Hungary is preparing for the real estate development exhibition in Cannes with a spectacular stand

The successful presentation of Hungarian development trends and opportunities at the exhibition, which has a history of several decades, is of particular importance year after year from the point of view of the inflow of working capital, the announcement states.

Photo : LIGET BUDAPET/György Palkó

The Hungary-Budapest stand was developed jointly by the National Investment Agency (HIPA) and IFK, the main exhibitors are Liget Budapest project and the National Industrial Park Üzemeltető és Fejlsztő (NIPÜF) Zrt. The professional sponsor is the world’s leading real estate consulting company, CBRE. The dominant real estate developers of the market – ATENOR, GLP, GTC, HelloParks (member of the Futureal group), InfoGroup and Wing – the latest, participate in the international army review with their ongoing environmentally conscious and sustainable developments. Debrecen and Szeged are also introduced.

The government developments and private investments presented at the stand can arouse the interest of new investors and strengthen Hungary’s position in the investment in global competition – it was written.

The announcement quotes Ernő Takács, the president of IFK, the largest organization of Hungarian real estate developers, who explained that last year the real estate investment volume was it dropped to a level below the coronavirus epidemic, but according to CBRE’s forecast, it may exceed EUR 1 billion again this year. The spectacular expansion trend that started after the epidemic was interrupted by the war in Ukraine, the energy crisis, rising inflation worldwide, the strengthening of recession fears and monetary tightening, he pointed out. However, the performance of the individual segments was very different, logistics and the office market performed particularly well, and big changes are expected in the hotel market, so it is no coincidence that the exhibition focuses on these three areas. There is enough free capital, but investors are still waiting. The expected drop in interest rates by the end of the year may bring new spending in the world and boost the market, and the Hungarian market still has significant growth potential – noted the president of the IFK.

  • He pointed out that, despite the increase in construction costs and further problems in the supply chains, the office market performed very well, 300,000 square meters were handed over last year, and demand kept pace with this . The industrial and logistics market is expanding at a rate not seen for years, the increase in supply in Budapest was around 400,000 square meters in 2022, and the demand exceeded 500,000.

    According to the announcement, Benedek Gyorgyevics, for the implementation of the Liget Budapest project responsible Városliget Zrt.’s general manager informed that the project started in 2011 is the continent’s largest-scale, multi-award-winning urban development program with cultural content. Completed among other things:

    • House of Hungarian Music, the Museum of Ethnography,

    • renewed the Museum of Fine Arts,
    • the Star Fortress in Komárom,
    • the Millennium House and the Grove itself.

      In the past two years, almost five million visitors took possession of the renovated and modernized institutions, the newly erected buildings, and the renewed park areas. In the continuation, with the construction of the House of Hungarian Innovation, the City Park Theater and the New National Gallery, Liget Budapest’s program will be fully implemented, emphasized the CEO.

      In the announcement István Joó, CEO of HIPA, reported that the confidence of foreign investors in the towards the Hungarian economy, which is supported by last year’s investment volume of 6.5 billion euros, a record in the history of investment promotion in Hungary. They expect an even stronger year this year.

      István Joó stated: 48 percent of the capital investments came from the East, while 42 percent came from the West, investments launched by Hungarian companies accounted for 10 percent of the volume.

      Béla Köves, the CEO of the National Industrial Park Operator and Developer (NIPÜF) Zrt. explained in the announcement, At the Hungary-Budapest stand, the country will present itself mainly with industrial properties, because there is plenty of potential in the segment. He explained that in 2016, NIPÜF entered the industrial real estate development market as a state-owned company, where it became known under the brand name INPARK. The industrial real estate development company group is present in 17 cities in Hungary, on almost 900 hectares, which means it has the largest development plot portfolio in the Hungarian market.

      The company group’s most dynamic year was 2022, with five locations and almost 80,000 square meters of hall which were built for Airbus Helicopters and Honeywell, among others. Among the many industrial properties handed over in previous years, Robert Bosch’s largest regional distribution center operates in INPARK’s hall in Hatvan, according to the announcement.

      MIPIM is the world’s largest real estate development exhibition, attended by 2,400 exhibitors from more than 80 countries. More than 20,000 professional visitors are expected at this year’s event.


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