IWG has announced the opening of a brand-new centre in the Szervita Square Building in Budapest. The centre, which opened last month, is operating under the Signature brand, which provides workspaces in the most sought-after locations in the world.

Yovav Carmi, CEO and Ariel Ferstman, CFO of Globe Trade Centre talked to Property Forum about GTC`s recent acquisitions, the sale of the Serbian office portfolio, coping with COVID-19's long-term effects and their new investment strategy.

Argo Properties N.V., a Dutch company active in the German residential private rented sector, completed an initial public offering in which Cordia International participated as a part of its international expansion strategy.

Hungarian developer Infogroup has closed a successful bond issue as part of the National Bank of Hungary's (MNB) Bond Funding for Growth Scheme. During the rating procedure, the group was assigned BB- and the bond was rated BB. The funds raised through the bond issue will be used to carry out industrial property projects.

Hungarian developer Futureal will open the food court of the Etele Plaza shopping centre in Budapest this September. The food court will feature a direct connection to the roof terrace, unique interior design and a wide selection of gastronomy options, including many popular quick-service restaurants, cafés and an open kitchen concept.

GTC has appointed Eszter Salamon to the position of Transactions Director. Her in-depth sector knowledge and experience in real estate and financial operations will boost GTC’s optimization and expansion goals. As Transactions Director, Eszter Salamon will be responsible for real estate transactions across all GTC markets as the investor plans completion of large-scale transactions in various markets in the upcoming period.

In the 11 shopping streets under the umbrella of the Shopping Street Management (BUM), some 90% of businesses survived the coronavirus pandemic, and the number of stores for sale or rent is decreasing in more and more places, BUM told Hungarian news wire MTI based on its survey carried out at the beginning of May.

Hungary's construction output in March was 11.5% higher than in the previous month, the Central Statistical Office (KSH) said on Thursday. Hungary’s construction industry has corrected the February slump and the rising trend remained unbroken, but the pre-crisis peaks are still some way off.

Hungarian state-owned NIPÜF Group has completed another sales transaction with the sale of a nearly 3 ha plot in the Inpark Martonvásár industrial park, located southwest of Budapest. A Hungarian chemical company will build a 4,000 sqm production hall on the property by 2022.

GTC’s rental and service revenues decreased by €3.8 million to €37 million in Q1 2021 from €41 million in Q1 2020. Profit before tax and fair value adjustments for Q1 2021 reached €15 million, up from €13 million in Q1 2020. The company published its financial results for Q1 2021.