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BNP Paribas Real Estate to manage Napfény Park mall

Awards

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BNP Paribas Real Estate Hungary has been awarded with the property management mandate for the Napfény Park shopping center in Szeged owned by Erste Real Estate Fund, which is currently under the management of Erste Fund Management Zrt., according to a press statement sent to the Budapest Business Journal today.

The property, which opened its doors to the public in 2008 with an area over 30,000 square meters, is considered the largest retail center in the southern Hungarian city of Szeged. In addition to the Tesco hypermarket and OBI DIY retail store, other significant brands, such as Jysk, Deichmann, RENO, dm-drogerie markt, Charles Vögele, KIK, Intersport, Cardo, Fressnapf, CCC and a number of smaller shops can be found there, the press statement said.

“We are very pleased that Erste Fund Management Zrt. entrusted us with the management of yet another property, thus expressing their satisfaction with our results achieved so far,” said Henrik Favari, CEO of BNP Paribas Real Estate Hungary. “Having over 24 years of local property management experience provides us a solid base to manage the Napfény Park Shopping Center to high standards according to the needs of the client. Winning the assignment is in line with one of our strategic objectives to strengthen our presence in secondary cities in addition to Budapest,” he added.

Erste Fund Management Zrt., the Hungarian fund management arm of the international Erste Group, has been present on the domestic fund and portfolio management market since 1993. The firm manages more than HUF 1 trillion in assets, most of them in investment funds.

One of the main competences of Erste Fund Management Zrt. is the management of real estate funds. In this segment, the company manages more than HUF 400 billion in assets, including Erste Real Estate Fund, the biggest Hungarian real estate fund. 

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