Tuesday, Nov 15, 2016. 14:17

Magyar Telekom lays cornerstone of new HQ in Budapest

press release

The cornerstone of Magyar Telekom’s new HUF 50 billion headquarters was laid today by developer Wing, according to reports. The 58,000 square-meter building housing a staff of 4,500 is scheduled to be finished by the second half of 2018.

The design of the new building.

Approximately 4,000 sqm of the building will be leased to parties other than Magyar Telekom, said Wing Chairman-CEO Noah Steinberg, according to Hungarian news agency MTI.

Magyar Telekom, the Hungarian subsidiary of German telco giant Deutsche Telekom, launched construction of its new Hungarian headquarters, which will be the largest single-block office development in Hungary, in May.

In 2015, MTel agreed to sell its three main office buildings in Budapest to Wing under a forward sales contract and take up a long-term lease at the new headquarters the developer is building, MTI recalled today.

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