News Article HB Reavis starts major new development in Budapest
by Ákos Budai | Office

HB Reavis has gained planning consent for its next new major development, Agora Budapest, situated next to city’s busiest boulevard and the Váci Road office corridor. Construction on the first building called Agora Hub has already commenced. Agora Budapest will be built in several phases and will comprise more than 136,000 sqm of modern office spaces and retail units by 2023. The project will require an investment of approximately HUF140 billion (€447 million).

The building complex, which includes five office buildings and generous public spaces, will be built in several phases and will comprise more than 136,000 sqm GLA of modern office spaces and retail units. The underground garage will provide 2,170 parking spaces including electric car charging points, which are now commonplace in HB Reavis developments. Agora has been designed to cater also for cyclists’ needs with the surrounding bicycle roads being reconstructed and connected. The buildings will house several bicycle storage places and showers. 
 
HB Reavis is working together with the renowned London-based MAKE Architects and Hungarian architects FINTA Studio to deliver the project. The complex is scheduled for completion in 2023 and will offer well designed office space for 12,000 professionals. The investment into the area is expected to generate 6,000 working opportunities in the coming years.

“The main goal for us when designing Agora was to deliver a new, iconic scheme that fits into the texture of the city but at the same time respects the traditions of Budapest, but still brings modern new architecture value to the capital. An equally important aim for us was to deliver a new work and leisure destination, with friendly, welcoming public spaces filled with lively community programs, great shops and restaurants” – Zoltán Radnóty, Country CEO of HB Reavis in Hungary explained.
 
Rearly 11,000 sqm of retail units will be constructed on the two lower floors of office buildings, housing approximately 40 shops. From this size, more than 6,000 sqm of retail premises are to be constructed in the first phase of the building complex, accommodating restaurants, coffee shops as well as services satisfying everyday needs.
 
As a part of the project there will be green areas the size of 15 tennis courts, decorated with gardens, trees, bushes and grass-covered paths. In the central area of the building complex, there will be an outdoor gathering spot, an “agora” formed. When designing the project, particular attention was also paid to the complete renewal of the investment’s surrounding area. 

Tamás János Szabó DLA, Leading Architect of FINTA Studio noted: “In the project implementation phase, the surrounding streets will be renewed and new traffic junctions will be developed in the two neighbouring crossings. The exit of the underground will also be reconstructed and made accessible for disabled people. Meanwhile in the building complex, a regional bus station of a reduced capacity will be located.  As part of revitalizing the area, we will renew the greenery and plant new trees throughout the nearby streets.”
 
Agora Hub – the first building
 
The construction of the project commenced with the 34,500 sqm GLA, 8 storey Agora Hub. Once the building is completed by the end of 2018, 3,500 people will be working there only 10 minutes away from downtown.  
 
With the floor size of 4,500 sqm Agora Hub will be the one of the biggest coherent floor spaces available in the capital. The building will include a 2,500 sqm co-working space as well, which will be managed by HUBHUB, the new professional subsidiary line of HB Reavis. 

The building will include 4220 sqm of retail space as well as restaurants, cafes, supermarkets, drugstores and medical services. Additionally, there will also be a 900 sqm gym available for the tenants and visiting guests, featuring a healthy food bar. 
 
The project conception of the first two building of Agora Budapest includes human-focused innovative solutions like smart pass integration, elevator-controlling systems, micro location-based information system, mobile applications and smart parking. A survey of the needs of tenants and nearby living residents conducted by the company was a significant factor for focusing on innovative solutions. 
 
Supporting sustainability and well-being, the project is expected to obtain BREEAM Outstanding and WELL Platinum certifications: the latter measures, qualifies and monitors features of built environment that effect human health and well-being.