The asset management arm of Hungarian developer Market Group has signed a €65 million loan agreement with Raiffeisen Bank to finance a huge mixed-use project in a prestigious district of Budapest, not far from the embankment of the river Danube. A Class A office complex and a boutique hotel offering 127 rooms will be completed by 2023. 

Geopolitical tensions hurt demand for commercial property, appetite for property development, financing conditions and property investment decisions over the short run, the Hungarian National Bank (MNB) reports.

New international hotel chains will appear in Budapest for the first time. Budget hotels will remain competitive. Slow recovery of conference tourism gives some hope to the hospitality industry in Hungary, Csaba Tóth, Director, Head of Hotels at CBRE Hungary says to Property Forum.

Kész Group's new logistics centre will offer 10,000 sqm of industrial space at Szigetszentmiklós, just off the M0 ring road.

Hungarian developer Futureal has signed a loan agreement worth €79.5 million with UniCredit Bank to finance the construction and long-term operation of the Corvin Innovation Campus office complex in Budapest. 

Vacancy went further up and only three new buildings have been added to the Budapest office market in the first quarter of 2022. Total demand reached 80,750 sqm, representing a 7% increase year-on-year, the Budapest Research Forum (BRF) reports.

Hungarian company CE LAND and NAI Global of the US are forming a strategic alliance. The two companies will operate jointly in the real estate market under the new brand name NAI CELand.

Three new Deputy CEOs have been appointed at Wing. In addition to his position as Director of Residential Developments, János Martin has been promoted to Deputy CEO of Wing, Director of Marketing Communications Csenge Mátray has fulfilled the role of Deputy CEO for Communications, HR and Corporate Operations, while Director of Transactions Bence Sass has been appointed Deputy CEO for International Business Development and Investments.

The building, developed by Belgian firm Codic and called HomeWork has recently reached its final structure. Apart from 15 luxury flats, a total of 3,600 sqm of office and retail space will be available. A restaurant and a cafe will also serve the needs of tenants.

Most customers no longer visited shopping centres for traditional shopping purposes only, a non-representative survey conducted by Indotek Group revealed.