HungaryTrends – The previous week in business and finance
See below main business and financial news from the previous week:
REAL ESTATE: LUXURY HOMES IN BUDAPEST
Luxury homes and apartments constitute only a minimal percentage of the whole real estate market in Hungary, yet, business is booming, and there are more foreign investors than ever. The starting price of luxury apartments in Budapest is EUR 4880/m2, but it can go as high as EUR 9600/m2. Read more HERE.
7 MILLION BOTTLES OF HUNGARIAN WINE SPREAD THROUGH EUROPE BY A MULTINATIONAL BUSINESS
As it was revealed at Lidl Wine Expo Hungary, a German supermarket chain significantly contributed to the further popularisation of the world-famous Hungarian wine culture: it sold almost 15 million bottles of Hungarian wine last year. About half of this amount was exported beyond Hungary’s borders. Királyleányka, Tokaji Furmint and Szürkebarát have proven to be the most popular among the market chain’s customers. Read more HERE.
HUNGARY ISSUES JPY 30 BN SAMURAI BOND
Hungary’s Government Debt Management Agency issued a three-year JPY 30 billion samurai bond. The bond carries a 0.37 percent coupon but has a yield under 0.6 percent after conversion into euros.
MOL BOARD PROPOSES HUF 127.5-PER-SHARE DIVIDEND
The board of Hungarian oil and gas company MOL proposed payment of a 127.5 forint per share dividend on last year’s earnings. The proposed dividend includes a 50 percent top-up from free cash flow.
CONSTRUCTION OUTPUT JUMPS 43.2 PC IN JANUARY
Output of Hungary’s construction sector rose by an annual 43.2 percent in January, the Central Statistical Office said. Output of the building segment rose by 48.4 percent during the period. Output of the civil engineering segment climbed 33.4 percent.
WINGHOLDING ACQUIRES OFFICE BUILDINGS IN BULGARIA
Hungarian property developer WINGHOLDING said it acquired, indirectly, two office buildings in Bulgaria in transactions with a combined value of 9,850,000 euros. The acquisitions mark WINGHOLDING’s entry onto international markets, “a step that fits well with its strategy for continuous growth”, the developer said.
OTP REAL ESTATE FUND RAISES STAKE IN APPENINN TO 5.92 PC
The real estate fund of OTP Bank, Hungary’s biggest commercial lender, acquired a 5.92 percent stake in listed property holding company Appeninn. Holding company Konzum sold a 4.94 percent stake in Appeninn to OTP Real Estate Fund in an OTC transaction, and the fund acquired a further 0.98 percent of Appeninn shares on the bourse.