Hungarian capital fuels Bucharest's real estate boom

 

The real estate market in Bucharest is currently experiencing a significant surge driven by substantial investments from Hungarian companies.

 

This expansion is largely attributed to a surplus of capital within Hungary and the perceived limitations of its domestic market, making Romania, particularly Bucharest, an attractive destination for high-caliber investors.

 

This influx of foreign capital is not just increasing the number of available properties but also elevating the standard of commercial spaces, creating a dynamic environment for businesses seeking modern office and commercial premises.

 

Optima Investment and GTC: a powerhouse partnership

 

Among the most notable new entrants is Optima Investment, a fund directly controlled by foundations established by the National Bank of Hungary.

 

Optima Investment has made a significant mark on the Bucharest real estate scene, most notably by acquiring a majority stake in Globe Trade Centre (GTC) in 2020. GTC is recognized as a pioneer in developing modern office buildings in Bucharest, holding a robust portfolio spanning a total office area of 62,500 square meters.

 

Spotlight on City Gate and Spatio projects

 

GTC's most valuable asset in Romania is the iconic City Gate complex, strategically located opposite Romexpo. This prestigious property is valued at an impressive 123 million euros, boasts a strong occupancy rate of 78%, and commands a competitive rental rate of 19.4 euros per square meter monthly.

 

Beyond their existing portfolio, Optima Investment is also in advanced negotiations for the sale of the "Spatio" project. This ambitious development includes two apartment blocks alongside a substantial office building with a total office area of 17,000 square meters, further indicating the scale of investment and the availability of new, high-quality spaces.

 

Other key hungarian investors shaping Bucharest's skyline

 

The Hungarian presence in Bucharest's real estate market extends beyond Optima Investment and GTC. Several other prominent Hungarian funds are actively contributing to the city's commercial landscape:

 

Adventum: This fund notably acquired the extensive Hermes Business Campus in Pipera, a significant transaction valued at over 150 million euros.

Indotek: Expanding its footprint, Indotek currently owns two key office buildings within Bucharest.

Gránit Asset Management: Demonstrating confidence in the market, this group purchased the Equilibrium 1 office building in Bucharest for approximately 50 million euros.

Kesz Group and Cordia: These reputable entities are also active participants, showcasing a diversified Hungarian interest in various segments of the local real estate sector.

 

Prime opportunities for businesses in Bucharest

 

The consistent and substantial investment from Hungarian capital signals strong confidence in Bucharest's economic stability and growth potential. For businesses looking to establish or expand their presence, this influx translates into a wider selection of modern, well-located, and professionally managed office spaces. From landmark buildings like City Gate to upcoming developments, Bucharest offers compelling opportunities for companies seeking premium commercial real estate solutions.

 

Source: puterea.ro