ARTICLES LABELLED WITH TAG Hungary

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.

A 21,000 sqm logistics park is being built in Biatorbágy, near Budapest, along the M1 highway. The LogiCube Park, developed by Defactoring Zrt., will offer sustainable warehouses along with office space, primarily for small and medium-sized enterprises. The first phase of the project, which represents an investment of HUF 1 billion, will start in November this year and is expected to be handed over in the last quarter of 2022.

Home prices in Hungary have increased further, with provincial cities showing an outstanding price rise and Budapest also becoming more expensive following a year of stagnation, the National Bank of Hungary (MNB) said in its latest Housing Market Report. The price gap between Budapest and county seats has decreased in 2021. On a national average, housing prices rose 13.3% year on year in Q2, including a 9.1% rise in Budapest and an 18.2% increase outside the capital.

The former EuroCenter shopping centre, currently being rebuilt by Wing, will be renamed GOBUDA Mall after the renovation. The building will re-open in the spring of 2022 according to plans.

After a significant expansion in Q2 2021, the value of started construction works in the Hungarian construction industry marked a major drop between July and September. Yet overall, the Activity Start indicator remained high for Q3 2021 due to the exceptionally good second quarter, according to the EBI Construction Activity Report.

Wing has sold buildings B, C and I in the Infopark office park in Budapest. The properties were sold through the Gladiator V Real Estate Investment Fund, the buyer being SkyGreen Buildings Ltd. Wing intends to use the proceeds from the sale for the purposes set out in its business plan, namely to strengthen its position in the region.

Millennium Gardens, developed by TriGranit in Budapest, is over the design stage of the two-stage BREEAM certification, which puts the office building in the Excellent category.

Hungary-based residential property developer Cordia is continuing its expansion in the UK residential property market. Its local subsidiary is building a complex of 366 rental apartments, bringing the total number of homes planned for the West Midlands region to over 1,800.