ARTICLES LABELLED WITH TAG Hungary

Marriott International has agreed to open the first Sheraton hotel in the Hungarian capital. The grand opening is scheduled for June 2023. The new hotel will offer 105 rooms and a medium size conference facility and will be managed by Accent Hotel Management.

IWG is opening a state-of-the-art flexible workspace at Tópark ‘BE MY CITY’ Office and Residential Park located in Biatorbágy as the demand for hybrid working rapidly accelerates. The new 1,320 sqm facility in Biatorbágy offers space for co-working and private offices. Meeting rooms and creative spaces are also available.

Retail centres face pressure from different angles and most of them have started refurbishment programs including energy efficiency investments. Is that enough or do they need to invest more to keep up? Property Forum asked Judit Balatoni, Secretary General of the Hungarian Council of Shopping Centres (HCSC) about the ways operators meet current challenges.

The four-star facility called Flow hotel was opened in Inárcs on Thursday and is to welcome conferences and ceremonial events such as weddings. It was financed in total by a private investor. 

Nearly all players in the commercial real estate market share the view that the pressure is growing on corporate leaders to have an ESG-compliant stock and operation. But the majority of them stop at „E” i.eg. being more energy efficient and environmentally friendly. This was one of the takeaways of last week’s Budapest ESG Meetup, organized by Property Forum in partnership with workcloud24.

Equilor Asset Management, owned by Hungarian developer BDPST Group, will buy the Sofitel complex which consists of a 4-star hotel and an adjacent office building, local news portal index.hu reports.

GLP has been operating in Central Eastern Europe for nearly three years. In that time, it has doubled its portfolio in the region, with a total of nearly 2.5 million sqm of building assets currently under management in Poland, the Czech Republic, Slovakia and Hungary. The company is planning new ventures that will reinforce its position among the region’s leading logistics real estate investors, developers and managers.

HelloParks, a subsidiary of Futureal Group announced a fourth major industrial development in the Budapest logistics market. This time the firm will start construction on the southern outskirts of the Hungarian capital. The new 60,000 sqm industrial property in Alsónémedi is the biggest industrial project in the firm's history and is scheduled to open in Q2 2024.

Chris Dinsdale will take up a position as president and CEO of the Calgary Airport Authority, the operator of Calgary International Airport in Canada, Budapest Airport announced.

Industrial developer CTP's net rental income amounted to €452.1 million in 2022, which was an increase of 38.3% year-on-year, while like-for-like rental growth was 4.5% last year, mainly driven by reversion on expiring leases and renegotiations, and supported by the 2021 indexation of 1.7%. The company's annual profit decreased by 22.4% from €1,025.9 million in 2021 to €796.5 million in 2022.