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New Telekom Headquarters building structurally complete

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.

A Destination, Not Just a Workplace

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 strengthens balance sheet and posts significant improvement in net profit for the first three quarters of 2017

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).

South Buda Is the Next Favourite Location for Companies and Office Developers

The public transport developments of the recent years, the proximity of major universities and the vibrant residential developments make South Buda attractive for companies. Recognizing the situation, more and more developers are building new office buildings in the area. Bischoff & Compagnons has also scheduled the delivery of the Alphagon Office Building by mid-2019.

CBRE Awarded Best Retail and Capital Markets Team in Hungary by CIJ

The Construction and Investment Journal (CIJ), one of CEE’s leading real estate magazines has awarded the best property market companies and projects in Hungary. In 2017 the winner of the Best Retail Power Broker Team and Best Capital Markets Team category were CBRE’s retail and capital markets agency teams.

Contemporary dance on the façade: a new perspective for the Kalvin Square office building

The Kalvin Square office building hosted an unique art event in late October, with its façade turned into an extraordinary, vertical stage by dancers performing in the air, hanging from ropes, under the auspices of the 26th Café Budapest Festival of Contemporary Art.

ESTON provides long term leasing solution for Nielsen

As the result of the successful cooperation between ESTON International and AC Nielsen Piackutato Kft. a long term lease agreement was signed in September at the Vaci Utca Center office building.

From transformer building into high category downtown Art Deco office building

One of the most unique Category “A” office buildings in downtown Budapest is to be delivered this year at Markó street 9: it used to be an electrical transformer building but has now been given a new identity. The attraction of the Art Deco building, which is under protection as a historical monument, derives from its busy inner city location, historical character and special interior design elements.