Property Awards: WING ranked 1st in 2 categories
Property Investment Forum brought us Property Awards again this year, celebrating the most significant achievements of the past 12 months. WING won the Real Estate Investment Transaction of the Year – Abroad category with the acquisition of the majority of Bauwert AG’s shares, and the Office Rental Transaction of the Year category with its agreement with Lightware on the lease of a building in HOP Technology Office Park.
Property Investment Forum, a major event organised by Portfolio, brings together property market operators to discuss and report on the most significant events, developments and achievements of the past year. A part of the program is the Property Awards ceremony, where property market achievements are awarded in 15 categories. This year’s winners were presented with their awards at a gala event on 5 December.
WING won the Real Estate Investment Transaction of the Year – “Abroad” category, with the acquisition of a majority stake in the German company Bauwert, and the Office Rental Transaction of the Year category with the agreement concluded with Lightware, which will be leasing its new headquarters in HOP Technology Office Park.
In the “Real Estate Investment Transaction of the Year – Abroad” category, WING won with the acquisition of a majority stake in Bauwert. WING concluded an agreement in late 2022 to acquire the majority of the German company’s shares. Bauwert is a Berlin-based, major property developer with a residential and commercial property portfolio. The transaction was completed in spring 2023, with WING acquiring a majority stake in the leading German property developer. For WING, the transaction was another step towards becoming the leading property development group in the Central European property market, as it is now a major operator in three countries. Besides building its presence on the German market, WING is also Hungary’s leading property developer and investor and the majority owner of Poland’s largest property developer, ECHO Investment, which is listed on the Warsaw Stock Exchange.
The lease agreement between WING and Lightware was recognised with the “Office Rental Transaction of the Year” award: Lightware is bringing its headquarters to HOP Technology Office Park for a total of 7,000 square metres. HOP Technology Office Park is a unique office park which fulfils the needs of those working there and meets the technical requirements of tech companies today, regarding leased properties. Lightware is an audiovisual technology company that has grown with more than 25 years from a small Hungarian company to a global industry leader with 18 partner offices on 4 continents and 400+ employees in over 30 countries worldwide. During the lease negotiations, WING was represented by an agency, Eston International, which monitored the client’s needs for 8 years, assessing its evolving needs and the offerings on the market. What makes this transaction truly special is that it sets an example by providing a unique answer to the biggest question of the modern property market: ‘To build or to renovate?’ With the reconstruction, building no. 7 of HOP aims to implement carbon neutral operation with a focus on ESG principles, while providing a leading tech company with a multi-functional, modern space that meets complex needs.
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.