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Office Market News

CBRE Group named Euromoney’s leading global real estate advisor for the second consecutive year

9/23/13

CBRE Group, Inc. has been named the top global real estate advisory firm for the second consecutive year in the Euromoney Real Estate Awards for 2013. CBRE is the only firm to achieve top honours in back-to-back years, and has now won this prestigious award six times since Euromoney launched its real estate awards program in 2005. In Hungary CBRE Budapest has won all of the four awards.

Fressnapf is opening gigantic stores

9/17/13

Europe's leading pet food and accessories store chain is opening its first store based on the new "XXL" concept in the Új Buda Center with the support of CBRE. Fressnapf has been considering for a long time opening stores in Hungary that are twice the size of its usual stores.

Exclusive and Cost-effective: This Is How Bank Center Attracts Tenants

9/17/13

The premium office building in downtown Budapest has two new tenants. There has been almost 1,600 square meters of transactions completed during the summer and that leads to an outstanding occupancy rate of 88% at Bank Center.

Andrássy Avenue: may yet become a tenants’ paradise

9/16/13

Increasing demand for retail space, more and more office tenants beyond the Oktogon - In 2013 the real estate market of Andrassy Avenue became active once again: a number of new brands entered the street’s retail pitch, the fate of the former Ballet Institute finally seems settled, and more and more companies are choosing the classical mansion buildings as their headquarters - according to a snapshot of CBRE.

Váci188 Office Building reopened, mostly with local IT companies

9/13/13

Váci188 Office Building reopened in Budapest, Hungary, with dynamically growing ICT companies, as well as financial services and consulting firms. 1,700 square meters have been leased in Váci188– owned by developer, ORCO Property Group - to companies that achieved favorable terms through collective negotiations, currently characterizing the office market.

International Commerce Centre, Hong Kong - One of the Top ten highest buildings

9/10/13

Construction of the International Commerce Center (ICC Tower) was completed in 2010. The tower opened in 2011, with the Ritz-Carlton(102-118floors - currently the highest hotel in the world) opening in late March and the observatory in early April. ICC Tower's gross floor area is 274,064 m2 / 2,950,000 ft2.

Deutsche Telekom to locate service centre in Budapest

9/10/13

Deutsche Telekom is to set up its International TV Service Centre in Hungary, to co-ordinate the development of high added value television services of its subsidiaries in Croatia, Greece, Macedonia, Montenegro, Romania, Slovakia and Hungary.

Central bank signs FX swap agreement with People’s Bank of China

9/10/13

Hungary’s central bank has signed a three-year bilateral foreign currency swap framework agreement worth 10 billion yuan (EUR 1.23 billion) with the People’s Bank of China, the National Bank of Hungary said on Monday.

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