This has been a restrained year for development activity in the office and retail fields. That in the industrial and hotel sectors, however, has been more dynamic. Investment activity has reflected the cautious wait-and-see strategy being adopted by investors towards the Hungarian property markets and, indeed, CEE and Europe as a whole.
The international freight and logistics service provider Transdanubia has signed a 24,000 sqm lease in the PT3 hall of HelloParks Páty. The new tenant is expected to take over the building by the end of 2024. The space will include classic high-rack storage elements, block storage and office functions.
The 12,500 sqm Academia office center redevelopment on the Pest embankment of the Danube in central District V has officially opened. Europa Capital purchased the 12,500 sqm building, then called Akadémia, in partnership with ConvergenCE as asset manager, inJanuary 2022.