GTC invests over EUR 160m in offices in Budapest

GTC acquires the Ericsson Headquarters and the Siemens Evosoft Headquarters office buildings in Budapest. The acquisition of two unique A‑class office buildings occupied by triple A tenants is an excellent opportunity to continue the growth of GTC. The acquisition is in line with the strategy to refresh developer’s portfolio to newer, more modern and green office buildings in the CEE region.

GTC, a leading developer and asset manager in Central and Eastern Europe, has decided to boost its Hungarian portfolio again by investing EUR 160 million in the acquisition of two office properties in Budapest: the Ericsson Headquarters and the Siemens Evosoft Headquarters. The acquisition of two unique A-class office buildings occupied by triple-A tenants is an excellent opportunity to continue GTC’s growth. Both buildings have LEED Gold green certification. The transaction is in line with GTC’s strategy of refreshing its portfolio to

newer, more modern buildings and focus exposure on office developments in the CEE region

as well as fulfil the policy of investing in projects which comply with eco-friendly standards.

Having purchased the Váci Greens D office building, GTC continues its excellent streak of seizing new opportunities by acquiring two assets in Budapest. The new acquisition complements the existing portfolio of modern, eco-friendly office properties in the Hungarian capital confirming the company’s dedication to operate green, quality projects on the CEE markets.

Both buildings are conveniently located in the southern part of Buda on the Danube riverbank.

One of the most modern office buildings in Hungary, the Ericsson Headquarters comprises 21,100 sq. m of A-class lettable space, including high-tech and high-end finishes and solutions contained in offices, laboratory, canteen and 500 underground parking places. This fully-leased building is home to one of the Swedish company’s largest R&D centres. It was also awarded the LEED ‘Gold’ certification confirming pro-environmental solutions applied to meet various needs of the tenant.

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On the other hand, the Siemens Evosoft Headquarters office building is WING’s newest property development project delivered in late 2020. It brings 20,700 sq. m of modern space housing research and development functions and providing employees with a sustainable 21st-century working environment. It is fully leased and LEED Gold certified. The new acquisitions are an embodiment of GTC’s policy of investing in projects complying with the highest environmental, social and governance standards.