The 57,000 sqm building, developed by real estate developer Wing Zrt., is being built at the intersection of Üllői út and Hungária körút (ring road), near the Groupama Aréna football stadium.
The investment will cost nearly HUF 50 billion, with three banks financing the project: UniCredit Bank Hungary, UniCredit Bank Austria and K&H Bank, the press release noted.
Telekom and T-Systems Magyarország plan to relocate most of their Budapest-based employees to this new building once construction is completed.
The building will also feature an underground car park with a total of 1,350 parking spaces and a conference hall with room for up to 300 people, according to the press release.
In addition to the space being used by Telekom, an additional 4,000 sqm office space will be available for lease in the building. The construction project is expected to create approximately 1,000 jobs, the press release added.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
