The real estate crisis is almost over, and developers finally took action, so more and more new buildings will be built/renovated in Budapest. Some of them will be completely new, while others will get properly renovated. Portfolio.hu collected a couple of these buildings.
Horizon Development recently purchased the listed building of the late First National Savings Bank of Pest, located on the corner of Vörösmarty Square and Váci Street. For a long time now the building was half-finished, but was never opened. The makeover can finally give it a push and finish it completely.
Although the building has a fascinating structure, it wasn’t suitable for commercial purposes. New horizontal and vertical access systems are needed: shops will occupy the ground floor and the first floor, and offices will be on the upper floor. The makeover is going to be finished by summer 2016.
The Balance Building is owned by the CPI Hungary, and it’s also part of the Váci Street office corridor. The main goal of the renovation is to take into account the changes that have occurred in the office market, and the wishes of (future) tenants. The makeover of the former Tower Building and the landscaping of the nearby area started in autumn 2015.
The new building will include both offices, and apartments, and the ground floor will have coffee shops and the like. The interior can be shaped according to the owners’ wish, and luxury apartments will occupy the two upper floors. The construction will start in the first quarter of 2016, and the environment friendly building is expected to be finished in the second quarter of 2018.
Nokia Networks’s new HQ
The 125th block of the Corvin Promenade is going to be a 25 m2 building, designed by ZDA – Zoboki-Demeter & Associates Architects. The office building is going to be the closing element of the Corvin Promenade, and is expected to be finished by the end of 2016. It’s going to be the new home of Nokia Networks and its Global Technology Center. The aim of the designers was to make a spontaneous and open building. The Corvin Technology & Science Park’s construction started in early 2015.
based on an article of portfolio.hu
Copy editor: bm
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