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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

Etele Plaza, Business One developments enter next phase

Etele Plaza, Business One developments enter next phase
The Etele Plaza mall and Budapest One Business Park are set to enter the next phase of development in South Buda, as the former is nearly structurally complete, while the latter already has a complete facade, according to a press release sent to the Budapest Business Journal. Read more

What will bring 2019 to the market of properties?

What will bring 2019 to the market of properties?
The expansion of the European logistics real estate market continued in 2018, ”said Prologis at today's press conference. Demand was strong, the vacancy rate declined, and the long-awaited increase in rental rates began.   At the beginning of 2019, more and more concerns were raised about the mutability of the capital market, about the trade tensions between the US and China and about the potential impact of Brexit on global GDP. Despite the fact that the logistics real estate market closed strongly in 2018, growing concerns at the beginning of the year will inevitably lead to the question: what can we expect in 2019?   Read more

Budapest office market annual demand hits 2015 record in Q4

Budapest office market annual demand hits 2015 record in Q4
According to a report by the Budapest Research Forum (BRF), the modern Budapest office stock was extended by a total of 44,265 square meters in Q4 2018, growing the total modern office stock to 3,628,105 sqm, with a 7.3% vacancy rate, and with total annual demand reaching the 2015 record volume. Read more