News - Firstclean

Colonnade Insurance chooses Balance Loft

Colonnade Insurance is to move to the Balance Loft office building on Váci út in downtown Budapest, according to a press release sent to the Budapest Business Journal. Read

Budapest ʼWhaleʼ may go on sale for HUF 11 bln

Budapest City Council will consider a proposal to sell the "Whale" (Bálna), a cultural, recreational and commercial center on the Pest bank of the Danube, for no less than net HUF 11 billion, a proposal on the agenda for a meeting of city leaders scheduled for Wednesday shows, as reported by state news wire MTI. Read

CPI Property Group issues European market bonds

Moody’s has assigned a first-time "Baa3" long-term issuer rating to Luxembourg-based CPI Property Group with a stable outlook. The same rating was given to the Group’s bond program. Read

High yields confirm Eiffel Palace’s market value

Soon after its 2014 delivery, the 125-year-old Eiffel Palace building in Budapest was 100% leased to prestigious local and international companies under long-term contracts. With the second divestment transaction announced last week, Eiffel Palace has generated very high yields, claims a press release sent to the BBJ today. Read

Vacancy rate on Budapest industrial property market at record low

The vacancy rate on Budapestʼs industrial property market dropped 0.4 percentage points from three months earlier to a record low of 5.5% at the end of the second quarter, the Budapest Property Consultants Coordination Forum (BIEF) said on Friday, Hungarian news agency MTI reported. Read

Ecodome office building construction begins

Real estate developer Redwood Real Estate Holding has recently started construction on a speculative basis of the 5,000 square-meter, A+ category, LEED Platinum pre-certified Ecodome office building in the heart of Buda, according to a press release sent to the Budapest Business Journal by Cushman & Wakefield, representing the landlord. Read

Gateway Office Park undergoing renovation

Gateway Office Park, an office complex comprising three towers, is currently being renovated, and works are scheduled to be finished by the first quarter of next year at the latest, according to a press release sent to the Budapest Business Journal by real estate firm CPI Hungary. Read

Debrecen to get speculative new Class ʼAʼ office building

The building, called Forest Offices Debrecen and set to be completed in Q3 2018, is designed by Bord Architect Studio. Office leasing, green certification and project consultation will be provided by the Hungarian office of Colliers International. Read

Kálvin Square office building reaches 96% occupancy

ConvergenCE’s Kálvin Square office building of has reached 96% occupancy with 18 tenants, including companies such as Philip Morris Hungary, Faludi Wolf Theiss Lawyers, Aegon Hungary and GEOX, leaving only 136 sqm office space available to be let, according a press statement sent to the Budapest Business Journal. Read

Váci Greens’ Building B occupancy to reach 90% in July

With the arrival of an unnamed international service provider that will rent 5,200 sqm of office space in building “B” at the Váci Greens office park as of July, the occupancy rate will be raised to around 90%, according to a press statement sent to the Budapest Business Journal. Read

Novodata moves into Blue Cube in Váci Corridor

Pharmaceutical software development firm Novodata is moving into the Blue Cube offices in the Váci Corridor, leasing more than 950 sqm of office space, according to a press statement sent to the Budapest Business Journal. Read

Real estate in Hungary and VAT charges

In recent years, real estate transactions in Hungary have accelerated greatly as the housing market steadily continues to rise, especially in the country’s capital, says DLA Piper Hungary. Read

Skanska develops Mill Park with ‘well being’ in mind

Skanska is developing its newest Hungarian office complex, Mill Park, following the latest trends of companies consciously striving to create an innovative, comfortable and above all healthy working environment for their employees, according to a press statement sent to the Budapest Business Journal. Read

Prologis acquires M0 Central Business Park near capital

Prologis European Properties Fund II (PEPF II) has acquired the M0 Central Business Park in Hungary from IDI Gazeley, adding 31,443 square meters of distribution space to the Hungarian portfolio of Prologis, according to a press statement sent to the Budapest Business Journal today. Commercial real estate services firm JLL facilitated the transaction. Read

Commercial real estate investment reaches €270 mln in Q4

Total commercial real estate investment transaction volume in Hungary reached some €270 million in the fourth quarter of last year, pushing the 2016 volume to above €1.7 billion, the highest annual figure since 2007, according to JLL Hungary’s latest preliminary statistics sent to the Budapest Business Journal today. Read