News, analysis and lease transactions from the Hungarian office market
Kata Mazsaroff will assume the role of Leasing Director at premium Hungarian real estate developer Horizon Development from September 2020. With her ambitious goals and remarkable professional background, the new executive will be heading the company’s leasing department and participating in the value creation process of the company.
Hungarian real estate developers won two gold and five silver medals in this year's World Prix d’Excellence Awards.
Agora Tower, one of the newest and most spectacular office buildings on Váci Road, opened its doors in June. ConvergenCE has been appointed the exclusive contract to support the owners, HB Reavis to lease the iconic building.
The Budapest Research Forum (hereinafter the ‘BRF’, which comprises CBRE, Colliers International, Cushman & Wakefield, ESTON International, JLL and Robertson Hungary) hereby reports its Q2 2020 office market summary.
We expect that a fair amount of market activity in 2020 will come from lease renegotiations and renewals as opposed to new and pre-lease transactions. We might record more sub-leases being offered if companies need to downsize. Tenant covenants will receive additional scrutiny by landlords, banks and investors in order to limit risk to a sustainable income.
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.
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.
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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