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A limited number of office development projects are expected to be undertaken in the immediate future. Developers are exercising caution given an uncertain geopolitical and economic market environment that impacts development costs, debt financing, leasing and take-up, maintenance and property management fees, as well as the possibility of an exit strategy.
One of the significant challenges for office developers in Budapest is to source suitably-sized development plots with direct public and private transport links that provide visibility. All this at a time when competition for such space in a relatively compact city is becoming more intense and consequently more expensive.
A major player in the creative industry worldwide, advertising agency DDB signed a lease contract with Dereif Hungary to occupy 868 sqm of top-quality office space on the fourth floor of Park Atrium office building from September 2023, according to a press release sent to the Budapest Business Journal.
Colliers announced today that Kata Mazsaroff has been appointed as the new Managing Director for Colliers in Hungary....
The Wausau Water Works Commission is set to hear a presentation on funding strategies for a granular activated...