ARTICLES LABELLED WITH TAG Hungary

CPI Property Group announced that the Group has signed disposals that will raise gross proceeds of about €700 million and net proceeds of about €550 million following repayment of associated asset-level debt.

The construction of a new office building on Budapest’s Róbert Károly Boulevard is about to start, as the owner of the RK60 office building, Raiffeisen Property Holding International (RPHI), has received the building permit for the project.

Responding to the extremely buoyant demand, Hungarian residential property developer Cordia is adding more than 300 new homes to its supply by the end of the year. This move will increase the number of new homes available in Budapest's 8th district by a third, while in the 1st district the company's development will essentially represent the entire new home supply. The company, a member of the Futureal Group, will have a record year this year, delivering around 50% more homes than last year and tripling the number of apartments sold.

The Stop Shop retail network operated by Immofinanz will be expanded with another service: 116 high-performance electric charging stations will soon start operating at 14 locations.

The price of newly built homes in Budapest rose more than 8% in the three months between August and November and the average price per square metre is now nearly HUF 1.1 million (€3,000), Eltinga’s latest Budapest Housing Report shows. Below is a breakdown of new home prices by district.

Duna House Group has signed an agreement for the acquisition of 70% of the Italian HGroup with future put/call options that can increase its ownership to 100%.

Belgian real estate Atenor has announced that RoseVille, its Class A+ office building on Bécsi Road has been awarded the BREEAM “Excellent” sustainability rating. Construction work on RoseVille is in full swing, the building is expected to be handed over in the third quarter of 2022.

Hungary-based real estate developer Futureal announced the launch of Futureal Investment Partners, a real estate investment and asset management business that will focus on value-add and opportunistic investments across Europe.

Knight Frank Hungary has appointed Petra Holy to lead the OSCA (Occupier Services and Commercial Agency) services as Head of Office Division. Petra is an experienced leasing, property and asset manager with over 15 years of demonstrated experience in the real estate industry, specializing in landlord representation and strategic consultancy. Previously, she has been involved in the industry both as a consultant and as a landlord, which gives her a full coverage overview. 

Just two months after it sold the Máriássy 5 office building, Budapest-based Adventum has concluded another successful deal as its Adventum TRIUM Property Fund sold Budaörs Office Park from its portfolio.