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High number of offshore companies in real estate sector

High number of offshore companies in real estate sector
The number of offshore companies in Hungary has halved in seven years, but this does not mean that concealment and tax optimization have been reduced, says azenpenzem.hu.  Read more

Budapest modern industrial stock nears 2.25 mln sqm

Budapest modern industrial stock nears 2.25 mln sqm
The Budapest Research Forum (BRF) says that total modern industrial stock in Budapest and its surroundings stood at 2,246,960 sqm at the end of Q4 2019. Read more

Millennium Gardens construction reaches ground floor level

Millennium Gardens construction reaches ground floor level
The construction of Millennium Gardens, TriGranit’s newest office development in Budapest, has reached the ground floor level, the developer tells the Budapest Business Journal. Read more

ExxonMobil to move into GTC Pillar office building

ExxonMobil to move into GTC Pillar office building
The ExxonMobil Global Business Center has signed a lease agreement, involving the entirety of the GTC Pillar office building, currently under construction and due for delivery early Q1 2022, according to a press release sent to the Budapest Business Journal. Read more

Futureal starts last office project on Corvin Promenade

Futureal starts last office project on Corvin Promenade
Hungary-based property developer the Futureal Group has commenced development of the final office complex, Corvin7, on the Corvin Promenade development in Budapest, the company told the Budapest Business Journal. Read more

FLE portfolio value reaches EUR 1 bln, with 98.5% occupancy

FLE portfolio value reaches EUR 1 bln, with 98.5% occupancy
FLE GmbH, a member of the LFPI group, says that the occupancy rate at its portfolio in Austria, Germany and Switzerland and in CEE has risen to 98.5%, with the overall value reaching about EUR 1 billion. Read more

Cordia building tallest residential project so far in Warsaw

Cordia building tallest residential project so far in Warsaw
Cordia, the Hungary-based Futureal Groupʼs residential development subsidiary, has started building its highest residential building project in Warsaw, named Horyzont Praga, bringing 164 apartments on 18 floors right next to the river Vistula. Read more

Europe's Newest Biggest Skyscraper Under Construction In Warsaw

Europe's Newest Biggest Skyscraper Under Construction In Warsaw
Already 75 metres high, with its construction now exceeding 17 floors, the soon-to-be tallest skyscraper in Europe, the Varso Tower, currently being built in Warsaw, is set to be finished next year. Upon completion the structure will stand at 310 metres and it will unseat 309.6 metre Shard in London from its top position. Read more

Skanska’s Nordic Light Trio sold to Korean investment trust

Skanska’s Nordic Light Trio sold to Korean investment trust
Skanska has sold its Nordic Light Trio office building in Budapest to JR AMC, a South Korean real estate investment trust. This is the buyerʼs first office investment in the CEE region after transactions in Vienna, Dublin, and Paris, according to a press release sent to the Budapest Business Journal. Read more

Balance Hall welcomes RSM Hungary as new tenant

Balance Hall welcomes RSM Hungary as new tenant
RSM Hungary, which provides advisory services in the field of tax, audit, accounting and payroll, will move in as a new tenant of CPI Groupʼs Balance Hall in December 2019, renting an entire floor of the building on Budapestʼs Váci Corridor. Read more