Latest Developments from Váci út Office Corridor

Codic International, based in Brussels, builds its 21,000 square meter office and 275 apartments in Budapest with the Hungarian Houses of Pest and the Venta Group in Austria. District XIII. is both among the best districts in terms of office development and housing development, as there is a lot of investment in this area. At the same time, one of the highest towers in Váci Street is being demolished to allow modern office buildings to be built in the development of Skanska.

New office corridor

Properties that are being built within the Green Court Residence and Green Court Office developments will be available to customers by the end of this year and will be ready for the last quarter of 2020.

Codic’s name can also be connected to Krisztina Palace, a 17,000 square meters complexum, which was handed over in 2010. The new development may be suitable for the headquarters of up to two companies. Levels can be divided flexibly according to tenants' needs and 275 apartments are being developed.

There are a lot of investments happening in district XIII., so after the completion of the Váci street office corridor there will be almost 1 million square meters of offices here. The number of employees can reach 100,000, which may also mean that demand for housing may increase in the area.

Changing the cityscape

The 61 meter waterworks office building at the corner of Váci street and Dózsa György street is being demolished, according to the information of HVG. The old house was built between 1979 and 1981 and would require major upgrading, but developers would rather build new office buildings to it’s place.

The new owner of the building is Skanska, who has created several developments in Hungary, such as Mill Park or Nordic Light. The old tower will be replaced by a modern office building.

"Skanska Magyarország Ingatlan Kft. has been dealing with the construction and development of offices in Budapest for a long time. We are also planning to build a modern, viable office complex on this site, but it would be too early to share further details." said the company to Portfolio Ingatlan.

Sources:

https://www.portfolio.hu/

https://www.portfolio.hu/