News MNB fund sells stake in Budapest development project

MNB fund sells stake in Budapest development project

by Property Forum
Optima Investment Ltd., which manages the assets of the Central Bank of Hungary’s Pallas Athené Foundation, has sold the majority stake of its Budapest development project, located on the Váci Road office corridor, to internationally-based Chi Fu Investment Group.
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News Persistently positive outlook on the Budapest market

Persistently positive outlook on the Budapest market

by Property Forum
Rents remained stable on the Budapest commercial property market in H1 2018, according to the last survey of the National Bank of Hungary (MNB) and RICS. The typical yield level decreased by roughly 25 basis points to 6% for prime offices and 7.5% for industrial/logistics properties. Respondents anticipate an increase in demand for investments in most market segments for H2 2018, particularly in the case of prime office and industrial/logistics properties.
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News Rents increase by 15% in Budapest

Rents increase by 15% in Budapest

by Import Sys
The Central Bank of Hungary (MNB) and the Royal Institution of Chartered Surveyors relaunched the questionnaire-based survey research on Budapest’s commercial real estate market, with the review period of H2 2017. Over the preceding two years the typical rent for commercial properties observed for most property types has increased by more than 15 percent until the end of the second half of 2017. Prime yields for the office market and shopping centres approached the historical minimum observed in 2007 with 10-25 basis points. Most of the survey respondents expect an increase in demand in both the investment and the tenant markets for commercial properties in the next 6 months, however, with regards the development activity, the majority of respondents foresee an unchanged level or a drop in demand for several types of property.
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Latest news

New leases

  • Woolworth Polska has leased almost 1,000 sqm of space in DL Shopping Park Mikołów, a retail park under construction in the Silesian voivodship.
  • A Reserved store has been reopened in Gemini Park Tarnów. The outlet has gained a new location in the facility and now occupies an area 300 sqm larger.
  • Another new building within the Dekada Grójec retail park has been opened in Grójec. The new part included a Douglas perfumery, which occupied around 200 sqm.

New appointments

  • Angelika Kliś has resigned from her position as a member of Atal's management board, the company announced in a press release. The reason for the resignation was not given.
  • Carrefour has announced changes to the management of its branch in Poland. As of 1st of June, the position of Commercial and Supply Chain Director of Carrefour Poland was taken over by Eric Yung. Tomasz Waligórski was appointed Chief Operating Officer.
  • At Nhood Services Poland, Agnieszka Gutowska was appointed Head of Brand Marketing & Communication. She will responsible for shaping the brand image in Poland, taking into account the competences of the three business lines Property & Asset Services (PAS), Development (DEV) and Resources, Fund & Investment (RFI).


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