One of the leading road construction groups of Hungary opens its new headquarters in the capital's 11th district with the assistance of CBRE. The nearly 5,000-square meter Daróczi 30 office building is located in central Buda near to the junctions of Karolina út and Villányi út. Its new tenant is opening its Hungarian headquarters in the building, formerly occupied by Austrian construction company, Strabag.
Hungary is experiencing a revival of its economic performance and real estate investment activity which follows several years of poor performance amid the wider European and global financial climate. “A guide to real estate investment in Hungary”, the new publication of JLL Hungary highlights that since 2013 numerous macro-economic indicators have improved and this has started to translate into real estate investment activity.
Office Garden II has received Gold Certification under LEED® (LEED for Existing Buildings: Operations and Maintenance, EBOM) rating scheme ─ the OGH News-Agency learnt from Norbert Szircsák, Senior Associate of Colliers Green Advisory Services. Compared to other office buildings in the market, in terms of energy consumption per m2 Office Garden II is ranked among the best and received significant score in the energy category of the LEED rating system.
Appetite for commercial real estate has been on the rise worldwide due to the low achievable yields in other investment assets. In line with the improving economic fundamentals, there is also strengthening investment sentiment towards Hungary. The property Investment volume shows considerable growth on last year’s level.
The European commercial real estate investment market continued its strong performance in H1 2014, with France and Germany the main drivers of growth and the Netherlands, Sweden and Spain making significant contributions, according to the latest research from CBRE.
CBRE today announced the appointment of Lóránt Kibédi Varga as Managing Director of CBRE Hungary. He returns to CBRE having previously headed up its Hungarian business between 2003 and 2005.
The Hungarian investment market was perceived to be improving over the last 12 months, but Colliers International has only recently been able to report that available opportunities have converted into significant deals.
European commercial real estate investment activity totalled €44 billion in Q2 2014, reflecting a 28% rise year-on-year, and an increase of 10% on Q1 2014. Strong first half year results pushed commercial real estate investment volumes in Central & Eastern Europe (CEE) (excluding Russia) to €2.5bn, an increase of 15% on the same period for 2013, according to the latest research from global property advisor, CBRE.
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