TriGranit announced in a press release that the firmʼs most active asset was Millennium Towers in Budapest, with altogether 19,010.7 sqm GLA in renewals and new leases, including agreements with Morgan Stanley and Oracle. With these agreements, the occupancy level of the Millennium Office Towers reached 99%, the company added.
“The good performance of our assets also reflects the trend: the CEE real estate market’s recovery is still on the go – slower, but still above the Western European level. There is continuously growing demand from multinational companies for ‘near-shoring’ – Central Europe has become a ‘traditional’ European destination for the BPO sector, especially Polish secondary cities like Krakow, Wroclaw and Lodz due to the large pool of cheaper, but effective and well-educated labor with strong language skills, in addition to developed infrastructure.” said Árpád Török, CEO of TriGranit.
Due to the strong performance of the BPO sector in the region, the company plans further office developments in the near future in each of its core countries: Poland, Hungary and Slovakia, the press release said.
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.
