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Office Market News

Eventful summer at Eiffel Square Office Building

9/7/18

Life hasn’t stopped at Eiffel Square during this summer. The past few years Eiffel Square has become a popular community area in the city center, due to continuous revival and activities provided by the Eiffel Square Office Building and its property manager, ConvergenCE.

Electrolux finds competitive advantage in Promenade Gardens

9/4/18

Market leading professional and household appliances company Electrolux set up its new 1,730 sqm Hungarian headquarters this month in Promenade Gardens, the most technically advanced office building recently completed on the Váci office corridor of Budapest.

IMMOFINANZ with stronger earning power: results of operations more than tripled in half-year, FFO1 rises by 74%

8/30/18

Results of the Q1-2 2018 in HUNGARY as of 30 June 2018

Further rental growth on the Office Market is expected

8/28/18

A strong increase in new supply is expected in the upcoming two years, however, most submarkets will still face rental growth in 2018. Sustained rental growth for Class A properties across all submarkets - except the Periphery - is forecasted.

Investment flows into the CEE-6 region rose 4% YoY in H1 2018

8/14/18

Polish volumes were the drivers of the momentum in the first half of the year. Slovakia saw a rebound in deals whilst Hungary and Czechia saw much slower flow than a year ago, reveals Colliers International, the global industry-leading real estate services company, in its latest 2018 mid-year CEE Investment Scene.

WING, Morgan Stanley and CC Real sell office-retail complex MOM Park to local real estate fund

8/13/18

MOM Park, a 50,000 sqm prime shopping mall and office property in the affluent central Buda location in Budapest was sold by a consortium of a fund managed by Morgan Stanley Real Estate Investing, Hungarian developer and investor WING and Austrian shopping center specialist CC Real to OTP Real Estate Investment Fund.

Colliers International Consolidates Its Operations In Czech Republic With THREESIXTY And Names Tewfik Sabongui As Managing Partner

8/8/18

Colliers International announced today it has agreed to consolidate its business in the Czech Republic with the THREESIXTY Agency, bringing to Colliers their extensive pipeline of deals, relationships and successful track record.

ERSTE Real Estate Fund Acquires Promenade Gardens

8/3/18

Promenade Gardens – the most technically advanced office building recently completed on the Váci corridor – changed owners on 1 August 2018, when ERSTE Real Estate Fund purchased the 97% leased property from the developer, Budapest-based Horizon Development. The new, sought-after, dual certified sustainable asset of 25.000 sqm has already been chosen by a prestigious line of international tenants such as Celanese and Citibank, with more signed deals to be revealed soon.

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