ARTICLES LABELLED WITH TAG Hungary

CTP has announced a major energy saving initiative starting in logistics warehouse of DHL in CTPark Budapest South near Üllő. The entire property will be refitted with LED lighting by April 2017.

Futureal Group handed over the Skypark office building as the latest member of the Corvin Promenade. The 25,000 sqm business center boasts the latest technology since it is planned to meet the needs of technology and R&D. 

Belgian developer Atenor announced the sale of building A of the Váci Greens office complex in Budapest to a group of private Hungarian investors. This building is the first of the three buildings built by Atenor on the Váci Corridor.

Investors spent €1.54 billion in 2016 in the Hungarian commercial real estate market surpassing the 2015 level by 107%. Last year both office properties and retail properties were in request, thus CBRE is expecting a similar or even higher turnover for 2017.

2016 reached the volume of €11.8bn in investment markets across Poland, Czech Republic, Slovakia, Hungary, Bulgaria and Romania, according to a research report by Colliers International. Aside from Poland, investment flows in 2017 will be close to or higher than 2016’s.  The retail sector might see continued rental growth and high investment levels across the region.

Deutsche Hospitality’s first hotel CEE hotel is set to open in by 2019. IntercityHotel Budapest will be located in a newly constructed building in forint of the City’s Eastern Railway Station (Keleti pályaudvar). It will have 300 rooms, a restaurant, a bar, a conference area and an underground car park with 200 spaces. 

The sound global and domestic investment climate generated a major push in property investment activity in Hungary reaching the second highest ever registered annual volume of €1.7 billion in 2016, i.e. 133% up from the previous year. The most popular type of assets were offices with a share of 56%, followed by retail at 25%, while industrial deals accounted for 11% of the overall volume.

Hilton has reached a franchise agreement with Accent Hotel Management to open Hilton Garden Inn Budapest City Centre. The 214-guestroom hotel is set to become Hilton’s third hotel in Budapest by 2018.

Search engines have become an integrated part of the daily life of people and companies as well. Not only the process of buying a book or planning a vacation has changed drastically over the last decade but companies looking for office space are also turning to the Internet more often. The latest Tea & Talk session, co-organised by RICS Hungary and VLK Cresa in Budapest, helped us understand how changes in technology will affect brokers, tenants and landlords.

The property management and (property and SPV) accounting of Váci Greens’ Building C, acquired by ZFP Investments, acting on behalf of the ZFP realitní fond, a Czech real estate fund entering the Hungarian commercial real estate market, is now performed by CBRE.