ARTICLES LABELLED WITH TAG Budapest

Bayer Property has bought an 11,000 sqm plot for residential development in Budapest’s District 10 from the GEOS Group.

Wing and Accor have concluded a long-term agreement for a 12,000+ sqm area of the 42,000 sqm Liberty complex. As a result, the office building pursuing the BREEAM Excellent rating has added to its profile a dual-branded hotel under the Ibis and Tribe brands. The hotel part will be located in the landmark South wing and it is expected to be completed in 2023, which means this will be the first Tribe Hotel in Hungary.

As of September 2021, Colliers is responsible for the property and facility management services of Green Court Office, a new, Class A office development by Codic, located on Dózsa György út.

Kassák Passage, the second phase of LIVING’s Kassák project, has reached its highest point. The project features 262 units and is located close to the Váci út office corridor. It is expected to be completed in the second half of 2022.

Total demand on Budapest’s office market reached 81,500 sqm in Q3 2021, representing a 17% decrease quarter-on-quarter, but a 3% increase year-on-year. New leases overpowered regarding the share of total leasing activity with 60%, reveals fresh data by the Budapest Research Forum.

S Immo will further expand its Hungarian portfolio. The company is planning to develop a 40,000 sqm project on the Váci Road office corridor.

JLL Hungary has advised the seller on the sale of an operating apartment hotel, Escala Hotel & Suits. The 50-apartment hotel, located in Budapest's Corvin quarter, was sold in August, JLL said in a LinkedIn post.

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.

Local residential developer Metrodom has bought a 15,000 sqm plot on Budapest's Soroksári út, where it plans to build a new residential quarter, property advisor CE Land, which brokered the deal, announced.

Following the sale of the Buda Square and Margit Palace office buildings in November last year, Budapest-based Adventum Zrt. has sold another asset from its Adventum TRIUM Real Estate Fund portfolio, the Máriássy 5 office building and the associated development area.