ARTICLES LABELLED WITH TAG Hungary

09
Jun
2016

What are investors looking for in SEE?

by Ákos Budai
In 2016 commercial real estate investment activity seems to be picking up again in Southeastern Europe after a slightly weaker 2015. Although financing conditions are continuing to improve a lack of high quality product and liquidity still presents a big challenge for all countries of the region. We report from Bucharest where Portfolio Conferences and RICS have organised SEE Property Forum for the second time.
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02
Jun
2016

HB Reavis announces its third Budapest project

by Ákos Budai
International real estate developer HB Reavis has announced the acquisition of the BEM Palace in Budapest from Europa Property Fund. Located in the heart of Buda, BEM Palace is the company’s third development site purchased in the Hungarian market and their first redevelopment project across all markets. 
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02
Jun
2016

Váci 1 building opens in Budapest

by Ákos Budai
Horizon Development’s re-conceptualized historic building Váci 1 in Downtown Budapest has fully opened. The 13,750 sqm UNESCO World Heritage listed neo-classicist palace - constructed between 1911 and 1915 - is home to the newest flagship store of H&M.
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26
May
2016

The Olympics are turning Budapest upside down

by Ákos Budai
The fact that Budapest is competing for the right to host the 2024 Summer Olympics and Paralympics has now Been decided, as the capital submitted the initial application materials in the middle of February. The next big question is, will the choice of the International Olympic Committee (IOC) really fall on Budapest, and if so, will the city manage to prepare for the games in time and in a sustainable manner.
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25
May
2016

Hungary continues to be the most confident CEE market

by Ákos Budai
According to the latest RICS Commercial Property Monitor, occupier and investment sentiment continues to be broadly positive in Central and Eastern Europe for Q1 2016. Sentiment in both the Occupier and Investment markets registered a positive value across Bulgaria, the Czech Republic, Hungary and Romania. At the same time RICS has published its Croatia Commercial Property Monitor for the first time.
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17
May
2016

Investors still seem to favour Poland within CEE

by Ákos Budai
According to Cushman & Wakefield, strong investment activity in the core Central European markets of Poland, the Czech Republic, Slovakia, Hungary and Romania continued in the first quarter of 2016, with EUR 1.4 billion invested. The slight decrease in transaction volume of 5% compared to the corresponding period of 2015 was smaller than the 14% fall recorded for Europe overall. Q1 activity was also above the long-run average of EUR 1.2 billion since 2007.
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13
May
2016

TriGranit posts its Q1 2016 results

by Ákos Budai
TriGranit has started its first year backed with a new owner, TPG Real Estate. In Q1 2016, new leases and renewal agreements reached 25,777 sqm GLA, the average occupancy rate is over 95% in TriGranit managed assets and the company has 20,000 sqm GLA office development in progress. Due to the strong performance of the BPO sector in the region, the company plans further office developments in the near future in each of its core countries: Poland, Hungary and Slovakia. 
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04
May
2016

Budapest must prove itself again as a core CEE market

by Ákos Budai
2015 has proven to be a turning point for both the Hungarian commercial property market and for Cushman & Wakefield, which has merged with DTZ. Adrian Limp MRICS, Head of Valuation & Advisory at Cushman & Wakefield Hungary talked to us about valuation practices in a recovering market.
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28
Apr
2016

OTP REIF acquires a logistics centre in Győr

by Ákos Budai
OTP Real Estate Investment Fund has acquired a 30-thousand-square-metre logistics property within the Industrial Park of Győr. The purchase is part of a portfolio optimization strategy, by which the Fund aims to increase the yields of the OTP Real Estate Investment Fund.
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22
Apr
2016

Vacancy further decreases on the Budapest industrial market

by Ákos Budai
The vacancy rate on the Budapest industrial market declined 2 percentage points to a level below 10%. The Budapest Research Forum has published its Q1 2016 industrial market snapshot.
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Latest news


New leases

  • Westinghouse Electric Company will occupy a space of over 1900 sqm in the Zabłocie Business Park B office building in Kraków. JLL represented the tenant during the contract negotiation process.
  • Grupa Azoty, a producer of fertilizer and chemical components has extended its lease in the Warsaw Trade Tower. The company occupies 1,160 sqm in the skyscraper, which is owned by Globalworth.
  • 108 Agency Slovakia has mediated the lease of 720 sqm for its client Mercurtrade in Beta – Car Park Pezinok.

New appointments

  • Spaceflow, a tenant experience company, appoints Ken Norton as its Vice President of Sales. Among Norton’s goals is to accelerate the growth of its client base, while scaling Spaceflow's sales team in their international markets and optimizing the sales processes. Norton joined Spaceflow after three years as Head of Sales at LandInsight, now Landtech. Prior to joining LandInsight, he was in Business Development at Estates Gazette.
  • Benoit Lheureux will replace Gerard Gallet as a CEO of Auchan Polska. Gerard Gallet will remain a Member of the Board.
  • Tomasz Łapiński, former CFO of Cordia Poland, has returned to the company as Development Director and Vice President. He will be responsible for strengthening Cordia's position in Poland, its development and further integration with Polnord.


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