News Article Hungary investment retail Wing
by Property Forum | Investment

Hungarian investor-developer Wing has sold the Family Center retail park in the Western Hungarian city of Szombathely to local investor Unione Investment Group. Family Center Szombathely, with 28 shops and seasonally changing stalls, was acquired by Wing at the beginning of 2018 and has now been sold to the new owner with almost 100% occupancy.

Wing, one of the largest real estate developers and investors in the Hungarian real estate market, acquired Family Center Szombathely at the beginning of 2018 and has now sold it to Unione Investment Group. Wing has achieved a significant increase in revenue and value by leasing almost 100 percent of the shops during the operation following the acquisition of the Family Center.

The Family Center retail park is located in the heart of the largest retail location in Szombathely and Vas County, next to the Tesco hypermarket and the Praktiker DIY store. With nearly 30 popular shops and seasonally changing stalls, it has been one of the most popular shopping destinations in the area since 2005. It has unique stores in the county such as Media Markt, Hervis and C&A.

Wing is active in the Hungarian retail market. Its developments include Agria Park, the most modern and largest shopping and entertainment centre in Eger and the entire North Hungarian region, offering a unique range of products, and the Hegyvidék Shopping Centre in District 12 of Budapest. The renovation and repositioning of Mom Park was also completed by the company. In addition, Gobuda Mall in District 3 of Budapest, which opened in spring 2022, has been transformed by Wing into a modern shopping centre with 25,000 square metres of leasable space.