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Office Market News

Váci188 Office Building reopened, mostly with local IT companies

9/13/13

Váci188 Office Building reopened in Budapest, Hungary, with dynamically growing ICT companies, as well as financial services and consulting firms. 1,700 square meters have been leased in Váci188– owned by developer, ORCO Property Group - to companies that achieved favorable terms through collective negotiations, currently characterizing the office market.

International Commerce Centre, Hong Kong - One of the Top ten highest buildings

9/10/13

Construction of the International Commerce Center (ICC Tower) was completed in 2010. The tower opened in 2011, with the Ritz-Carlton(102-118floors - currently the highest hotel in the world) opening in late March and the observatory in early April. ICC Tower's gross floor area is 274,064 m2 / 2,950,000 ft2.

Deutsche Telekom to locate service centre in Budapest

9/10/13

Deutsche Telekom is to set up its International TV Service Centre in Hungary, to co-ordinate the development of high added value television services of its subsidiaries in Croatia, Greece, Macedonia, Montenegro, Romania, Slovakia and Hungary.

Central bank signs FX swap agreement with People’s Bank of China

9/10/13

Hungary’s central bank has signed a three-year bilateral foreign currency swap framework agreement worth 10 billion yuan (EUR 1.23 billion) with the People’s Bank of China, the National Bank of Hungary said on Monday.

State energy company approves financing for E.ON deal

9/3/13

State-owned energy company MVM is planning to borrow Ft 140 billion to finance the acquisition of E.ON’s gas storage and gas trade operations in Hungary, sources told Népszabadság after the EGM on Thursday.

Banks sign contracts for HUF 184 billion under growth scheme

9/3/13

Banks signed loan contracts with SMEs for 184 billion forints under the National Bank of Hungary’s Funding for Growth Scheme by the middle of August, a report published by the central bank on Thursday shows.

Investment increased in Q2

9/3/13

Fixed capital investments in Hungary were up 4.6% year-on-year in the second quarter, the Central Statistics Office announced, the first such increase in six years.

Jones Lang LaSalle selected as new leasing agency of MOM Park Towers and BC 140

9/3/13

The international property advisor Jones Lang LaSalle (JLL) has been mandated by a global real estate investment manager as co-exclusive letting agent of their BC140 and MOM Park Tower office buildings. JLL share leasing mandate with DTZ on BC140 and with Cushman&Wakefield on MOM Park Towers.

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