Strategic partnership: WING Group as the majority shareholder and Griffin Capital Partners acquire shares in Berlin-based BAUWERT AG
The Berlin-based property developer firm BAUWERT AG is entering a strategic partnership with the Hungarian WING Group, as well as the international investment & asset manager Griffin Capital Partners. For this purpose, the three companies signed an agreement under which WING and Griffin will together acquire 60% of BAUWERT’s shares. The remaining 40% will be kept in ownership of the existing shareholders. WING Group will have a controlling interest in the company.
WING Won Quality Award in the B2B Category of the Website of the Year Competition
In 2022, the Hungarian Marketing Association and the Internet Marketing Section announced its digital competition for the 21st time, during which the professional jury awarded the latest websites and the best digital solutions. This year, 217 websites competed for the prizes and WING's website won the Quality Award in the B2B category.
The development of the East Gate PRO Business Park project continues — the construction of the latest hall is underway
Construction has started on the second phase of the East Gate PRO Business Park, WING’s latest industrial development project. The newest building in the industrial park in north Pest, following the completion of the first phase in October 2022, will have a total leasable area of 9100 square metres and is scheduled for completion in summer 2023.
Over 1,200 apartments sold, nine residential developments, community services and energy-efficient homes: the first five years of LIVING
LIVING, WING’s umbrella brand that specialises in residential developments, is celebrating its fifth anniversary this year. LIVING provides energy- and cost-efficient, smart and sustainable solutions while focusing on building relationships in the communities in which it works. Since 2017, it has started the development of almost 2,000 apartments in nine residential projects, more than 1,200 of which have been sold already, with four projects and over 800 apartments having been completed. LIVING also has several other developments in the pipeline.
Liberty to Welcome New International Tenant
GEODIS, a leading global logistics provider, has signed a long-term lease agreement for the 1,200 square-metre office space of the multifunctional Liberty complex, one of WING’s flagship property development projects. The company will move into its new country headquarters in the southern wing of the building in April 2023.
WING has won in MagyarBrands’ Excellent Business Brands category once again in 2022
The MagyarBrands program was launched over 10 years ago with the aim of recognising excellent brands created in Hungary or established by Hungarians. An expert committee selects the most trustworthy and successful Hungarian brands. WING is an Excellent Business Brand again this year.
WING has handed over two new industrial halls: Phase 1 of the East Gate Pro Business Park has been completed
WING, a key player on the Hungarian industrial real estate market, has completed its latest development, the first two halls at East Gate PRO Business Park. The new, high-tech buildings offer hall spaces suitable for production, assembly, fulfillment and warehousing, and are available with high-quality office and service functions on demand.
WING has published its first ESG report
This year WING published its first ESG report, providing information to colleagues, partners and customers about its environmental, social and governance efforts, as well as goals, measures and results in 2021. ESG reports ensure that companies communicate about sustainability and social responsibility in a transparent way. Sustainability has long been at the heart of WING’s business strategy and operations.
CRE Awards: WING ranked 1st in three categories
EuropaProperty organised the 4th CRE Awards to recognise the best buildings, companies, property deals and industry professionals on the market in Hungary, the Czech Republic, Slovakia and the Balkans. WING received 1st prize in the Retail Developer and Office Developer categories, and the GOBUDA Mall project was ranked 1st in the Refurbishment/Extension Project category.
Máriássy House office complex has been traded
WING has sold its iconic headquarters office complex, Máriássy House, which has been in the company’s ownership since 2003. The complex, including a renovated historical marketplace used as loft office, the “Borjúvásárcsarnok” (Calf Market Hall), and a modern office building constructed in 2005, was acquired by GRAWE Group.
Building on Art program launched
Major players in the property market have come together to launch the Building on Art program and voluntary cooperation platform. The aim of the program is to integrate art into property projects in Hungary. WING is one of Hungary’s leading property developers and investors with a significant presence in the regional property market. It is also a founding member of the program and is committed to long-term value creation, architecturally, economically and socially. WING has already integrated contemporary art into several projects to provide inspiration to those living and working in the properties it has developed. And by joining this program, it is now making another contribution to the development of our cultural heritage.
LIVING expands collaboration with car-sharing service SHARE NOW
Residential property developer LIVING, WING’s umbrella brand specialising in residential development, and car-sharing service SHARE NOW are continuing their collaboration. Residents of LIVING’s recently delivered residential development, the 263-unit Kassák Passage residential park, can choose from unique discounts and enjoy access to unlimited mobility, in premium car-share vehicles.
Kassák Passage, the second phase of LIVING’s Kassák Project, has been handed over
The Kassák Project, developed by LIVING, WING’s umbrella brand that specialises in residential development, has now reached another milestone. The second phase of the project, Kassák Passage, has received its final use permit and the 263-unit project has been delivered. Prospective residents can enjoy energy-efficient and cost-effective apartments, environmentally friendly solutions and LIVING Services in the residential development located near the office corridor in Váci Street.
WING has completed its latest industrial property development project, Hall ‘I’ at Airport City Business Park
WING, one of the largest players on the industrial property market in Hungary, has completed the latest hall at Airport City Business Park, located at Liszt Ferenc Airport. Airport City’s Hall ‘I’ provides flexible solutions and market-leading technological innovations on a total leasable area of 6,000 square metres. It already has a 100% occupancy rate.
