ARTICLES LABELLED WITH TAG Hungary

With the acquisition of another 10.4 percent stake, Wing's stake in Echo Investment has increased to 66 percent, the Hungarian investor-developer announced.

Erste Bank Group anticipates an economic slowdown for 2020 in most CEE countries due to the coronavirus situation. The bank’s report mentions a negative scenario as well, which would result in a massive recession in the region.

Prologis has appointed Paweł Sapek as Regional Head Central Europe, a role in which he is responsible for maintaining strong team leadership, identifying new opportunities and steering the region towards new paths of development. Sapek is now responsible for overseeing the company's entire CE portfolio across Poland, the Czech Republic, Slovakia and Hungary, with a total area of 4.2 million square meters. In addition, he will run the Polish branch of Prologis and directly supervise operations in Hungary.

According to the latest RICS Commercial Property Monitor, occupier and investment sentiment remains mostly positive across main CEE markets with the exception of Bulgaria where the outlook is slightly negative. Retail continues to suffer across the region as demand for retail assets fell on both the occupier and investment sides of the market in most countries.

In 2019 the volume of property investment transactions on the Hungarian market decreased slightly in comparison with the previous year (€1.75 billion), however, the total value of transactions has been higher than €1.5 billion every year since 2016. There was a strong and stable demand for office and retail properties, with the volume of hotel sales also increasing significantly, according to Eston International’s H2 2019 investment market report.

Cordia International announced a public tender offer on 14 February 2020 to buy the remaining approximately 34.34% of the shares in Polnord S.A., which is not owned by Cordia International currently.

CTPark Budapest West BIA2 has been recently awarded a BREEAM In-Use „Excellent” rating.

UAE business conglomerate Al Habtoor Group is set to open a regional office in the Hungarian capital of Budapest, to service its existing European operations and scout for new investment opportunities. The group, with its wide-ranging interests in the hospitality, real estate, automotive, education and vehicle leasing sectors, plans to expand its enterprise reach in new European markets.

Israel-based international hotel chain Fattal Holdings has acquired hotels in Budapest and Bucharest, increasing the chain's portfolio to 225 hotels.

Christie & Co recently launched their new report focusing on the hostel markets in Vienna, Prague and Budapest. The report shows an overview of the business model itself, key characteristics, the evolution of the hostel concept and gives a deeper insight of the mentioned markets: Vienna, Prague and Budapest, in terms of demand, supply and especially branded supply.