Liberty Development’s South Wing Receives Use-permit

Office Market

The rooftop terrace of the Tribe Budapest Stadium, part of the dual-branded Liberty Hotel.

The south wing of Wing’s mixed-use Liberty development has received its use permit, and the first office tenants, eMag and Geodis, have moved in. The 360 sqm Absolute Teamsport Focivilág sports store is also now open on the ground floor.

In the project’s next stage, the Liberty Hotel, Hungary’s first purpose-built dual-branded hotel, is expected to open by the end of the year. Development of the north wing is underway with 20,000 sqm of Breeam “excellent” certified office area and is expected to open in the first half of 2024; office spaces are still available according to Wing.

The complex includes 650 parking spaces, bicycle racks and changing rooms, and an inner garden and green area between Liberty and the Telekom HQ building Wing previously developed on the site.

“With the handover of the office areas in the south wing, Liberty, our largest development at the moment, has reached a major milestone,” says Gábor Angel, deputy CEO for office development at Wing.

“The next step will be the opening of the dual-branded hotel, where the finishing touches are underway. Once that is done, Liberty will officially become a multifunctional building. Based on market demand, the final work of the north wing is currently being prepared with a further 20,000 sqm, in which there is ongoing potential tenants’ interest,” he says.

“Our aim was to create a distinctive and innovative building that will define the Budapest cityscape and will reflect modern property market trends. We are building a people-oriented, multifunctional complex with a range of services and green solutions,” Angel adds.

The exterior of the Liberty building by Wing.

Intersection Location

Liberty is located in District IX, at the intersection of Albert Flórián út and Könyves Kálmán körút. The first phase includes 10,000 sqm of Breeam “excellent” office space on four floors in addition to the hotel, which shares branding between the three-star Ibis Budapest Stadium and the four-star Tribe Budapest Stadium. There are retail units on the ground floor and floors 5-8.

The development was penned by the Hungarian firm DPi Design, and HBM conducted the civil engineering. Swietelsky Magyarország was responsible for completing the structure, and Bernecker is the general contractor for the final works. 

Wing, an established Hungarian developer and investor, has projects across multiple commercial market sectors in addition to large-scale residential developments. Office projects by the company include the Magyar Telekom, Ericsson and Siemens-Evosoft headquarters.

In the industrial sector, Wing operates the East Gate Business Park and developed the Wizz Air Training Center in the vicinity. The company also has several hotel projects, including the Ibis Styles Budapest Airport Hotel and B&B Hotel Budapest City. In the retail sector, Wing has opened the refurbished and rebranded GoBuda Mall, which is Hungary’s first sustainable and green-certified shopping center, according to Wing.

The renovation of the Liget Center office complex is about to reach another milestone with a new building, Liget Center Vitrum, which will join the existing Liget Center Classic and the Auditorium. At the same time, the visual identity of Liget Center, the umbrella brand of the buildings, is being updated: it will be modern and distinctive while reflecting the history of the building complex, according to Wing.

The developer has extended its activities to the Central European real estate market and is now present in two other countries beyond Hungary. It is the majority owner of Poland’s Echo Investment and Bauwert, one of the leading German residential and commercial real estate developers.

This article was first published in the Budapest Business Journal print issue of September 8, 2023.

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