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Office Market News

SAVILLS COMPLETES ACQUISITION OF Cluttons middle east business

6/7/18

International real estate advisor Savills has completed the acquisition of Cluttons Middle East, a leading real estate consultancy business in the region.  The business employs 190 staff in seven locations throughout the region, providing Agency, Management and Consultancy advice in both the Commercial and Residential sectors.  The acquisition, which was completed on 31 May will see Savills take full ownership of Cluttons Middle East, a business which has been established in the region for more than 40 years.

Celanese and Citibank choose Promenade Gardens office building owned by Erste Real Estate Fund

6/4/18

Anchor tenant Celanese was the first to move into just completed Promenade Gardens office building last week, now occupying their new 4,200 sqm headquarters. They will soon be followed by Citibank Europe, as the Hungarian Branch Office of the global bank is setting up its new 8,000 sqm Budapest office from 1 December in the A+ category property owned by Erste Open-Ended Real Estate Fund and developed by Horizon Development.

Offices in South Buda Welcome New Technology Companies

6/4/18

Technology companies traditionally prefer office buildings that are close to universities and other ICT companies they cooperate with. One of Budapest’s most sought-after office submarkets is South Buda where the Science Park office building welcomes its newest tenants - AVL Autokút, Flex, Hydro Extrusion Hungary and Solvo Biotechnology, renting together more than 4,300 sq meters of prime office space.

IMMOFINANZ with strong operating development in the first quarter of 2018 – cost savings take effect

5/30/18

Results of operations double to EUR 35.5 million

WING has officially handed over the new Ericsson HQ.

5/29/18

On May 29th, 2018, one of Hungary’s most modern office buildings, the Ericsson House, was officially handed over in the presence of the Prime Minister of Hungary and Ericsson’s worldwide CEO. This new building, developed by WING, features not only offices, but also one of the Swedish company’s largest European Research & Development centers.

JLL provided tenant representation for a US corporation

5/24/18

As the result of JLL's latest successful tenant representation a new Shared Service Center enters Hungary and signed a long-term office leasing agreement.

Budapest amongst the regional leaders on the hotel market

5/23/18

The CEE hotel market experienced rapid growth in the last three years both in terms of hotel performance and transaction volume due to the dynamically expanding tourism industry.

Start-up Safary, or in two days around the globe

5/17/18

A short quiz: what is common in Morgan Stanley, SAP, Prezi, Budapest Bike Maffia, OTP LAB, ELTE, Balabit and hundreds of smaller and larger companies? The answer lies within arm’s reach: the 3rd international Start-up Safary was held in Budapest this April. Just imagine: more than 3,000 participants, 311 programs including representatives from the above listed companies.

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