CRE International Real Estate Awards: WING ranked 1st in four categories
EuropaProperty organized the 5th CRE Real Estate Awards to recognize the best buildings, companies, property deals and industry professionals on the market in Hungary, the Czech Republic, Slovakia and the Balkans. This year WING has won the Investor category, the Office Developer category and the Residential Developer category with LIVING, WING’s residential development umbrella brand. The Project of the Year award was given to LIVING’s Kassák Passage residential development in the Residential Project category.
EuropaProperty organized the CRE Real Estate Awards for the 5th time. The winners of the 26 categories were announced at a gala dinner at the InterContinental Hotel in Budapest. This international event celebrates the best buildings, companies, property deals and industry professionals: companies and individuals with the best overall performance over the previous year receive awards.
WING Group, a key real estate developer and investor in the Central European real estate market, was ranked 1st this year in the Investor and the Office Developer subcategories of the Company of the Year category.
The Investor award is a recognition of WING’s acquisition of a majority stake in Bauwert AG, the leading German residential and retail property developer. The transaction, in which WING and Griffin Capital Partners bought 60% of the German company’s shares (90% of which is owned by WING), was concluded in the spring of 2023. WING is now a leading operator on the property development market in three countries. Access to the German property market and the 2019 acquisition of a majority stake in Echo Investment, a company listed on the Warsaw Stock Exchange, improved the diversification of WING’s portfolio and contributed to its increasingly stable growth prospects. WING has also recently sold two Hungarian projects, the Family Center in Szombathely to the Unione Investment Group and the Máriássy Building to the GRAWE Group.
The Office Developer award is an acknowledgement of WING’s recent and current activities. Developments currently underway are Liberty, the mixed-use (office and hotel) project, the Liget Center Classic and Auditorium (the new RTL headquarters) and the Liget Center Vitrum and also the HOP Passage office building in the HOP Technology Office Park.
In mid-2023, Liberty, the office space of the first phase of WING’s mixed-use project, received its final use permit, and the first tenants, eMAG and GEODIS, have already moved in. In addition to international tenants, the building also welcomed the Focivilág–Absolute Teamsport store, a 360-square-meter retail store that is the only one of its kind in Hungary. With the completion of the wing, an underground parking garage with 650 parking places also became available. eMAG Easybox and Foxpost parcel lockers are available in the building, and those working here can use the quality restaurants and café in the Telekom building next door. Another great achievement of 2023 is that another leading tech company has chosen WING’s HOP Technology Office Park. Lightware Zrt. will be the first to move its production base to the park, in two phases in the autumn of 2023. WING will fully renovate a 7000-square-meter space to meet the technological standards of the 21st century and all special needs of the tenant.
LIVING, the Group’s umbrella brand for residential property development, also won an award in the Residential Developer subcategory. The number of LIVING apartments delivered since the company’s establishment in 2017, including those currently under development is close to 1500, with more than 1300 apartments already sold. Its completed projects include Kassák Residence in District 13, Metropolitan Garden, Park West 1-2 and Kassák Passage, while the ones underway are residential parks Park West 3, Kassák Terrace and Le Jardin. All residential developments are located in areas offering excellent transport options and a multitude of services, and all have above-average technical standards and sustainable, green solutions.
In the Project of the Year category, LIVING, WING’s umbrella brand for residential property development, was awarded 1st prize for the Kassák Passage development as the best Residential Project. The second phase of the Kassák project, which has a total of 740 apartments and its own park with an area over 9000 square meters, was completed in the second half of 2022. The residential building has an AA energy efficiency rating and the 263 apartments have efficient floor plans and sustainable solutions which are both energy and cost-efficient. Kassák Passage, located in the 13th District between Klapka utca and Apály utca, is a few minutes’ walk from Váci út and has excellent infrastructure. In line with LIVING standards, community services and smart home solutions are available to the residents in the building.
New Tenants to Move into WING’s Liberty Building this Summer
Four new tenants will be moving into Liberty, WING’s mixed-use development, in summer 2024. Coop, FedEx, Praktiker and 3 Print have concluded lease agreements for a total of more than 3,500 square meters of office space. The new tenants will have access to a number of services in the complex, in which the occupancy rate of retail areas is now 100%.
LIVING delivers its 1000th apartment
With the completion of its 1,000th apartment, LIVING, WING’s umbrella brand for residential developments, has reached a major milestone. The residential developer currently has three ongoing projects in Budapest’s 13th District, and the total number of LIVING apartments delivered since the company was established and that are currently under development is close to 2,000. LIVING focuses on smart and sustainable solutions, energy and cost-efficiency, and the individual needs of its clients. It uses this approach in all of its developments.
Another tenant chooses WING’s East Gate Pro Business Park
WING Industrial has concluded a major agreement with a leading regional parcel logistics operator at East Gate Pro Business Park. The business park, the latest phase of the popular East Gate project, is located at the junction of the M3 and M0 motorways. The third hall of East Gate PRO Park was completed last year, and now there is a long-term pre-lease agreement for the fourth hall, B2. The 9,000-square-meter building, a build-to-suit (BTS) development with a pre-lease agreement, is to be completed by the end of 2024.