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CPI modernizes its real estate developments

Office Market

CPI Hungary Kft., the Hungarian subsidiary of CPI Property Group, will spend HUF 1.3 bln to modernize its existing real estate developments, the company announced in a press release today.

The buildings include Balance Building, Gateway Office Park, Budaörs Office Park, Arena Corner, Váci 188 Office Park, Airport City Logistic Park and Marriott Courtyard Hotel Budapest. According to the announcement, the modernization will begin with the Balance Building in September.

“The aim of CPI is to increase the value of its real estate and the reputation of the company on the market,” said Mátyás Gereben, general manager at CPI Hungary Property Group.

The report noted that the company owns eleven office buildings, four shopping centers, three hotels and one logistics park. The total managed assets of the company are approximately HUF 95 bln.  

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