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Office Market News

Daikin Opens New Showroom in Promenade Gardens

Daikin Hungary set up its state-of-the-art showroom on a 309 sqm ground floor retail area in Tower ‘B’ of Promenade Gardens office building.

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GalCap: Real Estate Acquisition in Budapest for German Pension Fund

GalCap Europe, the real estate asset and investment manager specializing in Austria and Central Europe, has acquired another asset in Budapest for a German pension fund’s portfolio: the Rumbach Center.

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ATENOR has launched its latest development, the BakerStreet project in South Buda

ATENOR acquired in July 2019 a land of 5.711 m² located at number 18 Hengermalom Road in district XI of Budapest in order to develop a new “A +” category green office project of nearly 18,000 m2.

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Allianz closes on the Eiffel Square office building in Budapest in a deal structured off-market by JLL

The transaction, one of the largest office deal investments in CEE this year was signed in May and closed in early June. Even if several investment transactions were derailed by the Q2 lock-down in Hungary, the transaction progressed in line with the original time frame.

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Váci Greens office complex’s fifth building, ’F’ received the occupancy permit

The fifth, 25,053 m2 ‘F’ building of the A+ category Váci Greens office complex, already having a 67% occupancy rate, has received the occupancy permit as well. The first tenants are going to move in in June.

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IMMOFINANZ with strong 18% increase in results of operations in Q1 2020, negative valuation results due to Covid-19

IMMOFINANZ started the first quarter of the 2020 financial year with strong operational performance: Rental income rose by 13.4% to EUR 74.0 million, above all due to the expansion of the portfolio through acquisitions and completions as well as growth of 1.9% in like-for-like rental income.

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Third Lindt store opened in Budapest with JLL tenant representation

JLL closed a successful tenant representation transaction on behalf of the chocolate manufacturer Lindt&Sprüngli, this time choosing Arena Mall as its third store location.

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myhive Haller Gardens renewed – new myhive services will be launched

Major upgrades are coming soon to the myhive Haller Gardens office building including new services for the tenants. The goal of IMMOFINANZ’s developments planned for 2020 is to raise the standards of modern work to a higher level.

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