ARTICLES LABELLED WITH TAG Budapest

Hungarian-owned B+N Referencia Ltd. has announced the acquisition of Italy-based Sagad. With this move the company has gained new industry knowledge, significant Western European experience and a new customer base.

The second phase of the Park West project has been delivered in Budapest. The Hungarian developer plans two more phases in this project.

The first phase of the Le Jardin residential park has secured a BREEAM 'Very Good' certification. This is the first such project to get this type of certification in Hungary.

The world’s largest provider of hybrid working solutions with brands including Spaces, Regus, HQ and Signature, is expanding its Hungarian portfolio with 3 new openings, as the demand for hybrid working rapidly accelerates in the country.

Skanska has divested the first phase of its office complex H2Offices in Budapest, Hungary, to Erste Open-Ended Real Estate Investment Fund, represented by Erste Alapkezelő Zrt., for approximately €100 million. The transfer of the property is scheduled for the fourth quarter of 2023.

Facility managers of large sports centres face mounting energy and labour costs too. But those costs can be lower if the property itself is enabled to host different kinds of events. Developers should involve all parties to reach that goal before the construction or in case of remodelling the building. Tibor Lak, Finance Manager of Budapesti Sportcsarnok Üzemeltető Kft., a subsidiary of Granit Polus, which has been running Budapest Arena, a huge multifunctional centre in the Hungarian capital, spoke with Property Forum about how to handle this problem.

Hampton by Hilton Budapest City Centre has opened its doors to guests. Alongside 219 guest rooms, the hotel features a fitness centre and a lobby bar. Flexible social spaces offer the opportunity to work and meet during the day or socialize in the evening, including meeting spaces available for bookings, as well as on-site parking and EV charging for guest use.

A new building, Liget Center Vitrum, will join the existing office buildings, Liget Center Classic and the iconic Auditorium. At the same time, the visual identity is being updated: it will be modern and distinctive while reflecting the history of the building complex.

The first phase of the Le Jardin residential complex has reached its highest point. The residential park with 165 apartments is located on the shore of the Rákos stream, in a green zone location and developed by the Hungarian company Wing.

Prague is the second most attractive market in CEE for hotel operators with a presence or interest in the region. Its popularity is backed up by H1 2023 being a period of healthy recovery for Prague hotels which achieved the second highest (after Budapest) RevPAR (revenue per available room) among the region’s capitals. In this year’s first six months, it reached €69, which is an increase of 57 percent versus H1 2022, and already a 5 percent increase versus the pre-Covid H1 2019. This was primarily driven by the strong ADR (average daily rate) growth, which surpassed 2019 levels by over 20 percent. Hotel operators are optimistic about the industry’s outlook and keen to expand across the CEE region. However, 28 percent of planned hotel projects in the region are facing delays or put on hold, mainly due to the increased development costs, reports Cushman & Wakefield in the Hotel Operator Beat survey.