Where is the Hungary’s construction industry heading in a changing economic and energy landscape? The Building Future – Autumn Construction Industry Forum sought to answer this question by bringing together key players from the construction, logistics, electrical engineering and finance sectors. Held on 24 September at the Aquaworld Resort Budapest, the large-scale professional forum focused on the current challenges facing the sectors, the future of construction, energy efficiency and financing opportunities. Organised by the HAD Group, which looks back on a history of more than 30 years, the event focused not merely on assessing the current situation, but on exploring possible future directions and the business opportunities inherent in collaboration.
The central theme of the event was to identify sustainable and effective responses to the sector’s challenges. The event was opened by Ernő Hadnagy, owner and managing director of the HAD Group, who spoke candidly in his address about the challenges of recent years and the transformation of the group, emphasising the importance of professional collaboration and collective thinking in a changing market environment.
“Our group is a bit like a toolbox: each tool is a separate item that does its job on its own, but its true strength becomes apparent when, for a complex project, you don’t have to scour five different places for the tools you need, because the entire set is right at your fingertips. For us, this ecosystem is built around the property development and construction value chain.” – pointed out Ernő Hadnagy, owner and managing director of HAD Group. In his opening address, he emphasised that the aim of the Building Future event is not to sell, but to initiate an open professional dialogue with market players, where the future can be built together by combining each other’s capabilities.
Hungary’s construction industry: a united force from separate paths
“Previously, the companies belonging to this group performed excellently, but they operated side by side, each on their own path. It was this realisation that actually gave rise to the HAD Group. Until then, we’d merely been toying with the name, but it was this breakthrough in our way of thinking that shaped us into a true group of companies. Within this framework, it is teamwork that enables our outstanding staff to achieve extraordinary results together. We seek partnerships, joint ventures and opportunities where we can complement each other’s capabilities. Over the years, we have learnt that in today’s market, it is no longer lone warriors who shape the future. By joining forces, we can achieve so much more.” – said Tamás Nagy, Business Development Director at HAD Group.
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Macroeconomic challenges and financial strategies
The specialist presentations that opened the event placed the sector’s prospects within a broader macroeconomic and international context. Zoltán Pogátsa, an economist, analysed developments in the global and domestic economic landscape, whilst Mariann Trippon, Senior Analyst at CIB Bank, drew attention in her presentation to the accelerating pace of change, the importance of technological adaptation and the need to manage economic uncertainties. The expert outlined the impact of geopolitical tensions – developments in energy prices and transport routes – and domestic macroeconomic indicators on the investment environment.
The forum’s financial panel discussion addressed key issues in financing, with banking and finance experts covering topics ranging from the current situation and outlook for the property and construction sectors – from the current situation and outlook for these markets, through the financeability of projects, to how construction companies are assessed by banks. The discussion also covered the types of projects banks consider financeable, the factors that make a contractor financeable in the long term, and the role that subsidised and guaranteed schemes – including the SZKP, EXIM and MFB programmes – can play in financing investments and SMEs. The experts agreed that, alongside increasingly stringent banking requirements, ESG criteria and energy efficiency now represent direct business value and a financing advantage.
Construction crisis or efficiency revolution?
Bence Bolfán, managing director of HAD Consulting, analysed the outlook for the Hungarian construction industry between 2026 and 2028 and the key market trends for the coming period in his presentation entitled ‘The future of the construction industry after 2026 – crisis, stagnation or renewed growth?’. He pointed out that the downturn stems primarily from a weakening of investment demand, whilst productivity, financial stability and the quality of project preparation will become increasingly important in the coming period. “It is possible to create value even in a difficult market,” emphasised Bence Bolfán, managing director of HAD Consulting.
In the round-table discussion that followed, key players in the construction market examined how current market challenges can be translated into concrete professional and business actions, and what technological, organisational and attitudinal changes are needed to set the construction industry on a more efficient course. The discussion therefore focused not only on identifying the challenges, but also on possible responses and action. “It is not enough to talk about the challenges facing the construction industry – we must take action.” – emphasised István Derczó, founder and owner of Weinberg 93 Kft.
Energy has become the new building material
The main theme of the afternoon session was the relationship between energy management and the construction industry. Attila Holoda, energy expert and managing director of Aurora Energy Kft., pointed out in his presentation that the price of energy and the costs of carbon dioxide emissions run through the entire construction value chain – from materials production to construction. Among other things, he emphasised that energy is no longer merely an operating cost (OPEX), but one of the most fundamental parameters in the design and life-cycle costs (LLC) of buildings.
“The cost of energy runs through the entire construction value chain, the extent of whose impact is determined by the chosen technology, the contract and the method of cost allocation. Thus, the cost of energy may already be reflected in the price of materials. Energy is no longer an overhead cost, but a design parameter.” – said Attila Holoda, Managing Director of Aurora Energy Kft., in his presentation.
The subsequent panel discussion on energy examined how energy is becoming a key business factor in the design and operation of buildings. The experts sought to answer how energy-related decisions can be made as early as the design phase that will reduce operating costs in the long term, increase the value of properties and improve the competitiveness of businesses. Key topics included the energy modernisation of the existing building stock, the business opportunities offered by smart building technologies, and the economic aspects of energy independence: the return on investment for solar panel systems, energy storage, electric vehicle fleets and power purchase agreements (PPAs). One important lesson from the discussion was that energy investments are no longer solely about sustainability: with proper planning, they can become cost-saving, value-creating and long-term business decisions. A key factor in this is ensuring that planning, technical and construction considerations are integrated from the very start of the project. This comprehensive approach is well illustrated by the way the HAD Group operates; drawing on the specialist expertise within the group, it is able to support its partners throughout the entire process, from design through technical solutions to construction.
Trust as a countermeasure to bureaucracy: the role of neurobiology in team performance
The professional session of the event concluded with a presentation by neurobiologist Máté Szász, which focused on the physical and mental performance of decision-makers and employees, as well as the role of health awareness.
“Trust fuelled by oxytocin reduces bureaucracy and uncertainty, and the resulting cost savings can lead to up to double the team performance and soaring levels of collaboration.” – emphasised neurobiologist Máté Szász in his presentation, who argued that the relationship between brain function and performance is also determined by the data we take in: “Information affects our bodies just as much as food does. You can become overfed, pathologically emaciated, and if it goes bad, it can even be toxic. It really does matter what ‘diet’ you put your brain on!”
The Building Future – Autumn Construction Industry Forum concluded, in addition to the specialist presentations, with intensive networking and test-drive opportunities, reinforcing the event’s main motto: “The future is built on cooperation.”
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