ARTICLES LABELLED WITH TAG Hungary

News Wing's Liget Center to get facelift in Budapest
29
Aug
2023

Wing's Liget Center to get facelift in Budapest

by Property Forum
A new building, Liget Center Vitrum, will join the existing office buildings, Liget Center Classic and the iconic Auditorium. At the same time, the visual identity is being updated: it will be modern and distinctive while reflecting the history of the building complex.
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News Wing’s resi development reaches highest point in Budapest
24
Aug
2023

Wing’s resi development reaches highest point in Budapest

by Property Forum
The first phase of the Le Jardin residential complex has reached its highest point. The residential park with 165 apartments is located on the shore of the Rákos stream, in a green zone location and developed by the Hungarian company Wing.
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News Changing the function of a building is full of challenges
23
Aug
2023

Changing the function of a building is full of challenges

by Property Forum
Offices might become hotels, hotels can be converted into apartment buildings and warehouses may serve as retail centres. But location, revenue-generating capacity and environmental considerations are the most important factors in converting successfully an existing commercial property, say experts of Hungarian developer Wing. Ernő Takács, Deputy CEO, responsible for hotels and retail at Wing and Chairman of the Association of Hungarian Property Developers and Gábor Angel, Deputy CEO, responsible for offices at Wing, talked to Property Forum about the challenges of changing the use of a property.
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News Millennium Tower I in Budapest secures huge tenant
17
Aug
2023

Millennium Tower I in Budapest secures huge tenant

by Property Forum
Austrian company CA Immo has concluded a long-term lease agreement for approx. 8,000 sqm of office space in Millennium Tower I, situated in the Millennium City Center, a large complex just off the river Danube. Cushman & Wakefield and Newmark VLK acted as agents and advisors on the deal.
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News Good news: Investors renew interest in retail assets
16
Aug
2023

Good news: Investors renew interest in retail assets

by Property Forum
The yield shift began in Hungary with a bit of a delay compared to the regional countries, where repricing has already become evident. Office maintains its dominance but investors have started to see retail assets as more attractive than before, says Attila Balogh, Head of Capital Markets at Hungarian property advisor firm Eston International.
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News Hungarian inflation falls below 20% but still remains highest in CEE
08
Aug
2023

Hungarian inflation falls below 20% but still remains highest in CEE

by Property Forum
Consumer prices in Hungary were 17.6% higher on average in July 2023 than a year earlier. The highest price rises were measured for electricity, gas and other fuels as well as food over the last twelve months. In one month, consumer prices increased by 0.3% on average, within which, however, clothing and footwear cost 1.4%, food 0.9% and consumer durables 0.5% less, the Hungarian Central Statistical Office (KSH) reports.
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News Mixed-use complex Liberty receives use permit in Budapest
01
Aug
2023

Mixed-use complex Liberty receives use permit in Budapest

by Property Forum
The mixed-use property development Liberty by Hungarian developer Wing has reached a major milestone. The office area in the south wing has received its use permit, and the first tenants have already moved in. At the same time, a sports store is now open on the ground floor.
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News Raising productivity is the only way for construction companies
26
Jul
2023

Raising productivity is the only way for construction companies

by Property Forum
Some forms of government support may temporarily ease the current tough conditions for part of the construction sector in Hungary. But companies may not count on outside help only. All have to invest in new technologies and extend their in-house competencies, especially to reach ESG compliance, says Pál Dános MRICS, Associate Partner at KPMG Hungary in an interview with Property Fourm.
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News Drogerie Markt to open huge warehouse near Budapest
25
Jul
2023

Drogerie Markt to open huge warehouse near Budapest

by Property Forum
The German retailer has secured an 18,000 sqm industrial space in HelloParks Páty, located in the western suburbs of Budapest. The new facility will serve as a regional warehouse centre for the company. DM will move in at the end of November 2023.
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News Industrial stock and vacancy on the rise in Hungary in Q2 2023.
24
Jul
2023

Industrial stock and vacancy on the rise in Hungary in Q2 2023.

by Property Forum
In Q2 2023, the Greater Budapest speculative industrial stock increased by 65,580 sqm, adding six buildings to the stock, while in Regional Hungary, one new building was handed over. The vacancy rate at the end of Q2 2023 was 8.6% in Greater Budapest, an increase of 270 basis points quarter-on-quarter and an increase of 220 basis points year-on-year, the Budapest Research Forum (BRF) reports.
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Latest news


New leases

  • Confectionery Batida has joined the tenants of the LIXA City Gardens retail concept that is being arranged in the LIXA office complex near the Daszyński Roundabout in Warsaw.
  • Vileda expanded its office located in MyHive IO-1 in Warsaw, owned by CPI Property Group, to 712 sqm. Przemysław Urbański from Avison Young Poland supported Vileda in the negotiation process.
  • The LUX MED Group extended a 2,200 sqm lease agreement in the O3 Business Campus in Kraków managed by EPP

New appointments

  • Axi Immo is developing its Capital Markets Department. As of November 2023, Jakub Grabara was appointed as Associate Director in the Capital Markets Department. He will be responsible for transactional services, i.e., acquiring, purchasing, and selling commercial real estate.
  • Romanian developer ARQA has named Alexandru Rădulescu as Chief Sales Officer. During his career, he has overseen the sale of 17 residential and mixed-use projects.
  • Multi Corporation appoints Ola Zajac as New Business Ventures Manager. Ola will be looking for new business expansion strategies and venture capital investment opportunities across Europe and will be based out of Lisbon.

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