Mom Park and WEBC transaction
A fund managed by Morgan Stanley Real Estate Investing, in a consortium with Hungarian developer and investor Wing and Austrian shopping center specialist CC Real, has acquired a portfolio of prime retail and offices assets located in Budapest, Hungary from a fund managed by AEW Europe.
GE expands in East Gate Business Park in Hungary
WING’s East Gate Business Park in Fót in Hungary is home to GE’s Oil and Gas Division, which is being expanded with a strategically important manufacturing facility. East Gate Business Park is investing several billion forints in the development. The new hall, which has an area of approximately 11 000 square metres, will house the production of control units for gas and gas-turbine power plants. Besides the manufacturing areas, the building will also contain offices and warehouse space. Following the expansion GE’s operations will occupy an area of some 17 500 square metres in East Gate Business Park.
MTV headquarters and production centre named “Best Public Building in Europe”
Having already won the “Best Public Building in Hungary” award the headquarters and production facility of the Hungarian Media Support and Asset Management Fund (MTVA), developed by Hungarian firm WING Zrt, was granted the prestigious title of “Best Public Building in Europe” by an international judging panel on 24 September. Now that it has come first among Europe’s best in the European Property Awards 2012 competition, the MTVA headquarters and production facility will also be nominated for the title of “Best Public Building in the World”.
Development of the East Gate Business Park continues with a HUF 500 million EU grant
The East Gate business Park, situated at the intersection of the M3 motorway and the M0 orbital road, is the largest business park in the northern catchment area of Budapest, spread out over an area of 37 hectares. It contains modern halls that are equally suitable for warehouse or commercial use, as well as category “A” office units.