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Office Market News

Skanska sells Nordic Light to Erste Funds

12/21/16

Skanska has sold Nordic Light, an office complex in Budapest, Hungary. The property has been acquired by Erste Alapkezelő Zrt, a subsidiary of Erste Asset Management GmbH. Nordic Light is the seventh office project developed by Skanska in Budapest during the 29 years the company has operated in Hungary.

IMMOFINANZ: Results of operations increased in Q1-2 2016A, net profit negatively influenced by valuation effects

12/20/16

IMMOFINANZ generated results of operations totalling EUR 87.6 million in the first two quarters of the abbreviated 2016 financial year, for an increase of 28.2% over the comparable prior year period. This growth was supported, above all, by an improvement in the results of asset management (plus 5.1% to EUR 107.3 million) following a substantial decline in the write-off of receivables in Russia and lower vacancy-related and operating costs charged to building owners as well as a reduction in other operating expenses (from EUR -53.5 million to EUR -26.1 million).

Pódium: reloaded

12/19/16

Pódium office building took a flying start. Following a technical upgrade and facelifting, S IMMO Hungary’s flagship property was reintroduced to the market at the beginning of 2016. Within twelve months the overall occupancy of the 6,000 sqm building has reached 92%.

Budapest Is Among Europe’s Next Major Tech Hubs

12/19/16

CBRE has published its inaugural Understanding European Technology Clusters report, highlighting the vibrancy and rapid growth of Europe’s tech sector. The report analyses the characteristics of tech clusters and explores future opportunities among high-performing, and emerging, tech cities across Europe.

FLE continues its growth in CEE and acquires an office building in Budapest

12/19/16

FLE GmbH, a company of the LFPI group, continues its investment activity and acquires its first real property in CEE from an international institutional seller. The Seller was represented by JLL.

New Services in CityZen and Kálvin Square

12/12/16

From October 2016, a new service has been available for the occupiers of CityZen and Kalvin Square office buildings. Separate men's and ladies' changing rooms and showers have been installed to provide the opportunity for employees to refresh themselves after a busy day or sport.

Breaking news: Deal of the year - new, Finnish tenant in the city center

12/6/16

New Work Serviced Offices recently finalized one of the most remarkable market transactions on December 6 - just a few hours after business meeting has began. The prestigious Lapland based company deals with logistics, package sending and charitable activities. Its subsidiary signed for a significant office space area at Anker Business Center operated by New Work Serviced Offices.

€1.5 billion transacted on the Hungarian commercial real estate market in Q1-Q3 2016

12/1/16

During the Q1-Q3 2016 period the total commercial real estate investment transaction volume reached some €1.5 billion in Hungary, nearly double the 2015 total volume, a testimony to the sharp liquidity increase – according to JLL Hungary’s latest statistics.

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