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Articles - irodapiac

S IMMO: further potential in local market

4/24/17

Ms. Katalin Sermer, CEO of S IMMO Hungary Kft is quite optimistic for the future regarding Budapest office market. The company is ready for an upward period, expected developments of the last years resulted; the average occupancy rate is above 90% – she says.

The Budapest Research Forum hereby reports its Q1 2017 office market summary.

4/19/17

The Budapest Research Forum (hereinafter the ‘BRF’, which comprises CBRE, Colliers International, Cushman & Wakefield, Eston International, JLL and Robertson Hungary) hereby reports its Q1 2017 office market summary.

96 per cent Occupancy in Kálvin Square Office Building

4/7/17

With 18 tenants, the Kálvin Square office building of ConvergenCE has 96% occupancy. Among its tenants, there are companies like Philip Morris Hungary, Faludi Wolf Theiss Lawyers, Aegon Hungary and GEOX. Currently, there is only one, 136 sq metre, office space available.

OTIS, the World’s Largest Elevator Company Moves to CityZen Offices

3/31/17

Otis Felvonó Kft., the Hungarian branch of the world’s largest elevator company, moves to CityZen Offices from the beginning of April. Hungarian market-leader OTIS, known also as a producer of escalators and moving walkways, opens its new, 870 m2 headquarters at the A+ office building completed by developer ConvergenCE at the end of 2016.

The occupancy rate at Váci Greens’ Building B climbed to 90%

3/30/17

An international service provider will rent a 5200 square meters large office space in building “B” at the Váci Greens office park. With the arrival of the new tenant in July, the occupancy rate of the building will be around 90%. The new large tenant of Váci Greens will move to the Váci office corridor from the city centre.

Rising Construction Costs and Lack of Skilled Labour Force Make Recovery Difficult

3/30/17

The current forecast for total construction volumes shows increases of 8% and 12% for 2017 and 2018, respectively. The barriers for the realization of the developments are the rise of construction costs and the lack of skilled labour force. CBRE expects that these issues raise risks of delivery delays and decrease of developers’ profit margins.

GALCAP EUROPE acquires prestigious building in the center of Budapest

3/13/17

Vienna-based investment manager GalCap Europe has acquired "Merkur Palota" (the Merkur Palace) a fully renovated, prestigious office building in Budapest.

Blue Cube welcomes pharmaceutical system house, Novodata

3/9/17

Blue Cube offices on the Váci út corridor welcomes Novodata, a pharmaceutical software developer company, leasing over 950 sqm office space. Colliers International represented the landlord S IMMO, while Tower Ingatlan represented Novodata / LX Line within the transaction.

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