VOL. 32. NUMBER 10 | MAY 17 – MAY 30, 2024
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SPECIAL REPORT INSIDE THIS ISSUE
Real Estate: Offices
Office Demand Seeing Fundamental Changes As demand has fallen in the Budapest office market, overall vacancy has risen. There are other concerns at play, however, not least the availability of larger floorplans and well-located, ESG-compliant properties. 14
CEE Markets Face Common Challenges Office pipelines across CEE are restrained, with few new projects being initiated in the uncertain economic, geopolitical, and financial environment. Further concerns include letting and office working practices and even the long-term demand for space. 26
SOCIALITE
Grappling With Hungarian Mysteries David Holzer says he is constantly reminded how little he knows of or about the magnificent Hungarian language. While he doubts he will ever accumulate more than a few words, he is keen to understand how it works. 29
Building on Your Assets
SPECIAL REPORT
Italian Fabrizio Mazzá, the commercial director and country manager for HB Reavis, talks about the developer’s strategic goal to become one of the most efficient asset managers NEWS in Europe, as well as a leading constructor. 13 Disinflation Process
is Broken in April Fresh data suggests that the decline in the consumer price index stopped in April. According to analysts, inflation could return above 4% in May. However, no significant price pressure is expected in the Hungarian economy in the coming months. 3
BUSINESS
AutoWallis Unveils Vision for Expansion to 2028 The listed auto retailer is setting ambitious financial targets for 2028, aiming to double its revenue to HUF 750 billion and EBITDA to HUF 40 bln from last year’s figures. 7