According to Atenor, Olympia is embracing new workplace trends, such as remote work and hybrid schedules, prioritizing teamwork and flexibility in response to shifting market dynamics.
“As part of this transformation, a complex strategic asset reconfiguration is underway. The rebranding of the Hungária körút project as Olympia signals a decisive shift towards adaptability and innovation, addressing tenants’ growing focus on employer branding through attractive office designs,” the company says.
The hybrid work model, blending remote and office-based operations, has reshaped tenant preferences. Atenor believes Olympia will stand as a “revolutionary example, showcasing enhanced communal spaces designed for collaborative teamwork, innovative services and flexible leasing conditions tailored to the evolving needs of tenants, including those with smaller space needs, but frequent requirements for extended services, such as presentation rooms, co-working or catering.”
While the long-term development plan for the Hungária körút project includes two additional phases, immediate upgrades include a public parking lot and a communal park, extending from the corner of Stróbl Alajos utca into Olympia’s internal garden.
The campus development spans four plots, comprising a total area of 72,000 sqm. The first 21,000 sqm space is home to international and local companies, such as Heineken, Cargill, and Uber’s Hungarian partner.
New services will be introduced through the last quarter of this year and into the first half of 2025 to enhance the appeal of Olympia’s office spaces, catering to diverse tenant needs.
Besides the existing shops, pharmacy and a GP’s office, Olympia Building “A” will get a new restaurant next year and a café with co-working spaces, including a large meeting room to maximize flexibility for the building’s existing tenants as well as new occupiers with smaller spatial requirements.
A stunning inner courtyard with water features will be delivered as the final upgrade of the extensive rebranding project.
The 15,000 sqm Building “B” is being considered for functional repurposing, in line with Olympia’s commitment to adaptive redevelopment.
The revitalization of the campus project reflects a broader effort within its vicinity, driven by collaborative initiatives between the developer and local authorities.
“Situated in a buzzing area of the capital gaining more traction with local developers, Olympia is set to redefine the submarket’s office landscape, offering a compelling alternative to traditional office hubs like the Váci Corridor with outstanding public transportation including the metro, the central bus station and the Keleti railway station,” Atenor says.
This article was first published in the Budapest Business Journal print issue of October 18, 2024.
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