ADVERTISEMENT

TriGranit plans no new development in Hungary next year

Deals

Hungarian construction company TriGranit will not launch new developments in Hungary nex year while it will start new projects in Poland, Slovenia and Slovakia as well as will continue ongoing programmes, the economic daily Napi Gazdasag reported on Tuesday, citing Trigranit CEO Arpad Torok.

The group has 400-500,000sqm area suitable for retail or office development in Hungary, including 147,000sqm on Budapest’s Vaci street.

They are ready to start preparations if demand appears but it makes no sense to start the process on a speculative basis, Mr Torok told the daily.

Not only the market but intentions to finance are much worse now than they were at the beginning of this year or a year ago, he said. There are no promising prospects in retail property development even without a halt on plaza developments, the CEO said.

ADVERTISEMENT

Czech economic confidence weakens in October Analysis

Czech economic confidence weakens in October

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

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.