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FLE acquires two office buildings in Budapest

FLE acquires two office buildings in Budapest
Austriaʼs FLE GmbH has reinforced its position in Hungary by acquiring two new office properties in Budapest on behalf of the Luxembourg-based fund FLE SICAV FIS, according to a press release sent to the Budapest Business Journal. Read more

OTP LAB starts R&D activity in Váci 1

OTP LAB starts R&D activity in Váci 1
OTP Bank has set up a new, 450 square-meter research and development center in the historic downtown building of Váci 1. The office features a special education center, project rooms and a lecture hall, according to a press release sent to the Budapest Business Journal. Read more

Chinese keen to buy real estate in Hungary

Chinese keen to buy real estate in Hungary
The Chinese are showing a growing interest in buying real estate in Hungary. Last year 40% more Chinese were searching for apartments in Hungary than a year earlier, online news portal index.hu reports. Read more

Government to purchase ‘Whale’ commercial center

Government to purchase ‘Whale’ commercial center
The Hungarian government will purchase the "Whale" (Bálna) cultural, recreational and commercial center on the banks of the Danube from the local council of Budapest, János Lázár, who heads the Prime Ministerʼs Office, said at his weekly press briefing on Thursday.   Read more

Colonnade Insurance chooses Balance Loft

Colonnade Insurance chooses Balance Loft
Colonnade Insurance is to move to the Balance Loft office building on Váci út in downtown Budapest, according to a press release sent to the Budapest Business Journal.  Read more

Budapest ʼWhaleʼ may go on sale for HUF 11 bln

Budapest ʼWhaleʼ may go on sale for HUF 11 bln
Budapest City Council will consider a proposal to sell the "Whale" (Bálna), a cultural, recreational and commercial center on the Pest bank of the Danube, for no less than net HUF 11 billion, a proposal on the agenda for a meeting of city leaders scheduled for Wednesday shows, as reported by state news wire MTI. Read more

CPI Property Group issues European market bonds

CPI Property Group issues European market bonds
Moody’s has assigned a first-time "Baa3" long-term issuer rating to Luxembourg-based CPI Property Group with a stable outlook. The same rating was given to the Group’s bond program. Read more

High yields confirm Eiffel Palace’s market value

High yields confirm Eiffel Palace’s market value
Soon after its 2014 delivery, the 125-year-old Eiffel Palace building in Budapest was 100% leased to prestigious local and international companies under long-term contracts. With the second divestment transaction announced last week, Eiffel Palace has generated very high yields, claims a press release sent to the BBJ today. Read more

Vacancy rate on Budapest industrial property market at record low

Vacancy rate on Budapest industrial property market at record low
The vacancy rate on Budapestʼs industrial property market dropped 0.4 percentage points from three months earlier to a record low of 5.5% at the end of the second quarter, the Budapest Property Consultants Coordination Forum (BIEF) said on Friday, Hungarian news agency MTI reported. Read more

Ecodome office building construction begins

Ecodome office building construction begins
Real estate developer Redwood Real Estate Holding has recently started construction on a speculative basis of the 5,000 square-meter, A+ category, LEED Platinum pre-certified Ecodome office building in the heart of Buda, according to a press release sent to the Budapest Business Journal by Cushman & Wakefield, representing the landlord. Read more