by Property Forum | Industrial

VGP enters the Budapest market by purchasing a 38 ha development site at the strategic location of Üllő, adjacent to Budapest Liszt Ferenc International Airport. The development potential of VGP Park Budapest Aerozone is approx. 125,000 sqm.

The park will consist of three buildings of 30,000 sqm to over 60,000 sqm area. Construction will start in 2021 for the first one. VGP provides solutions for cross-dock operations, also for standard warehousing and light industrial production facilities. All the buildings in VGP Park Budapest Aerozone will have at least BREEAM “Very Good” certification and with respect to its own operations, the company is committed to becoming carbon neutral by 2025.

Karoly Palovics, Country Manager at VGP Hungary said: “For VGP, as a pan-European operator of business parks, we are very excited about our first park in Budapest, one of the largest cities in the European Union, with a population of around 3.3 million in the wider metropolitan area. The city is also an attractive location for our customers and new businesses due to its vast student population of some 400,000 attending the capital’s 18 universities and business schools. Today, Budapest is growing rapidly thanks to the capital’s thriving economy and we look forward to being able to contribute to this growth by supporting businesses in offering state-of-the-art buildings and logistics solutions at our new park. ”

László Balogh, Business Development Director at VGP Hungary said: “Due to its prime location directly adjacent to the international airport and with direct connections into the city centre as well as into the various regions across the country we believe this new park will appeal to both e-commerce and logistics companies as well as to light industrial and manufacturing companies in need of a versatile and highly educated workforce”

VGP has a portfolio of 120,000 sqm in Hungary strongly connected to the automotive industry in existing VGP parks such as Győr and Kecskemét.