Cushman & Wakefield has chosen Budapest as the new site for its new Portfolio Services Center

International property consultant Cushman & Wakefield has chosen Budapest as the new site for its Portfolio Services Center (PSC).

At the press conference held on Tuesday to announce the decision. Minister of Foreign Affairs and Trade Péter Szijjártó said the new investment will create 250 new jobs, towards which the Government will be contributing training funding.

The Minister stressed that the new PSC will be creating jobs with extremely high added value within the service sector that require a high level of training.

Head of Global Occupier Services (GOS) Strategic Consulting Division Tamás Polster told reporters that Cushman & Wakefield has invested billions of forints in Hungary since 1991, with which hundreds of thousands of square metres of office space, production hall and shopping centre have been constructed.

Mr, Szijjártó highlighted that this was the eight investment in Hungary on the part of major U.S. corporations this year via the investment promotion programme, with investments totalling 30 million dollars creating some 1100 new workplaces. “This latest investment is further proof of the fact that it is in no way an exaggeration to describe Hungarian-American economic cooperation as a success story”, he said.

America is now the second largest investor in Hungary after Germany, the 1700 American companies currently operating in Hungary provide job for over 100 thousand Hungarians, and

the United States has become Hungary’s most important trade partner outside the European Union.

Trade flow between the two countries exceeded 3 billion dollars in the first seven months of this year, he added.

Cushman & Wakefield, which was founded a hundred years ago, is one of the world’s largest business property consulting companies, realised 6 billion dollars in turnover in 2016 and has 300 offices in 70 countries employing a total of some 42 thousand people, the Minister told reporters. A new service centre that will create 250 new jobs will be realised in Budapest within the framework of the investment. According to Mr. Szijjártó, the investment is another opportunity for young people with competitive knowledge to remain in Hungary, and to convince Hungarians working abroad to return home.