The leasing activity in the Budapest office market remained strong with more than 253,000 sq m office space leased in the first half of 2018. In total, commercial real estate agencies were involved in 173,000 sq m of office leasing transactions, from which CBRE completed the largest amount of transactions, 42,245 sq m equating to 24.4% market share in the Agents market.
The cornerstone ceremony for Nordic Light, Skanska Property Hungary’s 7th office building in Budapest, was held on April 2nd. Located conveniently on inner Váci Road, Nordic Light is to become one of the most prestigious new office buildings in the capital of Hungary. CBRE was appointed as the exclusive letting agent of Nordic Light office building.
According to Cushman & Wakefield (C&W) the world’s largest privately held commercial real estate services firm’s latest Central European office market update, by the end of September 2014 take-up in the CEE region exceeded 1.17 million sq m compared with only 410,000 sq m of new supply being delivered to the market.
Skanska started the construction works of its seventh office building in Budapest. Nordic Light, as it has been named, is being developed on inner Váci road, the main office corridor of Budapest. Phase I is scheduled for completion in the first quarter of 2016.
Three Budapest office buildings of Raiffeisen Evolution (RE) recently won certifications in Gold by ÖGNI at the end of September. The Austrian Sustainable Building Council awarded REsidence 1 and 2 office buildings and Rumbach Center with the most prestigious recognition. Rudolf Riedl, managing director of RE project development Kft. summarized the recently finished process.
Veeva Systems Inc., a leading provider of cloud-based software for the life sciences industry, signed a long-term lease for 1,300 square meters of space in the Alkotás Point office building. With this deal the building’s occupancy has increased to over 90 percent. CBRE represented the landlord during the negotiations, while Eston introduced the tenant into the building.
IMMOFINANZ Group has signed several large lease agreements for its Hungarian office and logistic buildings for more than 8,000 sq m. All of the rentals have been concluded for a period of at least three years.
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