ARTICLES LABELLED WITH TAG Hungary

News GLL acquires Váci 1 in Budapest
21
Nov
2016

GLL acquires Váci 1 in Budapest

by Ákos Budai
GLL acquired the multi-purpose heritage building that combines retail-, office- and service functions on 13,750 sqm at Vörösmarty Square in downtown Budapest. The seller of the recently completed UNESCO World Heritage listed premium asset is Hungarian developer Horizon Development.  The property has been added to the portfolio of Bayerische Versorgungskammer and will be managed by Munich-based real estate fund manager group GLL Real Estate Partners.
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News Stable increase on the Hungarian industrial market
21
Nov
2016

Stable increase on the Hungarian industrial market

by Ákos Budai
This more intense activity observed on the Hungarian industrial property market is fuelled by an increased number of leasing and sales transactions that resulted in the net absorption rate outpacing the new supply. From a development perspective the market is experiencing a new turn, as a number of speculative projects were initiated again, which was not the case for many years, as since the economic downturn, developers were almost exclusively focusing on build-to-suit type of projects.
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News Goodman expands in Hungary
17
Nov
2016

Goodman expands in Hungary

by Ákos Budai
Goodman Group, an owner, developer and manager of industrial real estate, has opened the 22,200 sqm expansion of its Gyál Logistics Centre. One unit is already pre-leased and the remaining two units are available for immediate lease. The total leasable area has nearly doubled to 44,735 sqm.  
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News Goodman appoints new Country Manager for Hungary
17
Nov
2016

Goodman appoints new Country Manager for Hungary

by Ákos Budai
Goodman Group, an owner, developer and manager of industrial real estate, has appointed István Kerekes as the Country Manager for Hungary. With vast experience in commercial real estate, István will be responsible for Goodman’s properties in Gyál, Üllő and Kecskemet and will work towards strengthening the Group’s portfolio in Hungary.
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News Promenade Gardens welcomes its anchor tenant
16
Nov
2016

Promenade Gardens welcomes its anchor tenant

by Ákos Budai
Celanese Hungary Ltd. is setting up its new 4,200 sqm headquarters in Promenade Gardens as of April 2018. The decision was made prior to the foundation stone being laid for the new office building on inner Váci út. The regional financial and logistics business service center of the international company found its new home on the 1st and 2nd floors of the modern, 4-tower building (in cores B, C and D).
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News Foundation stone laid for largest Budapest office building
16
Nov
2016

Foundation stone laid for largest Budapest office building

by Ákos Budai
The foundation stone for the new Magyar Telekom Headquarters has been laid in Budapest on 15 November. The 58,000 sqm office building is expected to be completed in the second half of 2015 and will be leased by Magyar Telekom for at least 15 years. Upon completion it will become the largest single-block office building in Hungary.
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News Appeninn refinances Biatorbágy property
14
Nov
2016

Appeninn refinances Biatorbágy property

by Ákos Budai
Appeninn Nyrt refinanced its Biatorbágy property under significantly more favorable conditions than before. The 5000 sqm property is occupied by the Hungarian subsidiary of Remmers. Appeninn intends to spend the released resources on further property investments and the distribution of dividends.
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News Immofinanz acquires retail parks in Slovakia and Hungary
14
Nov
2016

Immofinanz acquires retail parks in Slovakia and Hungary

by Ákos Budai
Immofinanz is continuing the expansion of its successful Stop Shop retail park portfolio with the acquisition of eight locations in Slovakia and Hungary. The purchase price for these properties totals approx. €79.0 million. The newly acquired retail parks have an occupancy rate of roughly 98% and generate annual rental income of approx. €6.6 million. The transactions will close in several steps, presumably by the end of the first quarter of 2017. Immofinanz‘s Stop Shop portfolio will then cover 66 locations in seven countries with roughly 449,000 sqm of rentable space and a book value of more than EUR 600.0 million. Further locations in Serbia and Poland are currently in the preparation phase for project development. 
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News Bucharest and Budapest seem attractive from London
14
Nov
2016

Bucharest and Budapest seem attractive from London

by Ákos Budai
General optimism, attractive investment opportunities and more capital characterises the Central and Eastern European property market that is now considered a favourable investment destination by international investors. The second Emerging Europe Property Forum, co-organised by Portfolio Property Forum and RICS, took place on 8 November at the RICS HQ in London. 
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News Investors love Central European real estate
11
Nov
2016

Investors love Central European real estate

by Ákos Budai
According to Cushman & Wakefield, commercial real estate investment activity in the core Central European markets of Poland, the Czech Republic, Slovakia, Hungary and Romania reached €6.05 billion in the first three quarters of 2016, a 37% increase y-o-y, albeit with reduced activity during the third quarter. Investment in the CE region slipped back following a strong second quarter. The volume of assets traded totalled €1.4bn in Q3 2016, down over 20% a year ago and half Q2 volumes.
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Latest news


New leases

  • In recent weeks, three new tenants have joined the ranks of tenants at the RONDO Shopping Centre in Bydgoszcz, Poland. Gudi Home, Pink Box and Piekarnia Grochola Prawdziwy Chleb have signed lease agreements for premises with a total area of nearly 1,700 sqm.
  • Nearly 700 sqm of Infinity’s office space in Wrocław will be occupied by a team from ingage Poland software company. The new tenant has decided to lease office space located on the fifth floor of the building.
  • Auchan Romania has leased 2,600 sqm on the ground floor of the second phase of the U•Center office project in Bucharest.

New appointments

  • Florin Suicescu has been named COO of Forty Management. With over 30 years of management experience, he has held senior positions in real estate and hotel developments.
  • Daniel Rutkowski joined Walter Herz Investment Advisory Department, currently consisting of six people, and took the position of Development Manager. He will be responsible for searching for and acquiring investment projects, developing investment potential analysis and building the value of real estate.
  • Dariusz Proniewicz has joined MDC2's team of experts to take on the position of Development Director BTS, with responsibility for the development of BTS investments.


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