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HB Reavis to embark on large-scale property development project in Budapest

HB Reavis, the leading commercial property developer in Central and Eastern Europe which has a growing portfolio of developments in London, announces the acquisition of plots covering a total area of three hectares located in one of Budapest’s busiest areas, to serve as the location of a large-scale office development project which the company intends to launch in the near future. The acquisition paves the way for a major office development which will amount to a gross leasable area exceeding 120,000 sq m.

Acquired from multiple owners in June, the sites are located in the 13th district of Budapest, an area framed by Váci Road, Róbert Károly Boulevard and Árboc Street. Located
in one of the city’s most frequented settings, the sites are accessible by multiple means of public transport and provide an excellent opportunity for office development.

HB Reavis is an international real estate developer founded in 1993 in Bratislava, Slovakia. It operates in the key markets of Central and Eastern Europe (Poland, Czech Republic, Slovakia, Hungary), the United Kingdom and in Turkey. The operations have so far yielded a total of 750,000 sq m of modern offices, shopping and entertainment spaces in addition to logistics facilities, and a further 1 million sq m of developments are in the planning, permit or construction stages.

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