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Office Market News

GLL Acquires Váci 1 from Horizon Development

11/21/16

GLL acquired the multipurpose heritage building that combines retail-, office- and service functions on 13,750 sqm at Vörösmarty Square, the most prominent downtown location of Budapest. The Seller of the recently completed UNESCO World Heritage listed premium asset is the Hungarian development company behind the building’s complete rejuvenation and successful leasing: Horizon Development.

WHAT DO MILLENNIALS REALLY WANT?

11/21/16

Millennials are at the forefront of using technology and it is reshaping the way they shop. However, contrary to expectations, 70% of Millennials prefer to shop in a store instead of online and this is unlikely to dramatically change in the future, according to new research from CBRE, the global property advisor.

Foundation stone laid for new Telekom Headquarters

11/15/16

Péter Szijjártó, Minister for Foreign Affairs, was guest of honour at the foundation stone laying ceremony held on 15 November at the site of the Magyar Telekom headquarters building, which is being built in a proprietary investment by WING Zrt. The event was also attended by Noah Steinberg, chairman and CEO of the developer WING Zrt, and Christopher Mattheisen, CEO of Magyar Telekom Nyrt.

IMMOFINANZ expands STOP SHOP portfolio to 66 retail parks through eight acquisitions

11/14/16

IMMOFINANZ is continuing the expansion of its successful STOP SHOP retail park portfolio with the acquisition of eight locations in Slovakia and Hungary. The purchase price for these properties totals approx. EUR 79.0 million. The newly acquired retail parks have an occupancy rate of roughly 98% and generate annual rental income of approx. EUR 6.6 million.

CBRE has been the partner of E.ON during its moving to the new office building

11/14/16

In October 2016, 600 employees of E.ON Hungária Zrt. successfully finished moving into the V17 office building, Váci út. Furthermore, this has been the largest tenant move in the Budapest office market this year so far.

RICS welcomes new board in Hungary

11/8/16

Enhancing the level of professionalism and transparency in the property industry is one of the missions of RICS in Hungary, who has a new composition of its board.

New CityZens, Tech Mahindra

11/8/16

CityZen, the newly renovated 12,500 m2 office building at Váci út 37 has leased 1,558m2 offices to Tech Mahindra.

Váci 1 and Eiffel Palace win 3 European Property Awards

11/3/16

The London Marriott Hotel Grosvenor Square was home to the European Property Awards Gala Dinner held last Thursday, attracting over 500 guests from across Europe. Váci 1 and Eiffel Palace, Horizon Development’s two redeveloped heritage buildings – both designed and built by DVM group – scooped up three amazing awards at the event.

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Harkácsi István

+36 30 644 7655


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