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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?
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.
Airport City Logistics Park ʼs new hall tops out
The E-F hall of the newest "big-box" building of CPI Property Groupʼs Airport City Logistics Park, which will be delivered in Q1 2019, had a topping out ceremony after reaching its highest point, according to a press release sent to the Budapest Business Journal.
Agora Budapest to host Raiffeisen
International real estate developmer HB Reavis has announced that Raiffeisen Bank Hungaryʼs HQ will be moved to the Agora Budapest complex on Váci út, with the bank set to rent 20,000 square meters of office space in Agora Tower, says a press release sent to the Budapest Business Journal.
Skanska delivers Mill Park office complex
Budapestʼs Mill Park office complex, Skanskaʼs eighth development in Hungary, has been officially opened, with lease agreements signed for 90% of the premises, according to a press release sent to the Budapest Business Journal.
Eiffel Square Office Building gets terrace renovation
Eiffel Square’s park and the Office Building terraces have been fitted with a new, future-proof and environmentally friendly wood-plastic composite (WPC) deck flooring on 1,500 square meters, available to both tenants and park visitors, according to a press release sent to the Budapest Business Journal.
MOM Park sale transaction completed
Real estate developer and investment company Wing Zrt. announced on Friday the sale of the MOM Park shopping mall and office property building complex in Buda. The value of the transaction has not been disclosed.
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.