Real estate development is a long-term venture where the end results (including profitability) are often unpredictable, especially in the current challenging global environment. Property Forum talked to Norbert Schőmer MRICS, Country Director at Atenor Hungary and the recently appointed Chairman of RICS in Hungary, covering the topics of ESG, changes in the office market, affordable housing and education, among others. He also provided an update on Atenor’s ongoing projects in Hungary and shared his priorities as RICS Chairman.

Zoltán Ligetvári has joined ConvergenCE as Investment Director, bringing nearly twenty years of expertise in commercial investment to the development team.

The country's largest distribution facility was opened in 2022 and offers 143,000 sqm of industrial space on the outskirts of Budapest.

Global hotel operator Accor Group will introduce its premium hotel brand Pullman after taking over the management role at Hard Rock Hotel in Budapest. The opening is scheduled for the end of March 2024.

The alliance aims to combine the decades of construction experience of the DVM Group and the extensive industrial general contracting experience of Greenfield Development. However, the new partnership does not represent a merger.

Demand for lounge-style offices is on the rise across the office world. Fit-out costs have also increased which forces developers and construction companies to prepare projects more thoroughly than before. Property Forum asked Dávid Havas, Development Director at Fitout Zrt. about the latest trends in creating a lovely atmosphere to retain the best employees and use design and build concepts to keep costs low.

As demand for flexible workspace continues rising IWG has announced three new openings: Regus Budapest Infopark, HQ Budapest F99 and Regus Szépvölgyi will offer private offices, meeting rooms, co-working and creative spaces.

In 2023, 18,647 new dwellings were built, 9.2% fewer than a year earlier. The number of dwellings to be built under construction permits and simple declarations issued was 21,501, 39% fewer than in 2022, Hungary’s Central Statistical Office reports.

The development pipeline of logistics centres is still powerful around Budapest but some of the players seek other opportunities near regional industrial cities. However, landlords need to adapt to market changes while adjusting their rental conditions. Property Forum asked Gábor Halász-Csatári, Head of Industrial & Logistics Agency at Cushman & Wakefield about the latest trends in meeting demands and the pivotal role of fulfilment services in Hungary.

The BEM Center office building has been handed over and with it the first tenants have arrived, including the investor and developer Market Asset Management Zrt.