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S IMMO has recently made major commitments towards building a fully ESG-compliant office portfolio in Budapest with a large acquisition and an ambitious green energy initiative. Géza Barabas, Country Manager of S IMMO Hungary talked to Property Forum about upcoming investment plans and the company’s ESG strategy for the Hungarian market.

LogStar, the industrial division of local investor Biggeorge Property, has acquired the WestGate Business Park, an 18,000 sqm industrial facility, from Logicor. The seller was represented by CBRE. The price of the transaction was not disclosed.

Earlier this week, Prague Mayor Zdeněk Hřib and Warsaw Mayor Rafał Trzaskowski visited the Ukrainian capital and invited Kyiv to join the Pact of Free Cities. Founded in 2019 by the mayors of Bratislava, Budapest, Warsaw, and Prague, the pact aims to strengthen the values of freedom, dignity, democracy, and the rule of law.

GTC Hungary has appointed new top managers who will be responsible for serving GTC’s clients more efficiently.

Last year the number of new green buildings and the "greening" of existing ones continued to grow dynamically in Budapest, Colliers reports.

Enter City Office Park will appear on the hilly side of the Hungarian capital and is expected to be completed in 2023, Építészfórum reports.

A long-vacant iconic building on Almássy Square in District 7 of Budapest, which previously housed a leisure centre, will be transformed into a 135-room hotel, Építészfórum reports.

Hilton decided to open six new DoubleTree by Hilton hotels in Europe, including two in CEE: one in Budapest and one in Brasov.

S Immo Hungary decided to install more than 400 solar panels on top of the Blue Cube office building. The solar panels will cover 20-25% of the total energy consumption of the office building

Total demand amounted to 237,475 sqm in Q4 2021, indicating a 115% increase over Q4 2020 and making 2021 a record year in terms of total demand, according to the Budapest Research Forum’s latest industrial market snapshot.