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Interviews

Conversations with the people of the office market

Hubert Abt: AI Will Become the Operating System of Real Estate – If It Delivers Real Performance

Artificial intelligence is no longer a future concept for the real estate industry. It is already changing the way buildings are operated, assessed and financed. According to Hubert Abt, FRICS, Founder and CEO of workcloud24, the real question is not whether a building “uses AI”, but whether the technology can demonstrably reduce costs, improve comfort and mitigate risk. In this interview, we discuss how AI can turn building data into operational intelligence, which real estate professions will be transformed, what tenants stand to gain, why ESG has become less visible but no less relevant, and why trust and measurable performance will ultimately determine the value of AI in real estate.

Mr. Gábor Regős: It Is No Longer Home Office but ESG and AI That Are Shaping the Budapest Office Market

The Budapest office market is on the threshold of a new era: while vacancy rates are declining and demand for modern, sustainable office space may increase, the spread of artificial intelligence could reshape labour demand in the service sector even in the medium term. According to Mr. Gábor Regős, Chief Economist at Gránit Asset Management, the new direction of economic policy may strengthen service centres and high value-added activities, which could primarily benefit premium office buildings. In this interview, we discussed the current situation of the Budapest office market, the role of ESG requirements, the impact of the interest rate environment, and the opportunities and risks associated with AI.

Carbon-Neutral Offices and Evolving Tenant Expectations: How Budapest’s Office Market Is Transforming

According to Aurelia Luca, Executive Vice President of Operations for Hungary and Romania at Skanska’s commercial development business unit, sustainability is no longer a competitive advantage but a basic expectation among corporate tenants. At the same time, energy efficiency, transparency of operational data, and the quality of the workplace environment are playing an increasingly important role in decision-making, fundamentally reshaping the priorities of Budapest’s office market.

Resilience and value creation at the turning point of the cycle – Convergence strengthens through strategic renewal

Market uncertainty, cautious investor sentiment, and transforming office usage habits – yet Convergence has chosen renewal and deliberate development. The real estate investment and development company, presenting itself with a refreshed brand identity, is not merely reacting to challenges but actively shaping the market: it believes in the strength of resilient locations, value-creating repositioning, and long-term growth. We spoke with Mr. Csaba Zeley, Managing Director of Convergence, about the future of the Budapest office market, the role of flexibility, and the next chapter of an iconic inner-Buda office building – a successfully rethought building that has reached a transactionally relevant stage of its lifecycle.

Avison Young and Green Court Office

In 2023, one of Budapest's most modern office buildings, Green Court Office, was acquired by a new investor on the market, Affinités Pierre (Groupama Gan REIM).