ARTICLES LABELLED WITH TAG Hungary

Euronics, an electronics and appliances retailer, has signed a contract for nearly 28.000 sqm of warehouse space in CTP's CTPark Budapest East industrial park in Üllő, Hungary. Euronics will develop a fully automated warehouse right next to Lenovo's first European factory. The building is scheduled to start operations in early 2022.

Wyndham Hotels & Resorts announced the opening of H2 Hotel Budapest, Trademark Collection by Wyndham, the latest addition in Wyndham’s portfolio of Trademark properties across Europe and its first property under the Trademark Collection brand in Hungary.

Aurelia Luca, Executive Vice President of Operations in Romania is now expanding her area of responsibility by taking over the Hungarian market as well. 

M7 Real Estate has acquired the Terrapark office complex in Budaörs, Hungary, on behalf of M7 CEREF II. The purchase is in line with the Fund’s strategy of targeting value-add and core plus office, logistics and industrial investments in the key Central European markets of Hungary, Croatia and Poland.

The BudaPart CITY office building in South Buda has received its occupancy permit. The first tenants can move into the building, developed by Property Market Kft., already in the summer.

Robertson Hungary, a provider of real estate services in the field of property acquisition, vendition, leasing, valuation in the sectors of office, retail, hotel, industrial and logistics, announced that it is acquiring BNP Paribas Real Estate Hungary, a company specializing in property, project and financial management services in the Hungarian real estate market, to strengthen its position and broaden its business activities. The purchase of BNP Paribas Real Estate Hungary, based in Budapest, further increases Robertson Hungary’s share in the real estate market.

Diófa Asset Management has appointed Roland Bogár as its new Real Estate Investment Director, the company said in a press release. Bogár has nearly 15 years of real estate experience, during which time he has taken part in numerous property deals in Hungary and in the CEE region. He will now play an active role in coordinating activities related to Diófa's real estate portfolio and in setting the direction of the company's property strategy.

The government’s recently announced measures to curb construction material prices were published in the Official Gazette late on Thursday, including the supplementary mining tax, a new type of tax for certain market players.

Wing has completed the first Hungarian unit of B&B Hotels, having converted the former Angyal office building in Boráros Square, on the bank of the Danube in Budapest. The hotel features a restaurant, a bar, a rooftop bar with a view, two meeting rooms, and an underground parking garage with electric charging stations. The new hotel will welcome its first guests in the summer of 2021.

The sentiment of Hungarian real estate investors is becoming more and more optimistic, which is reflected in their continuously increasing willingness to invest, according to CBRE's survey. Offices are expected to remain the most traded asset type, but demand for alternative investment opportunities has increased significantly. The biggest challenges of the coming year may be pricing asymmetry between sellers and buyers, as well as a lack of stock for sale.