Hungarian developer Wing is set to start renovation works on the EuroCenter shopping centre in Budapest in the spring of 2021 with reopening scheduled for the spring of 2022. In addition to the international fashion brands, the shopping centre will offer its future visitors a diverse range of services, a renovated cinema, culinary experiences and a roof garden.

Wing completed the development of the revitalised Gizella Loft office building, in the heart of Zugló, in fall 2020. The building offers 8,500 sqm of office space. Its redevelopment has transformed it into a Class A, people-oriented and cost-efficient space ready to welcome future tenants. The main tenant which had already occupied the building, TÜV Rheinland Intercert Kft., committed itself to the Gizella Loft in 2019, and in September 2020 took occupancy of the space designed according to its needs.

Developed by Wing, the brand-new headquarters building of evosoft Hungary Kft., a Siemens subsidiary, was completed on time and tailored fully to the tenant’s needs. Located at the Buda end of the Rákóczi Bridge, the 22,000 sqm complex was completed as part of the second phase of the Hungarian Nobel Prize Winners R&D Park. The building, home to a six-storey research and development facility, is equipped with cutting-edge technology and meets Gold-level environmental friendliness and energy efficiency LEED certification criteria. Evosoft is expected to begin moving into the building in December 2020.

Hungarian property investor and developer Wing is expanding its East Gate Business Park, located next to Budapest, with a new 9,200 sqm hall. The handover of the building, which is 30% pre-leased, will take place in the second half of 2021.

Reuters reports that Magyar Telekom (Deutsche Telekom’s Hungarian unit), which moved into its newly constructed Budapest HQ in Q3 2018 and signed a 15-year lease agreement for 58,000 sqm, is considering subletting some of its office space.

In order to expand its investment portfolio and implement its growth strategy, Hungarian investor-developer Wing has raised €156 million (HUF 54.7 billion) within the framework of the Central Bank of Hungary’s Funding for Growth Scheme. Corporate bonds subscribed by the central bank and other institutional investors have a maturity of 10 years and a yield of 3.56 percent.

With the acquisition of another 10.4 percent stake, Wing's stake in Echo Investment has increased to 66 percent, the Hungarian investor-developer announced.

With the payment transferred on 13 December, Wing has acquired a 100% stake in Lisala, which in turn owns a 56 % stake in ECHO Investment, a company listed on the Warsaw Stock Exchange (WSE). This acquisition makes Wing a major real estate firm at the regional level. Supporting Echo Investment’s long-term growth program, Wing enters as a strategic investor. At the operational level, the two companies will continue to operate independently.

Hungarian investor and developer Wing has signed a preliminary agreement to acquire majority interest (c.a. 56% of shares) in Echo Investment, a Polish developer listed on the Warsaw Stock Exchange. Echo Investment has almost 90 projects in the pipeline, with the total estimated usable area of c.a. 1.3 million sqm.

Wing has acquired the Liget Center office building in Budapest from the M7 CEREF I fund managed by M7 Real Estate. The property comprises 7,000 sqm of office space and a 3,800 sqm auditorium. The new owner plans to improve the services offered by the building by adding new services and to find a new use for the empty auditorium.