ARTICLES LABELLED WITH TAG Budapest

Total demand on the Budapest office market in Q3 2019 reached 191,235 sqm, representing a 41% growth compared to the same period of last year, according to BRF’s latest figures.

Aldi will lease 10,000 sqm at CTPark Budapest West in Biatorbágy, the developer announced on Linkedin. The new tenant will move in before the end of the year.

ibis Styles Budapest Genius in the 11th district of Budapest will welcome first guests in the fall of 2020. According to the recently signed agreement, Accor Pannonia Hotels Zrt. will manage the hotel.

Futureal Group has started the development of the final office complex on Corvin Promenade in Budapest, Hungary. Corvin7 developed in two phases will offer nearly 30,000 sqm of gross leasable area (GLA) in the immediate vicinity of Corvin Offices.

Atenor has opened a new showroom in Aréna Business Campus Building A that is under construction in Budapest. The building will be handed over in Q2 2020. At the same time, construction of Building B has already been started.

HB Reavis has received a new syndicated loan from Erste Group and Raiffeisen Bank International Group (RBI Group) for the construction and development of Agora Budapest. The recently signed facility amount of €140 million makes it one of the largest in the Hungarian real estate sector. The financing club is led by Erste Group as book-runner and facility agent. Erste Group and RBI Group will finance the Agora Budapest project with equal parts.

As part of the largest ever transaction on the Hungarian office market, Futureal Group has sold the fifth office complex developed on Corvin Promenade to OTP Real Estate Investment Fund. Through this transaction, OTP Prime Real Estate Investment Fund has now acquired the Corvin Technology Park office building from the group. Following the sale, the office portfolio of real estate funds managed by OTP Real Estate Investment Fund Management Ltd. will offer nearly 100,000 square meters on Corvin Promenade.

User expectations have changed significantly during the past couple of years and this is a challenge that most landlords do not take lightly. Mátyás Gereben MRICS, Country Manager of CPI Hungary talked to Property Forum about the changing needs of office tenants and the shopping centre of the future.

OTP Real Estate Investment Fund has acquired the 26,000 sqm Roosevelt office building in central Budapest. The seller was Munich-based GLL Real Estate Partners (GLL).

According to one of CEE’s most active developers, tenants in recent years have become more open to innovative and sustainable solutions when it comes to renting retail or office spaces. Tibor Tatár, CEO of Futureal talked to Property Forum about the company’s current projects and changing tenant expectations. Tibor Tatár will be joining a panel on the Hungarian property market at our upcoming CEE Property Forum 2019 in Vienna.