Richter lays cornerstone of HUF 15 bln office building

Pharma

Image by LaMography/Moni Lazar

Hungarian pharmaceutical company Gedeon Richter laid the cornerstone of a HUF 15 billion office building in Budapest on Tuesday, according to a report by state news wire MTI.

The 17,400sqm building will be completed by the end of 2023.

Richter CEO Gábor Orbán said the latest expansion of Richter's base in the capital shows the values of the company's founder, born 150 years ago, have withstood the test of time.

Orbán said the creation of innovative, collaborative spaces was a primary consideration in the design of the new building, and as a responsible company they paid attention not only to efficiency but also sustainability, using recycled materials and a heating and cooling system using the ground layers.

The building will have room for 420 office workers and will hold a conference room, which can be split in two, with space for 120 people.

Finance Minister Mihály Varga said Richter is "among the biggest and most innovative companies" in Central Europe.

Varga noted that in goods exports the share of pharmaceutical products has risen above 5% because of the investments in the past decade. 

Richter chairman Erik Bogsch said investments in operations and production are still a priority for the company, but renovating their old office building would have been more costly than creating a new one, so they decided to invest.

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