The Budapest Research Forum (BRF, which is comprised of: CBRE, Colliers International, Cushman & Wakefield, DTZ, Eston International, JLL and Robertson Hungary) hereby reports its Q2 2014 office market analysis.
CPI Hungary, former Ablon, owned by CPI Group has successfully concluded the largest office lease transaction of the year to date with Vodafone for over 13,800 sq m in Arena Corner Office Building, in Budapest. Vodafone was represented by Cushman & Wakefield, the world’s largest privately held commercial real estate services firm.
CBRE announced that William Shim has joined the firm in an effort to build and strengthen relationships with Korean Occupiers in the Central Eastern Europe region. William joins the firm as a Senior Consultant – APAC/Central and Eastern Europe and will be an integral part of the teams in the region, reporting to Joerg Kreindl, heading up Industrial in CEE for CBRE.
Colliers International Hungary have won two additional exclusive mandate from the S IMMO Hungary portfolio: Podium, the uniquely fully vacant office building in the CBD submarket on the Hungarian Broadway; and Blue Cube, a recently refurbished office building on the Váci corridor, also the winner of „The office building of the year” People’s Choice Award at the 4th iroda.hu Awards Gala.
CBRE Hungary continues to expand and strengthen its operations with the launch of its Asset Services business line. The new department is led by Zsolt Kákosy as Head of Asset Services and focuses on various fields of property management. The team has been built up since January and is now increased to over 30 professionals, managing 150,000 sq m of real estate.
The initiative of RICS members resulted in the establishment of the Real Estate Agency and Brokerage Standards (REABS), which provides best practice guidance for real estate agents and brokers internationally. The agencies who endorse the 12 points of the codex ensure that clients receive objective advice, delivered in a professional manner that is consistent with internationally recognized standards.
The SEE region offers investment possibilities across such countries as Serbia, Croatia and Romania with the office and industrial sectors providing potentially higher returns with increased risk than the more established but increasingly competitive markets in Central and Western Europe. Although one of the major obstacles to investment market development is the limited supply of office and industrial investment grade product despite tenant demand.
The Pactera Technology IT consultancy firm chose Dorottya Udvar, recently awarded with the BREEAM "Excellent" rating, for the location of its new Central European headquarters. The company arriving with major expansion plans begins its work in Dorottya Udvar in 600 square meters.
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