ARTICLES LABELLED WITH TAG Budapest

Wing has acquired Airport City Logistics Park near Budapest’s Liszt Ferenc International Airport, comprising approx. 44,000 sqm of modern warehouse buildings and 8,000 sqm of office area. Through the transaction concluded with CPI Property Group, Wing further strengthens its position in the Budapest industrial and logistics market. The transaction was carried out at a record low, 5.6% yield. 

CA Immo has signed and closed the sale of the R70 office building in Budapest. The sale of the property, which was completed in 2002 and comprises 19,200 sqm of gross leasable area (GLA), has closed in line with the book value as of Q2 2021. The buyer was local construction company Épkar Zrt. which used funds obtained through the National Bank of Hungary's Funding for Growth Scheme.

Living, an umbrella brand of Wing specialising in residential properties, has completed the first phase of its Park West project offering 229 apartments in District 13 of Budapest. About 700 apartments will be constructed in the residential development project to be carried out in three phases.

In Q4 2021, for the second consecutive quarter, no new buildings were completed on the Budapest office market. Total demand reached 112,280 sqm in Q4 2021, representing a 38% increase quarter-on-quarter, and a 30% increase year-on-year, the Budapest Research Forum (BRF) reports.

The first phase of the Corvin Innovation Campus, with almost 17,200 sqm of office space, has reached its highest point. Developed by Futureal and located in the immediate vicinity of Corvin Promenade in Budapest, the first phase of the 30,000 sqm complex is expected to be completed by the end of 2022, while the second phase is scheduled for completion in Q4 2023.

Pan-European real estate investment manager Europa Capital, in partnership with commercial real estate investor and developer ConvergenCE, has acquired the Akadémia Business Center in Budapest. The acquisition has been completed on behalf of Europa Capital’s latest value add fund, Europa Fund VI.

CBRE has secured a property management mandate for CA Immo's entire Budapest office portfolio of 9 buildings, the company announced on LinkedIn.

CTP has started the construction of solar power plants across its entire portfolio, with the first phase of 6 buildings to be installed in Biatorbágy and Üllő, both located in the outskirts of Budapest.  The plants, each with a capacity of 500 kW, are scheduled to start operations in the first quarter of 2022, aiming to meet tenants' green energy needs while reducing energy costs. The project will be carried out by local contractors and will be developed by CTP as its own investment, entirely from its own resources.

Wing’s residential development brand Living is launching the third, and final, phase of Kassák Terrace project, located in District 13 of Budapest. The residential project offers future homeowners community services and smart solutions. Kassák Terrace is scheduled for completion in the first half of 2025.

Duna House has released its monthly transaction estimate, showing that there were 11,422 residential property transactions in Hungary in December 2021. The tally for the whole year shows 150,975 transactions, which marks a 15% growth over 2020.