REAL ESTATE DEVELOPER ABLON CHANGED NAME TO CPI HUNGARY IN ACCORDANCE WITH THE NEW OWNER
May 19, 2014
2014 - From 15th of May 2014 Ablon will change its business name to CPI Hungary and will operate under the brand CPI Group. This change is a logical result of the completed sale of the Hungarian developer and its takeover by the Czech real estate CPI Group that happened in 2Q 2013. „CPI ensures great opportunity for developing our activities.
Real estate CPI Group significantly expands across the European markets and we have a unique possibility to make the most of this potential, financial strength and superadds its knowledge to our professional know-how. Our Hungarian unchanged team continues its activities with the ordinary attitude provided by an international, strong company.“ - said Adrienn Lovro, who holds her position as Country Manager of Hungary & Romania. CPI Hungary handle the assets of Ablon and Endurance Fund, totally it manages about 220,000 sq m in Hungary.
Ablon was legally and organizationally integrated into the CPI Group on May 2013. „Process of restructuring of the company we began to implement last year. The purpose is a consolidated company that aims at higher efficiency and lower costs, responds more flexibly to changing market conditions, and has a uniform organizational structure with clearer rules of economic management. These processes successfully completed, therefore we felt the time had come to change the name and complete the integration into the structures of CPI Group” - said Zdeněk Havelka, CEO of CPI Group. – These changes - in addition to commercial plans - also reflect in the change of corporate design.
CPI Group, owned by Radovan Vitek, is a leading Czech real estate group engaged in the investment, development and property management in Central Europe. The value of assets managed by CPI Group at the end of 2013 exceeded €2,9 billion with ambitions to become a leader in the CEE market. Across all segments CPI Group owns and manages 610,000 sq.m. of retail space, 407,000 sq.m. of current office space, 12,600 rental flats, 17 hotels with 8,000 beds and 212,000 sq.m of storage and light industry space. Present portfolio is represented in Czech Republic, Slovakia, Hungary, Poland, Romania and France. At the end of 2013 CPI also acquired Endurance Fund, company with assets in the same countries and together with Ablon represents the acquisition targets in CEE. The flagship project under construction is a multifunctional complex Quadrio in the Prague city center that connects the supply of top offices, luxury apartments and a shopping gallery with facilities for rest and leisure. Foreign star of CPI Group is a luxury residential housing project called Palace Maeterlinck on a cliff on the seaside resort of Nice (FRA) with total investment exceeding EURO 150 million.
Key projects from the acquisition of the developer Ablon are BC 99 Business Park with offices of various sizes satisfying different needs for working and representative place in the main business corridor district of Budapest, Gateway Office Park with the headquarter of Hungarian Post located at the Pest side of Árpád Bridge, in one of the fastest developing and most fashionable business district of the capital, Europeum Shopping Center with the four star Marriott Courtyard Hotel.
Some of these cookies are essential, while others help us to improve your experience by providing insights into how the site is being used.
Accept Recommended Settings
Necessary cookies enable core functionality such as page navigation and access to secure areas. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
Analytical cookies help us to improve our website by collecting and reporting information on its usage.
We use marketing cookies to help us improve the relevancy of advertising campaigns you receive.
Social Sharing Cookies
We use some social sharing plugins, to allow you to share certain pages of our website on social media.