S IMMO AG: Successful leasing activities in Budapest
Twin Center fully let
With a large transaction on the Budapest office market, stock exchange listed S IMMO AG has confirmed the increasingly positive trend in Central and Eastern Europe. The office property “Twin Center” was fully leased to the Hungarian Office of Immigration and Nationality, which now has more than 6,000 m² of office space and 1,000 m² of storage space at its disposal.
S IMMO AG’s other office properties in Budapest have also achieved good interim results: for instance, in 2014, more than 7,000 m² of existing lease contracts have been extended for the portfolio as a whole and new tenants have been found for a total of more than 9,000 m².
Friedrich Wachernig, Member of S IMMO AG’s Management Board, comments: ‟Budapest has been a particularly challenging market in the previous quarters. Nevertheless, there have been more and more positive signs recently. Thus, we are very pleased that we are also profiting from the fledgling recovery in Hungary with this record-setting lease.”