The Budapest Research Forum (hereinafter the ‘BRF’, which comprises of CBRE, Colliers International, Cushman & Wakefield, Eston International, JLL and Robertson Hungary) hereby reports the Q3 2016 office market analysis.
The 433+ million members of LinkedIn have voted with their actions and selected JLL (NYSE:JLL) as one of the top companies in the world at attracting and keeping top talent. The Top Attractors list is the first ranking of its kind based entirely on user activity such as job applications, career website engagement and employee retention. Ranked in 29th position globally, JLL is the only real estate company on the list.
JLL has been exclusively appointed to represent the landlord in the letting of the office spaces in several properties at Budapest Airport. Altogether 8,300 sq m office space is available in various buildings and locations between Terminal 1 and Terminal 2.
Jones Lang LaSalle Incorporated (NYSE: JLL) announced that it is separating the roles of President and Chief Executive Officer and that Christian Ulbrich, currently CEO for the EMEA region, will become President of JLL. Colin Dyer will retain the role of CEO and continue to guide the firm’s global strategy, with a particular emphasis on IT and data strategies, and oversee LaSalle Investment Management as well as the firm’s finance, human resources, legal and marketing functions. Additionally, Guy Grainger, currently UK Chief Executive, will succeed Ulbrich as EMEA CEO, and Chris Ireland will become UK Chief Executive. All changes are effective June 1, 2016.
In 2015 JLL’s market leader Tenant Representation department closed a record year as it took part in more than 50,000 sq m office space lettings reaching a 33% market share in the consulting market.
The Hungarian commercial real estate market reached the highest volume since the peak of the market in 2007 with ca. €790 million transacted in 2015. Almost 60% of the annual volume was generated by portfolio transactions, which clearly reflects the increasing interest of investors for large platforms in an attempt to gain significant exposure to the market.
TPG Real Estate, the real estate arm of global private investment firm TPG has closed its acquisition of TriGranit, one of the main fully integrated, real estate platforms in Central Europe. As part of the transaction, TPG acquired the platform along with a portfolio of office and retail assets located in Poland (Bonarka Shopping Centre, B4B), Hungary (Millennium City Centre Offices) and Slovakia (Lakeside Park office building, Metropolis – 47,5 ha land near Bratislava) with additional development sites in the same countries and Croatia.
International advisory company JLL presents its preliminary summary of investment transactions concluded in Q1-Q3 period of 2015 on the commercial real estate markets across Central and Eastern Europe (CEE). The summer months have again seen a hive of activity across the CEE with a preliminary transaction volume of well over €2.8 billion recorded in the third quarter.
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