CPI PROPERTY GROUP receives property investment accolade
CPI PROPERTY GROUP has received the accolade of Investment Deal of the Year, CEE at the Eurobuild Awards.
Office market news
News, analysis and lease transactions from the Hungarian office market
Shopping Centres to Reinvent Themselves as Simply ‘Centres’ by 2030
Shopping Centres of the future will become just ‘centres’ and will reinvent themselves as mixed-use destinations. Healthcare, educational and leisure facilities will all become a fundamental part of the shopping centre, according to new insights from the Future of Retail 2030, by the world’s leading real estate services firm, CBRE.
Move in to your new office within 24 hours - – myth or truth?
“Sign today and move in tomorrow.” – is the motto of a provider that has been turning Budapest’s instant office market upside down in the last 3-4 years. This is NEW WORK Serviced Offices (NWSO).
The lowest vacancy rate for years in Central Buda
The award-winning Alkotás Point, a class “A” office building, is one of the few on the domestic market of office buildings that boasts a 15-year history of regular tenant contract renewals, area extensions and a nearly 100% occupancy rate. Heitman, the owner of the three-tower building, spent a record amount on developments a few years ago and is continuously monitoring possibilities for the creation of an environmentally friendly and “inspiring” work space. The regularly upgraded services and efforts driven by environmental awareness guarantee the prestige and lasting value of the building located the western entrance to the city.
New Telekom Headquarters building structurally complete
The development of Hungary’s largest office building to be constructed in a single block has reached an important milestone: the new Telekom Headquarters building is now structurally complete.
A Destination, Not Just a Workplace
In October 2017 the Hungarian representation of one of the world’s largest travel e-commerce companies moved to a new office within their former office complex, now residing in the Platina Tower of Bank Center. The design, construction and project management works of the attractive, almost 470 sq m unit of Booking.com were all done by DVM group.
IMMOFINANZ strengthens balance sheet and posts significant improvement in net profit for the first three quarters of 2017
IMMOFINANZ posted a significant increase in net profit from continuing operations (excl. Russia) for the first three quarters of 2017, to EUR 116.3 million (Q1-3 2016: EUR -217.8 million). Rental income remained stable at EUR 174.1 million despite the ongoing sale of non-strategic properties (Q1-3 2016: EUR 174.0 million). Adjusted for new acquisitions, completions and sales (like-for-like), rental income rose significantly, by 3.9% to EUR 138.4 million. The results from Asset Management grew 11.3% to EUR 122.6 million; financial results moved strongly into positive territory at EUR 88.6 million (Q1-3 2016: EUR -143.9 million). This was primarily a result of positive valuation effects from the CA Immo and BUWOG shareholdings, and lower financing costs. Overall, net profit (incl. Russia) improved to EUR -59.1 million (Q1-3 2016: EUR -409.5 million).
South Buda Is the Next Favourite Location for Companies and Office Developers
The public transport developments of the recent years, the proximity of major universities and the vibrant residential developments make South Buda attractive for companies. Recognizing the situation, more and more developers are building new office buildings in the area. Bischoff & Compagnons has also scheduled the delivery of the Alphagon Office Building by mid-2019.
