These will be Budapest’s newest offices

Is there any more space? The question may drop to you, as we are tracking the construction of a new office building all over the city. Of course, there are particularly popular neighborhoods such as the Váci Street office corridor from Lehel Square to the Árpád Bridge, but neither the South Buda nor the South Pest nor the other districts of Pest can be left out of the line.

Váci Office Corridor – woods of cranes

From the ashes of the financial crisis, there is a re-emergence seeing the boom in construction, and in particular in office space developments. Most of the developments started here along the Váci Street. This is where the Promenade Gardens, White House, Advance Tower, Agora and Vaci Greens D will be built in the future, so in the next 2 years the office space at Váci Street may be increased by more than 130 thousand square meters. For the longer term, the developments have not stopped, as the new 7-storey headquarters of OTP is planned for the next 3 years, and Agora Park can expand after the first phase with multiple existing builds. Also MNB foundations plan building office buildings on Váci Street, with an additional 150,000 square meters of land enlargement. However, these are only the known planned investments, which add altogether more than 400,000 square meters of office space to the Budapest office market.

South Buda - strong convergence

South Buda has recently become more and more desirable target on the office market. The new headquarters of MOL with its futuristic exterior and the development of more than 80,000 square meters is expected to be built here. Futureal also plans to invest in an office complex with 70,000 square meter office space on Kelenföld. Nevertheless, Budapest ONE is also joining with a new development by 2018. Thus, South Buda will make a significant contribution to the Budapest office market.

Pest office market - significant changes

Perhaps the biggest investment in Pest is currently the Telekom headquarters in the neighborhood of Groupama Arena. An impressive 60 thousand square meters of office building alone contributes significantly to Pest's office market. However, it is not worthwhile to miss the developments in the Corvin Quarter, as the first and second stages of the Corvin 5 office building will be completed in the coming years.