Commercial Site Agency
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Construction starts on Budapestʼs Millennium Gardens office complex
TriGranit has announced the start of construction of its new "Class-A" office development, Millennium Gardens, which is the final element of the Millennium City Center in Budapest. The completion is expected by 2020 and will provide a leasable area of 37,000 sqm.
Etele Plaza shopping mall construction begins
Futureal Group has begun construction of the Etele Plaza mall in Budapest, near the Kelenföld railway station. The shopping and entertainment center, with a gross building area of 155,000 square meters, will be the biggest of its kind on the Buda side of the city.
Atenor Group lays cornerstone of major office complex
Belgian real estate developer Atenor Group Hungary laid the cornerstone of a 72,000 square-meter office complex, dubbed Aréna Business Campus, in Budapestʼs District 8 on Wednesday. Work is set to begin on the cityʼs Hungária körút thoroughfare within a few weeks.
Budapest commercial property rents on the rise
Over a two-year period until the end of 2017, typical rents for commercial properties in Budapest increased by more than 15%, a relaunched survey by the National Bank of Hungary (MNB) and the Royal Institution of Chartered Surveyors (RICS) has found, as reported by national news agency MTI.
Atenor hands over Váci Greens building ‘D’
Belgian real estate developer Atenor has delivered the fourth phase of its Váci Greens office complex, building "D." All four of the buildings completed thus far have already been sold. The fifth and sixth phases, buildings "E" and "F," are set to be completed in the following 2-3 years, according to a press release sent to the Budapest Business Journal.
Goodman building Hungaryʼs largest warehouse for Auchan
French-owned international retailer Auchan Retail will increase its commercial capacity in Hungary with a new, integrated logistics center at the Üllő Airport Logistics Center near Budapest. The 87,200 square-meter greenfield facility will be the largest of its kind ever built in Hungary.
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.
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.
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.
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.