Significant Developments in Budapest


With the development of the Stadionok metrostation's neighborhood, there is a potential opportunity for a new city center in the VIII., X. and XIV. districts. The value of developments in this area is close to 450 million EUR without the new stadium. A lot of attention is paid to serving the growing conference tourism.

The Hungexpos area between Keleti Pályaudvar and Örs Vezér tere has always been important, but it has been neglected for far too long. That seems to change now due to development plans. Some say that it can become the most dynamic developing area in the capital.

The Developments of Hungexpo

The neighborhood of Hungexpo will undergo a complete renewal, according to the CEO of Hungexpo Zrt., Gábor Ganczer, adding two new exhibition halls, a reception hall and renovating existing building parts. The investment and the resulting landscaping will increase green space. Negotiations with the BKK are ongoing on the issue of easy and quick access by public transportation.

The goal of Hungexpo is to provide a comfortable and pleasant place for all international congresses coming to Budapest. One pavilion has been designated for this purpose, where a congressional venue with a state-of-the-art technology for a plenary session with up to 2000 people is created with a high-level construction.

"Hungexpo and its surroundings are at an ideal distance from the airport and downtown hotels, which is why the organizers of international congresses, conferences, sports events lovers can find it appealing. The developments around this area are keeping their mutual interests in mind. The developments will not only benefit Hungexpo and its surroundings, but also the inhabitants of the neighborhood with the cultural, tourist or sports real estate developments taking place." - said the CEO.

Enhancing Conference Tourism

Located next to Papp László Sports Arena, Hotel Arena is part of the Danubius Hotels chain, which focuses on business tourism.

"We are very pleased and it is very beneficial for us that our hotel, the Hotel Arena's surroundings are being renewed. Through the development the range of services and quality of the area is growing dramatically. - and this is what our major investments serve - to further strengthen our position in business tourism, and this is no different in the case of the Hotel Arena. The developements of the surroundings of the Stadium, and the possibility that it will become the new city center will increase the number of guests arriving for business purposes." - said Balázs Kovács, CEO of Danubius Hotels Group.

New Business Center

The construction of a hotel and office building on Kerepesi út is expected, said Rudolf Riedl MRICS, managing director of Strabag Real Estate. The K27 Kerepesi Business Center will be located on an area of 2,3 hectares, but instead of 60.000 square meters of office space, it will only be 30.000 square meters, but 200 residential properties are also planned in this area. Work can begin in the middle of the year when they get all the licenses.

Hungária Ring Road

For more information about the office building planned above the Puskás Ferenc Stadion, Ferenc Barta, Zugló's main architect reports:

"As an office market and commercial real estate center has been established as part of a long-term strategy on the Váci Road axis, the Hungária Boulevard can be suitable for the same task. The headquarters of the Groupama Insurance Company was completed at the junction of the Hungária körút and the Erzsébet Királyné road years ago, and OTP Real Estate completed the Hungária Center office building at Tábornok Street. Opening a huge BMW salon a few years ago by Wallis Motor Pest, and hotel development is expected to be in the near future on the plot behind the Budapest Környéki Törvényszék (Budapest District Court). There is not enough room in the district for tourists and athletes in hotels."

The Arena Business Campus, which is under development by Atenor, is an office park consisting of four buildings with a total area of 72.000 square meters. It will be built in the VIII. district. The first office building is expected to be handed over in 2019.

"Above the subway station, the regulatory frameworks would meet a 200-meter-long building complex that could be 30-meter high, which is expected to be nine levels. This is only an option, the implementation depends on the developer, but it is sure that the building cannot be charged on the subway, and since it is possible to build on 100% of the area, the green surfaces should be transported to the top and the facade of the building and the transport of the mass flowing from the subway must also be ensured. For the first level, commercial units, above parking lots are required, then office levels can come,” - the chief architect added.




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