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NEPI Rockcastle Strides into Q1 2023 as Net Operating Income up 27% to €120 mln, Robust Growth in Sales, Footfall and Spend

5/17/23

NEPI Rockcastle (NRP.AS) (JSE.NRP), Europe’s third largest listed owner, developer and manager of retail properties by portfolio market value at €6.6 billion, and the largest in Central and Europe, generated a 27% rise in net operating income (NOI) in the first quarter (Q1) of 2023 versus Q1 2022, to €120 million. The sharp uptick in performance extends the trend that was accelerating through 2022 and was driven by higher base rents, tight management of operating costs and an €8.8 million contribution from the three acquisitions - Forum Gdansk Shopping Center, Copernicus Shopping Centre, 50% of Ploiesti Shopping City - made by the Group in the second half (H2) of 2022. The increase in NOI was 17% on a like-for-like (LFL) basis.

Rejuvenated Park Atrium Welcomes DDB

5/17/23

A major player in the creative industry worldwide, advertising agency DDB signed a lease contract with DEREIF Hungary to occupy 868 sqm of top-quality office space on the 4th floor of Park Atrium office building from September 2023

Any real estate management company who has not noticed the changing tenancy patterns is now in big trouble

5/12/23

CPI Hungary has further increased its competitive advantage in the Hungarian real estate management market through an acquisition. The company relies on offering its tenants unique, flexible office solutions and wellbeing services compared to its competitors. The majority of time spent in office buildings can be meaningful, colourful and full of life. We had a chat with the Bea Déri (Director of PR, Marketing and Design of the market leader company, pictured right), and Zita Kovács-Bertók (Office Business Development Director).

IBM Hungary occupies its brand-new offices in Corvin Innovation Campus

5/3/23

The first phase of Futureal’s Corvin Innovation Campus has already obtained the occupancy permit. The complex, built in the extension of Corvin Promenade, is one of the most energy-efficient office buildings in Hungary and it is also a home to IBM Hungary's new head office

The Budapest Research Forum hereby reports its Q1 2023 office market summary.

4/21/23

The Budapest Research Forum (hereinafter the ‘BRF’, which comprises CBRE, Colliers, Cushman & Wakefield, ESTON International, JLL and Robertson Hungary) hereby reports its Q1 2023 office market summary.

IWG opens new regus office building in Szeged, as demand for hybrid working rises

4/20/23

IWG, the world’s largest provider of hybrid working solutions with brands including Spaces and Regus, is opening a state-of-the-art flexible workspace in Szeged as the demand for hybrid working rapidly accelerates. This opening is being delivered in partnership with Cédrus Liget, who chose the IWG flexible workspace platform and has entered into a management agreement with the Regus brand.

The art of sustainable performance

4/17/23

Mr. Hubert Abt, founder and CEO of New Work and workcloud24 says that if we want to continue to live on this planet, ESG is inevitable for all companies. We also talked about the risks in the real estate market, the differences between ESG and CSR and how to fit 7,000 people in a building planned for 4,500 people. Tight questions and even tighter answers.

As part of its UK urban regeneration project, Cordia has completed the renovation of the listed building that houses its local HQ

3/28/23

Hungary's leading residential developer has reached another milestone in the UK with the practical completion of heritage commercial building refurbishment The Bank, located in Birmingham’s Jewellery Quarter.

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