New stores are opening at the GOBUDA Mall shopping centre
GOBUDA Mall shopping centre, located in northern Buda and renovated as part of a WING development project, opened to the public this spring. New stores have opening ever since and major fashion and beauty brands will be coming to the shopping centre this autumn.
Park West 3, the third phase of LIVING’s highly successful Park West project has been launched
Park West residential development project, announced by LIVING at the end of 2020, has now reached its third phase: the construction of Park West 3 will start in the second quarter of 2022. The residential park offers sunny, energy-efficient apartments, where the unique comfort-enhancing LIVING Service will be available to the residential community. Park West 3, which comprises 230 apartments in the renewed Ferdinánd quarter of the 13th District, is scheduled for delivery in the first quarter of 2025.
Family Center shopping mall in Szombathely gets new owners
WING has sold the Family Center shopping mall to the Unione Investment Group. With 28 shops and a seasonal assortment of sales booths, Family Center Szombathely was acquired by WING in early 2018. Now, as WING is selling the mall to the Unione Investment Group, the shopping centre boasts an occupancy rate of nearly 100 percent.
WING supports launch of program for development of disadvantaged children
Once again, this year, WING is providing a donation of a total of 7 million HUF to support the work of the SOS Children’s Villages. In addition to a donation of 5 million HUF to be used for the organisation’s general operations, the company is providing a further 2 million HUF for the implementation of the Recode Your Life program. The initiative supports the integration and development of 100 disadvantaged and underperforming Hungarian and Ukrainian children.
Building structure completed at Liberty, WING’s mixed-use development integrating office and hotel functions
The structure of the Liberty office building has been completed on schedule, bringing the project one step closer to completion in 2023. Located on Könyves Kálmán körút in District 9, the multifunctional building offers tenants and visitors ecological solutions and various amenities, and will host a dual-branded ibis-Tribe hotel after its completion.
WING acquires historic downtown buildings
WING, one of the leading property developers and investors of the Hungarian real-estate market and a significant player on the regional scene, has acquired two historic buildings in the CBD of Budapest, both with a potential for growth in value.
New appointments at WING
Three new Deputy CEOs have been appointed at WING: In addition to his position as Director of Residential Developments, János Martin has been promoted to Deputy CEO of WING, Director of Marketing Communications Csenge Mátray has fulfilled the role of Deputy CEO for Communications, HR and Corporate Operations, while Director of Transactions Bence Sass has been appointed Deputy CEO for International Business Development and Investments.
Honvéd Center receives BREEAM In-USE Very Good certification
Both buildings of Honvéd Center have received BREEAM In-Use Very Good sustainability certification after being renovated in a WING project. The office buildings in downtown Budapest earned their certification with their energy and water efficient management and with features that contribute to the well-being and health of the occupants.
GOBUDA Mall to open
EuroCenter in Óbuda was reborn under the name GOBUDA Mall, developed by WING. Completed at a record speed, this modern and human-scale plaza in North Buda was renovated to completely suit the needs of the locals, and will gradually open for its visitors, continuously expanding its services in alignment with the opening of each shop from 24 March on.
WING buys Airport City Logistics Park
WING has bought Airport City Logistics Park located in the neighbourhood of Budapest Liszt Ferenc International Airport and including about 44,000 square metres of modern warehouse buildings and eight thousand square metres of office area. Through the transaction concluded with CPI group, one of Hungary’s largest property development companies further strengthens its position with a high quality industrial park in the Budapest industrial and logistics market. The transaction was carried out at a record low, 5.6% yield.
LIVING completes the first phase of Park West residential development
LIVING, an umbrella brand of WING specialising in residential properties, has completed the first phase of its Park West project offering 229 apartments in the Ferdinánd quarter of the 13th District. About 700 apartments will be constructed in the residential development project to be carried out in three phases. The residential park offers sunny, energy-efficient homes with terraces in the heart of the vibrant 13th District, and, in line with LIVING’s standards, community services and smart home functions will also be available to residents.
Kassák Terrace, the final phase of LIVING’s Kassák project, kicks off
LIVING is launching the third, and final, phase of the Kassák project: Kassák Terrace. Located at the intersection of Klapka utca and Kassák Lajos utca in District 13, the residential project offers future home owners community services and smart solutions, true to the quality standards set by LIVING. Kassák Terrace is scheduled for completion in the first half of 2025.
GOBUDA Mall to open next spring
Following its renovation implemented by WING, EuroCenter shopping mall will welcome shoppers from Spring 2022 under the name GOBUDA Mall. The main aim of GOBUDA Mall is to become the number one meeting point of those living in the area, where visitors can feel at home and have a unique shopping experience.
East Gate Business Park’s latest hall development reaches 100% occupancy
The 9000+ sq m Hall D3 in East Gate Business Park has reached 100% occupancy. This speculative investment project caters to the tenants’ currently unmet production, manufacturing and complex, special warehousing needs.
Kassák Passage building structure completed
Kassák Passage, the second phase of LIVING’s Kassák project, has reached its highest point. The project features 262 units and is located close to the Váci út office corridor, while also benefitting from quiet surroundings. With a premium location and a range of unique services and amenities, it offers homes with long-term value that also make for an ideal property investment. In line with LIVING’s standards, Kassák Passage will boast community services and smart home functions. It is expected to be completed in the second half of 2022.