Chinese BYD buys huge office building for new European HQ in Budapest’s central district
The founder and CEO of the Chinese BYD, Wang Chuanfu announced yesterday that they would establish the European headquarters of the carmaker giant in Budapest. Now, they have bought a huge office building to have enough room for the employees.
New HQ for Chinese BYD in Budapest
According to portfolio.hu, the seller of the IP West is the CA Immo, which has been trying to withdraw from the Hungarian market and sell its portfolio for a long time. The 32,100-sqm office building, including 800 parking lots, has a favourable location since it is not far from the capital’s downtown, it is near the Infopark, which hosts numerous companies and the BudaPart, where newly-built apartments await their new owners or tenants.
Demand will be high since 2,000 employees will work in the European centre of the Chinese carmaking giant, Colliers Hungary wrote. Colliers represented the buyer in the transaction and provided Project Management Services. “The company will employ over 2,000 people at its new headquarters that will serve as the central hub for BYD’s European operations, driving innovation, covering Research and Development and high value-added services”, – Kata Mazsaroff, the CEO of Colliers Hungary, added.
Homeowners happy
Based on portfolio.hu, the homeowners in the neighbourhood will benefit greatly from BYD moving in. Moreover, several condos are still under construction. Therefore, the transaction may give a strong boost to those projects as well.
“The successful completion of the sale of IP West marks the beginning of our strategic withdrawal from the Hungarian market. The sale enables us to reinforce our commitment to our core markets and further sharpen our strategic focus”, CA Immo CEO Keegan Viscius said.
Big projects lined up for BYD development centre in Hungary
The development centre China’s BYD is setting up in Hungary has two big projects in the pipeline, the electric vehicle manufacturer said in a statement on Thursday. The first project focuses on the integration of intelligent technologies into modern mobility, and the second serves to develop next-generation electromobility technologies.
BYD founder and head Wang Chuanfu said the company would establish its European headquarters in Hungary at a press conference in the capital on Thursday. BYD said the new business and development centre would be located in Budapest’s 11th district, in the south of the capital. The base will be BYD’s fifth in Hungary, after its bus factory in Komárom (Northwest Hungary), its bases in Fót and Páty, on the outskirts of the capital, and its car plant in Szeged (Southeast Hungary).
Read also: