The transaction indicates the growing role of regional institutional capital in shaping the CEE office markets and that quality office assets across the region are attractive to investors.
“This transaction reflects our ability to deliver office projects that meet the expectations of a broad spectrum of institutional investors across the CEE region,” says Adrian Karczewicz, head of divestments at Skanska Commercial Development Europe.
“The sale of Equilibrium 1 continues our track record of working with regional capital and reaffirms Bucharest’s position as a dynamic and increasingly mature investment destination. We are proud to see another high-quality Skanska development become part of a long-term investment portfolio,” he adds.
“With this transaction, Gránit Asset Management aims to expand its international real estate portfolio further and strengthen its presence in the CEE real estate market,” comments Álmos Mikesy, CEO and board chairman of Gránit Asset Management.
“Equilibrium 1 perfectly aligns with our long-term ‘5B Strategy,’ a vision to establish a sustainable, high-quality, and dominant office portfolio across the region’s key capital cities, Budapest, Bucharest, Belgrade, Vienna [Bécs in Hungarian], and Bratislava. The property’s prime location, diverse tenant mix, and outstanding ESG credentials make it an ideal fit for our investment strategy,” he says.
The office complex, consisting of two buildings, is located in Bucharest’s northern business district, Floreasca – Barbu Vacarescy. The first entirely let phase was completed in 2019 and is Leed “Platinum” certified.
Gránit is a Hungarian institutional investor managing 24 investment funds, including the third-largest retail fund in the country. Its current assets under management amount to more than EUR 2.7 billion.
“Gránit Asset Management’s goal is to rapidly expand in the CEE and SEE region by further investing in, among others, commercial real estate. To fulfill this, we have been actively building our pipeline and plan to close on further, similarly remarkable investments in the near future,” the investor comments.
Sales have started on the second phase of Living’s latest residential development, Le Jardin residential park, located in Rozsnyay utca in District XIII, close to the Váci út office corridor. Le Jardin 2 is expected to be completed in the first half of2027; 147 apartments are available.
The residential development will have a range of efficient floor plans from practical studio apartments to 5-room penthouse apartments. Flats on the ground and first floors will have direct access to an interior garden.
Le Jardin 2 has energy-efficient, high-quality technical solutions in compliance with market standards and is expected to get an “A+” energy rating. Annual heating and cooling costs should be considerably lower than in conventional flats, as the development features a modern heat pump system that uses only renewable energy, heating and cooling panels on the ceilings and triple-glazed plastic-framed doors and windows for efficient heat and sound insulation, according to Living.
Living, the residential development arm of Wing, was established in 2017. Since then, it has delivered close to 2,000 apartments, including those currently under development, with more than 1,700 already sold, it says.
“The current market offers exceptional opportunities for investing in real estate, so now is definitely the time to invest in a home that will provide value in the long term,” says Tibor Tatár, head of Wing’s residential and office development businesses in Hungary.
Completed Living projects include Kassák Residence, Metropolitan Garden, Park West 1-2, Kassák Passage, Kassák Terrace and the first phase of Le Jardin. In addition to Le Jardin 2, other projects underway are West 3 and Római Park in District III.
Developer Panattoni Hungary and owner OTP Real Estate Investment Fund have officially handed over a 15,300 sqm built-to-suit production unit in Debrecen to ZF Chassis Modules. The facility will supply chassis systems to the nearby BMW plant, which is due to start production this year.
The factory is ZF’s second such development in Hungary, following its recent project in Kecskemét. Representing an investment of nearly HUF 7.5 billion and implemented in close cooperation with the local municipality, the environmentally friendly facility embodies 21st-century solutions and will create 220 new jobs in the Northwestern Economic Zone.
“Following our success in Kecskemét, we are proud to announce another high-tech industrial development in Debrecen. The project progressed at a demanding pace and was delivered on time, a clear reflection of Panattoni’s core values: agility, efficiency, and reliability in industrial real estate development,” said László Kemenes, managing director of Panattoni Hungary.
As a critical part of BMW’s supply chain, the new plant assembles front and rear axles in a just-in-sequence process, aligning delivery precisely with BMW’s production schedule and specifications.
“Once operating at full capacity, the facility will produce and deliver chassis systems for 35 vehicles per hour. The highly automated production lines perform 22–24 assembly steps separately for front and rear systems. To ensure continuous operation, logistics must coordinate the delivery, storage, and supply of nearly 500 different parts from more than 60 suppliers, based on BMW’s forecasts,” explained Csaba Varjassy, plant manager of ZF Chassis Modules Hungary.
This development represents another significant milestone in the economic growth of Debrecen and the surrounding region. Industrial investments like this are particularly important for eastern Hungary, strengthening the local economy, reducing outmigration, and enhancing regional competitiveness, commented László Papp, Mayor of Debrecen.
This article was first published in the Budapest Business Journal print issue of April 22, 2025.
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