Budapest was selected out of 20 locations, subsequently narrowed down to Prague, Kuala Lumpur and Budapest. Low costs, a skilled workforce and the solid infrastructure that Hungary is able to provide were the chief reasons for selecting Budapest, the announcement added.

The new center is expected to conduct a broad range of UNICEF’s financial and human resources operations worldwide, enabling the children’s organization to realize greater efficiencies and cost savings, the announced noted. The center will serve the entire organization, with an expected headcount of approximately 300, operating in multiple languages. It will deliver a range of administrative services to all UNICEF offices, including payments and invoice processing, payroll, some human resources functions, and be home to an information technology helpdesk.

“We are extremely proud to have secured the perfect location for the new global service center of one of the largest organizations in the world. More and more SSCs chose Hungary as there is a highly qualified workforce and low labor cost compared to other European countries. We are proud that our professionals have the most sophisticated and widespread client network on the market, helping them cooperate with such tenants with great potential, as UNICEF,” said Gergely Pados, Managing Partner at Cushman & Wakefield Budapest.

“We are  happy to have been involved in UNICEFs market search and had the chance to represent the Landlord in this transaction. We have considered more options in Budapest, but finally the post-refurbishment quality of the building, its security and its location made UNICEF choose the Centrál Udvar. Amenities, location and excellent public transportation were the most important factors for UNICEF,” said Tamara Szántó, Associate at Cushman & Wakefield Budapest.

The 15,000 sqm Centrál Udvar office building located in the capital’s District 7, provide A category flexible office areas in variable sizes. The building provides quality office space on eight floors and lies in the core catchment area of Astoria and Deák tér, the most important public transportation hub of the city.

Cushman & Wakefield’s office in Budapest acted as the introducing agent between the landlord and the Hungarian Government, who acted on behalf of the Tenant, the announcement noted.