S IMMO continues to invest in CEE
- Purchases in Budapest (HU) and Bucharest (RO)
- Roughly 30,000 m² of office space planned in Budapest
- Boutique offices with total area of roughly 5,000 m² envisaged in Bucharest
S IMMO AG is kicking off 2019 with purchases in the CEE region and thereby expands its portfolio by up to 35,000 m² of gross floor area. The acquired property in Budapest is directly located on Váci út, one of the main hubs for office space in the Hungarian metropolis, very close to the metro. A modern and sustainable office building with a total area of roughly 30,000 m² will be built there starting in the spring of 2021.
At the same time, S IMMO closed on the purchase of a property in Bucharest’s city centre. S IMMO is planning to develop modern boutique offices with a total area of around 5,000 m² for the smaller, very centrally located property on Calea Dorobanti. Construction on this project is also scheduled to start in 2021.
Friedrich Wachernig, member of S IMMO AG´s Management Board, commented: "With these purchases, we are continuing to invest in the office market in the CEE region, which has been very strong for quite some time now. Our most recent office projects – the Einsteinova Business Center in Bratislava and The Mark in Bucharest – have been successfully let out. We are assessing further investment opportunities in Budapest and Bucharest, but also in Bratislava and Zagreb, on an ongoing basis."