With 18,277 sq. m office area which was added to the modern Budapest office stock in Q1 2018 the whole supply currently consists of 2,781,657 sq. m grade ‘A’ and ‘B’ speculative office area and 664,451 sq. m owner-occupied office area. Large number of the first-generation office buildings are renovated, several projects are also scheduled for refurbishment. New developments and refurbishments lead to a greater demand for Property Management services.
BNP Paribas Real Estate Hungary received over GLA 160,000 sqm new Property Management and Corporate Management & Accounting mandates in Hungary during the first half of 2018.
With the new instructions, BNP Paribas Real Estate now manages over 340,000 sqm GLA in Hungary comprising in total 26 office, retail and logistic properties. Most of the assets are A class office buildings (58%) located in Budapest and the retail (25%) and logistic (17%) properties are situated on the outskirts of the capital and at secondary cities in Hungary.
Among the new mandates are 6 prestigious office assets located in central Budapest and on the Vaci corridor, furthermore a unique office project under development in Pest and finally retail and logistic assets comprising of four additional properties around Hungary.
We are honored that both new and existing Clients choose us to be their business partner. I am very proud of our team for providing such an excellent, high quality standard services expected by our Clients that made this great achievement possible. Winning these assignments is a valuable feedback for us and also an indication for the rapidly growing need for quality PM providers in the local market.
– commented Henrik Favari, CEO of BNP Paribas Real Estate Hungary.