News, interviews and testimonials from the office market
Fornax ICT, a recognized company operating on a high professional level in both the domestic and international IT-sector, is the new tenant of CPI Hungary’s M3 Business Center. Fornax ICT signed the leasing agreement pertaining to the spacious up-to-date offices found in Building B of the Center on Hungária Boulevard, with the assistance of Cushman & Wakefield international real estate adviser.
The Hungarian investment market was perceived to be improving over the last 12 months, but Colliers International has only recently been able to report that available opportunities have converted into significant deals.
Skanska Property Hungary has sold its internationally awarded Green House office project. The new owner of the green office building is the Hungarian open-ended property fund Torony Real Estate Investment Fund managed by Diófa Fund Management, a member of FHB Group.
European commercial real estate investment activity totalled €44 billion in Q2 2014, reflecting a 28% rise year-on-year, and an increase of 10% on Q1 2014. Strong first half year results pushed commercial real estate investment volumes in Central & Eastern Europe (CEE) (excluding Russia) to €2.5bn, an increase of 15% on the same period for 2013, according to the latest research from global property advisor, CBRE.
The annual CEE Investment & Green Building Awards Gala and Investment Summit, being held on October 30th in Warsaw at the prestigious Intercontinental Hotel, is recognized as one of the most important and valuable real estate events in Central and Eastern Europe.
Bence Balázs, MRICS responsible for Asset Management at GLL Real Estate Partners means that exciting products could always shop up at Budapest market, but there is no time to relax: not only other cities in the region are our competitors, as almost the entire world is competing for investors' money.
The Budapest Research Forum (BRF, which is comprised of: CBRE, Colliers International, Cushman & Wakefield, DTZ, Eston International, JLL and Robertson Hungary) hereby reports its Q2 2014 office market analysis.
CPI Hungary, former Ablon, owned by CPI Group has successfully concluded the largest office lease transaction of the year to date with Vodafone for over 13,800 sq m in Arena Corner Office Building, in Budapest. Vodafone was represented by Cushman & Wakefield, the world’s largest privately held commercial real estate services firm.
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