2nd Phase of Millennium Gardens Gets Occupancy Permit   

Office Market

TriGranit and Revetas Capital have officially obtained the occupancy permit for the second phase of the Millennium Gardens office complex, according to a press release sent to the Budapest Business Journal.

The second phase of Millennium Gardens offers a premier destination for businesses seeking grade A+, sustainable office and retail spaces in Budapest. Designed to complement the first phase, the second phase brings a new dimension of sophistication and functionality to the bustling Millennium City Center.        

With its strategic location, panoramic views of the Danube, and precisely crafted design, the second phase of Millennium Gardens offers opportunities for companies looking to enhance their workspace experience.      

Highlights of the Second Phase

According to the press release, the second phase of Millennium Gardens puts particular emphasis on sustainability and environmental responsibility. In addition to energy-efficient design adhering to Breeam "Excellent" standards, the complex also offers several amenities such as an in-house restaurant or an environmentally conscious car wash in the parking lot.

The contractors working at Millennium Gardens were also selected based on their compliance with the HSE requirements and all activities on site have been closely monitored and reported on the corresponding CO2 emissions.

"Receiving the occupancy permit for Millennium Gardens' second phase marks a milestone in our commitment to pioneering sustainable office and community spaces. This marks the completion of the Millennium City Center development, a district rehabilitation project started in the late 1990s, which catalyzed the growth of the office market in South Pest. I hope that incoming tenants will find as much joy in working in Millennium Gardens as our current tenants do," said Tom Lisiecki, CEO of TriGranit.    

Eric Assimakopoulos, founding partner at Revetas Capital, notes, "Millennium Gardens, the jewel in the crown of our Hungarian portfolio, has now reached its final stage of completion. This exceptional project offers 37,000 sqm of cutting-edge office and retail space delivered in two phases, setting a remarkable example of responsible building standards and environmental impact reduction across our entire portfolio. The second phase of development perfectly complements the first, which has been consecutively recognized as the Best Commercial Office Development for two years in a row, adding new amenities and flexibility, perfectly adapted to the current market requirements."

"Millennium Gardens has transformed the South Pest office market into a vibrant center for innovation and commitment to sustainability, attracting prestigious international companies in various industries. It not only completes our initial vision for the Millennium City Center revitalization project of 12-hectare brownfield site, but also stands as a testament to the commitment we made to our stakeholders and tenants 17 years ago," he adds.

`It is such an emotional moment for all of us, who have been working on this project since it was only a mere hole in the ground. To have successfully developed both phases through the midst of either a global pandemic or a worldwide energy crisis is a remarkable achievement for any developer. Now the building in its entirety is open for another 17,000 sqm of business!’ – said Dömötör Kàroly Makk, Head of Leasing at TriGranit.     

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