1% in Q3 2020, representing an increase of 2.2 pps year-on-year. 106 lease agreements were concluded during the quarter and the number of signed transactions dropped by 25% compared to the same quarter of 2019, according to BRF’s latest figures.
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08
Oct
2020

Infogroup develops new logistics building in Eastern Hungary

by Property Forum
Infogroup has commenced construction of a new logistics building in Polgár Industrial Park. The 4000 sqm speculative building is being developed in the company’s own industrial park. The customizable building will offer a solution to growing logistics and industrial needs, is expected to be ready in Q2 2021.
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07
Oct
2020

Futureal’s Budapest retail project secures new tenants

by Property Forum
Etele Plaza, developed by Futureal in Budapest’s Kelenföld area, has reportedly reached an occupancy rate over 75%. The shopping centre, planned to be completed by Q3 2021, will feature every Inditex brand available in Hungary, including a Zara fashion store featuring a brand new design concept.
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05
Oct
2020

Hungary’s property market registers first-ever ’greenfield REIT’

by Property Forum
Hungary’s first-ever ’greenfield REIT’ marked a major milestone for the country’s property market as SunDell Estate Nyrt. has been registered as a regulated property investment company (known as SZIT in Hungary) by the Hungarian National Tax and Customs Authority (NAV). This makes SunDell the first company in Hungary that gained SZIT status nearly upon completion of all the steps of an initial float rather than choosing this form of operations after a substantial stock exchange presence.
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02
Oct
2020

CEE manufacturing PMIs show stalled recovery at the end of Q3 2020

by Property Forum
Manufacturing PMIs in CEE showed that the recovery slowed at the end of Q3 2020 and the carryover to Q4 2020 was small (and even negative in some cases). This assessment pertains also to the outlook, with new orders and output expectations either rising less or showing a slower recovery in September than in the previous months, according to Dan Bucsa, Chief CEE Economist at UniCredit Bank in London.
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01
Oct
2020

CTP to build 35,000 sqm park for Lenovo next to Budapest

by Property Forum
CTP is building Lenovo's first European plant in Üllő, Pest County, in ctPark Budapest East industrial park. As part of the investment worth more than €18 million, CTP is building Lenovo's first high-tech European plant on nearly 35,000 sqm, the delivery of which is scheduled for spring 2021.
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01
Oct
2020

Futureal creates new logistics development company

by Property Forum
Gábor Futó, the founder of Futureal and Cordia has funded a new industrial and logistics property development and investment company, HelloParks. The firm will operate as a member of Futureal Group and is headed by Rudolf Nemes. HelloParks aims to obtain a leading position of this dynamically growing segment, as a first step in Hungary, later on in the whole CEE market. Expanding the group’s portfolio will also contribute to Hungary becoming a true regional logistics center.  
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24
Sep
2020

Budapest hotels project 70% lower revenue in 2020

by Property Forum
Most hotels in Budapest will see their revenues decrease by more than 70% compared to 2019 this year, while hotels outside the capital expect 20% to 40% lower revenues, according to a representative survey commissioned by the Hungarian Hotel and Restaurant Association.
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21
Sep
2020

Hungary’s construction market not expected to recover fast

by Property Forum
Unusually, due to the current situation, Euroconstruct has issued an interim forecast which is a revision of the June construction market forecast. The results have been summarised by János Gáspár, head of Euroconstruct's Hungarian research institute, Buildecon.
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21
Sep
2020

ConvergenCE to renovate Budapest office building

by Property Forum
Central Business Center, an office building located in Inner Buda is undergoing a major renovation by ConvergenCE. Recognised as the highest quality office building in Budapest at the time of its construction in 1994, an upgrade for the 9,540 sqm property was long overdue.
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Latest news


New leases

  • Cushman & Wakefield Echinox moves its headquarters to the office building developed by businessman and former tennis player Ion Tiriac near Piata Victoriei in Bucharest. The company rented here a space between 300 and 500 sqm.
  • CBRE Romania will move from this summer to a new headquarters. The company rented almost one floor of One Tower, which has 1,400 sqm.
  • Furniture retailer Mobexpert leased 2,000 sqm of warehouses and offices in Constanța Business Park, developed by Global Vision and Globalworth. Following recent transactions, Constanța Business Park has reached an occupancy rate of 70%.

New appointments

  • JLL Romania consolidates its industrial team by recruiting Ciprian Sîrbu in order to provide Supply Chain services on the local market. Ciprian Sîrbu has over 10 years of experience in logistics, e-commerce, and industrial supply chain, completed by 7 years in which he worked in the IT field. His role within JLL is to provide advice to customers in streamlining the supply chain like the need for such services increases.
  • Simona Costache has joined Romanian developer One United Properties as Executive Director, Residential Sales. With 15 years of experience in real estate, Simona has been involved in sales, rental and facility management for residential developers in Bucharest.
  • Penta Investments has appointed three new Partners. Fabrice Dumontheil, Václav Jirků and Marián Slivovič have become co-owners and leaders of Penta. Fabrice Dumontheil has been with Penta since 2012. He is the CFO of the entire group, responsible for the strategic financial management of Penta group as well as for group IT strategy. Václav Jirků will be responsible for managing the healthcare investment portfolio as well as the international network of Dr.Max pharmacies. Marián Slivovič will primarily cover Penta's investments in banking and Slovalco, as well as in media projects in Slovakia and Czech Republic.


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