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18
Aug
2016

What’s next for the Budapest office market?

by Ákos Budai

Days of strong development activity on the Budapest office market are once again ahead of us. The market has been growing steadily and cautiously for years now and we have reached a point where tenants looking to immediately rent several thousands of square metres have no options left. BTS developments and large pre-lease deals have dominated property news cycles for over a year now and the time has finally come for developers with speculative projects to make their move. We take a closer look at Budapest office developments.

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Latest news

New leases

American company Bechtel, which is to build the first nuclear power plant in Poland, has chosen Equator IV in Warsaw, an office building in CPI Property Group’s portfolio, to be the location of the head office of its Polish branch. The company’s offices have an area of 1,600 sqm.
The Polish branch of Maersk, a company operating in the logistics sector, has moved into the P180 office building in Warsaw, developed on Pulawska Street by Skanska.
The Labour Office of the City of Warsaw has leased more than 3,700 sqm in the Renaissance Plaza office building at 18/20 Kasprzaka Street in Warsaw's Wola district. The building is owned by the Adventum Group fund.

New appointments

Piotr Herian has taken up the position of ISS CFO for Poland and the Baltics. ISS is a leading company in the creation of friendly workplaces and comprehensive facilities management.
Paulina Strutyńska has been promoted to the position of Leasing & Asset Director at Skanska’s commercial development business unit. She is now responsible for leasing processes in the Warsaw market as well as Key Customer Management. Agnieszka Krawczyk-Rogowska is responsible for project commercialization and client liaison in Gdańsk, Kraków, and Bucharest, while Marek Stasieńko is responsible for the Wrocław, Poznań, and Łódź markets.
The Supervisory Board of Globe Trade Centre S.A. has appointed Balázs Gosztonyi as a member of the Management Board of GTC S.A. Balázs Gosztonyi has held the position of Chief Financial Officer at GTC Hungary since January 2024. He joined GTC Group in September 2023 as Group Controlling Director.

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