Central and Eastern Europe’s regional provider of top financial services – OTP Bank – set up a new, 450 sqm research and development center in the prestigious downtown building of Váci 1. The innovative office features a special education center, project rooms and a lecture hall. OTP LAB (OTP Bank’s retail innovation hub) started its activities on the 4th floor of the UNESCO World Heritage listed building in December 2017.
Shopping Centres of the future will become just ‘centres’ and will reinvent themselves as mixed-use destinations. Healthcare, educational and leisure facilities will all become a fundamental part of the shopping centre, according to new insights from the Future of Retail 2030, by the world’s leading real estate services firm, CBRE.
“Sign today and move in tomorrow.” – is the motto of a provider that has been turning Budapest’s instant office market upside down in the last 3-4 years. This is NEW WORK Serviced Offices (NWSO).
The award-winning Alkotás Point, a class “A” office building, is one of the few on the domestic market of office buildings that boasts a 15-year history of regular tenant contract renewals, area extensions and a nearly 100% occupancy rate. Heitman, the owner of the three-tower building, spent a record amount on developments a few years ago and is continuously monitoring possibilities for the creation of an environmentally friendly and “inspiring” work space. The regularly upgraded services and efforts driven by environmental awareness guarantee the prestige and lasting value of the building located the western entrance to the city.
The development of Hungary’s largest office building to be constructed in a single block has reached an important milestone: the new Telekom Headquarters building is now structurally complete.
In October 2017 the Hungarian representation of one of the world’s largest travel e-commerce companies moved to a new office within their former office complex, now residing in the Platina Tower of Bank Center. The design, construction and project management works of the attractive, almost 470 sq m unit of Booking.com were all done by DVM group.
IMMOFINANZ posted a significant increase in net profit from continuing operations (excl. Russia) for the first three quarters of 2017, to EUR 116.3 million (Q1-3 2016: EUR -217.8 million). Rental income remained stable at EUR 174.1 million despite the ongoing sale of non-strategic properties (Q1-3 2016: EUR 174.0 million). Adjusted for new acquisitions, completions and sales (like-for-like), rental income rose significantly, by 3.9% to EUR 138.4 million. The results from Asset Management grew 11.3% to EUR 122.6 million; financial results moved strongly into positive territory at EUR 88.6 million (Q1-3 2016: EUR -143.9 million). This was primarily a result of positive valuation effects from the CA Immo and BUWOG shareholdings, and lower financing costs. Overall, net profit (incl. Russia) improved to EUR -59.1 million (Q1-3 2016: EUR -409.5 million).
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