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).
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.
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.
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.
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.
The dynamic success story of NEW WORK reached a higher level as they are entering the thriving Polish market. Our mission is clear: – “Service is our passion, and we provide not only flexible office solutions but outstanding services as well, which are tailored to our tenants’ needs.” – says Mr. Konrad Szaruga, Managing Director at NEW WORK Serviced Offices, Poland. We talked about expansion plans and corporate corners. We involved Mr. Hubert Abt, CEO of Property Systems where NEW WORK Serviced Offices belongs too.
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