News

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

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

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

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

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

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

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. Read

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. Read

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. Read

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. Read