Foundation stone laid for Promenade Gardens

Office Market

The foundation stone for Budapest’s latest office project, Promenade Gardens, was ceremonially laid yesterday. The 25,000 sqm commercial property on Váci út is being developed by Horizon Development. It is due to be completed in Q4 2017, with a move-in date of Q1 2018.

Horizon say the sustainable building will offer an “ideal work environment” for its tenants. “Thanks to its sustainable solutions and innovative technical features, Promenade Gardens is expected to receive a dual environmental certification (LEED “Gold” and BREEAM “Very Good”),” the developer said in a press release sent to the Budapest Business Journal.

“The inherent benefits of the location include its excellent accessibility and unique visibility,” Horizon Development say The flexible office layouts – with above average internal height – will be stretched out across large floorplates on five floors in four towers, and will be able to accommodate both horizontal and vertical expansion plans of dynamically growing companies. The project will also include a landscaped internal garden with extensive water surfaces.

Wednesday’s celebratory event, attended by some 150 guests drawn from the capital’s real estate community, started with a performance by children from the neighboring Ákombákom Kindergarten, followed by an appraisal by 13th district notary Dr. Sándor Bujdosó, who pointed out the dynamic development of the Váci office corridor, and the district in general. Attila Kovács, managing partner of Horizon Development, talked about the history of the project, the evolution of its “elegant and modern architectural concept”, as well as the “unique technical excellence of the office building and its complex tenant benefits”. A silver time capsule buried at the event included signed floorplans, national and district flags, daily papers, a recent issue of the BBJ with an article on the project, and Polaroid photos taken during the ceremony. The foundation stone is of terracotta marble, in line with the color palette of the future building façade.

The project owner of Promenade Gardens is the ERSTE Open-ended Real Estate Investment Fund. DVM Design Ltd. is responsible for design, project management and sustainability consultancy; the general contractor is DVM Construction Ltd.

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