Hungary-based developer Alfa Group has decided to cancel the bond auction within the Hungarian NKP framework in Q1 due to increased interest rates. As the main reason for bond issuance was the need for a financing development pipeline, an alternative source of financing with attractive commercial terms was considered better. 

Duna House has released its monthly Transaction Estimate, showing that there were 14,548 residential property transactions in Hungary in March 2022. This is the fourth-highest monthly value of the past decade. 

Almost 40,000 sqm was leased in retail and 25,000 sqm in the office segment. From the beginning of 2022, the entire office portfolio fully relies on green energy.

Earth Hour, initiated by WWF, was joined by CPI Hungary and new energy market provider Energo Hungary.

The former EuroCenter was transformed into a modern shopping centre with a leasable area of ​​25,000 sqm, accommodating 100 stores and a service function.

Hungarian pharmaceutical giant Richter Gedeon will get a brand new HQ in Budapest. The handover is planned for the end of 2023.

Industrial developer HelloParks will use the €82 million (approximately HUF 30 billion) loan to build its industrial and logistics park in Maglód which is being developed in several phases. The next, second building is planned to be handed over in the last quarter of 2022.

Zoltán Fekete was appointed the President of the Management Board of GTC. Previously, he has served the company as the Chairman of The Supervisory Board for two years. In the new role, Mr Fekete will steer all GTC’s operations in the region.

Pál Darida, Director of Transactions and Financing at Futureal Group, passed away on Monday, the group announced. 

The aquisition aims to strengthen the position of the group in retail and office market and is subject to approval by Hungarian Competition Authority.