Budapest, 29 October 2020 - Despite COVID-19 impacts on markets, flow volumes remain relatively healthy for the first 3 quarters of 2020 at ca. €8.0 billion. Poland attracted €4 billion which represents 50% of all volumes in this period.
After several months of refurbishment works and lock down, on October 1st Cinema City opened its first VIP movie theater on the Buda side in Mammut Shopping and Entertainment Centre.
As part of its transition into a hybrid retailer that conducts both online and offline salesmanship, eMAG opened its first shopping center unit on 300 sq m in Mammut Shopping and Entertainment Center in Budapest owned by NEPI Rockcastle. eMAG’s new store in Mammut I. also has a warehouse with space for thousands of products and will also act as a pick-up point for online orders.
JLL (NYSE: JLL) is pleased to announce the next stage in its ambitious sustainability program by committing to achieve net zero carbon emissions across all JLL-occupied buildings by 2030. The firm also advocates a net zero approach for all its clients and suppliers.
Katalin Honi has been appointed new Head of Property and Facilities Management for Colliers in Hungary, as per mid-September.
Colliers International Hungary is pleased to announce, that Miklós Ecsődi has been promoted to the position of Head of Occupier Services, effective from September 2020.
We expect that a fair amount of market activity in 2020 will come from lease renegotiations and renewals as opposed to new and pre-lease transactions. We might record more sub-leases being offered if companies need to downsize. Tenant covenants will receive additional scrutiny by landlords, banks and investors in order to limit risk to a sustainable income.
The transaction, one of the largest office deal investments in CEE this year was signed in May and closed in early June. Even if several investment transactions were derailed by the Q2 lock-down in Hungary, the transaction progressed in line with the original time frame.
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