Hotels and offices seeing rapid expansion

Hotels

There are currently 24 hotels being built in the capital, mostly in the historic downtown, while office building construction is concentrated in the outer districts of Váci utca, South Buda, Könyves Kálmán körút (boulevard), and Hungária körút, writes Népszava.

Of the hotels in the capital, 18 are expected be completed this year, representing 2,150 new rooms.

Some 32 new hotels will be built nationwide and the total domestic hotel capacity is planned to be increased by 3,750 rooms by the end of 2022.

Currently, 574,000 square meters of office space is under construction nationwide, a quarter more than last year.

The capital’s modern office space is set to expand by 264,000 square meters this year, and could reach four million square meters early next year, according to CBRE real estate consultancy.

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.