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Office Market News

Cushman & Wakefield transacts 11 assets with M7

6/13/17

M7 Real Estate has increased its penetration in the Hungarian market through the acquisition of seven light industrial assets across the country.

Cushman & Wakefield transacts 11 assets with M7

6/13/17

M7 Real Estate has increased its penetration in the Hungarian market through the acquisition of seven light industrial assets across the country.

A Balaton Atmosphere in the City Centre: Zsiráf Terrace reopens at Eiffel Square

6/7/17

The Zsiráf (Girraffe) Terrace is open again, at the bottom of the Eiffel Square Office Building, in the middle of a green park, near a pond with waterfalls. Here, in one of Budapest’s most popular beer gardens, the programme calendar is filled with regular exhibitions, fine arts fairs, Sunday markets, acoustic concerts and DJ performances.

IMMOFINANZ with clearly positive net profit in the first quarter of 2017

5/30/17

IMMOFINANZ generated net profit of EUR 101.7 million from continuing operations, i.e. excluding Russia, in Q1 2017 (Q1 2016: EUR -139.3 million). Rental income totalled EUR 57.1 million for the reporting period, compared with EUR 58.2 million in Q1 2016. The slight decline of 1.9% resulted primarily from portfolio adjustments involving the retail sector in Austria. After an adjustment for new acquisitions, completions and sales (like-for-like), rental income rose by 3.7% to EUR 49.7 million in the starting quarter of 2017. Results of operations equalled EUR 17.8 million (Q1 2016: EUR 57.2 million). Financial results improved substantially to EUR 93.0 million (Q1 2016: EUR -37.3 million), above all due to positive valuation effects from the investments in CA Immo and BUWOG.

New airport hotel structurally complete

5/24/17

Eight months after earthworks began and the foundation stone was laid, all the floors of the first airport hotel in Hungary with direct terminal access have been constructed, and the highest point of the structure has been reached. During the traditional topping-out ceremony, the managers of WING Zrt., the developer, and Budapest Airport announced that the hotel is due to receive the first guests at the end of this year, as planned.

SALAD BoX salad bar opens at Eiffel Square Office Building

5/23/17

A fast and healthy lunch at work is no longer unavailable: in fact, that is just what SALAD BoX Nyugati offers at the Eiffel Square Office Building. The salad bar serves full menus with fresh and high quality ingredients, such as cream soups, salads, freshly squeezed fruit juices and healthy desserts – and not just for people on a diet!

It is official: JLL has started the lease of Exchange Palace as exclusive agency

5/18/17

JLL’s office group has received the exclusive leasing mandate of Exchange Palace which is one of Budapest’s most prominent office building projects at the moment.

New, Class A office building to be built in Debrecen

5/18/17

The construction of a new Class A office building was announced in Debrecen. The 22,000 sq m office building will be constructed using the latest technical and eco-friendly solutions, and it will be the largest office building in Eastern Hungary. The building, set to be completed in the 3rd quarter of 2018, is designed by Bord Architect Studio; office leasing, green certification and project consultation will be provided by the Hungarian office of Colliers International.

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Harkácsi István

+36 30 644 7655


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