“Reaching structural completion means we have successfully completed one of the most important stages of the project. So far, more than 600 professionals have contributed to the development, reflecting the scale and complexity of phase II,” says András Ábrahám, project director at Skanska Commercial Development Europe.
“H2Offices is being developed in three phases, and construction of phase II started at the end of 2024. The substructure and main structural works are completed, and the project has entered a further development phase focused on façade installation and the implementation of mechanical and electrical systems,” he explains.
Ábrahám said the offices are designed as a workplace that responds to both business needs and broader environmental ambitions. “It also reinforces H2Offices as a building of firsts, including the ambition to become the first carbon-neutral building in operation in Budapest, supported by energy-efficient technologies such as four-season heat pumps, rooftop photovoltaic panels and renewable energy sources,” he adds.
The project incorporates low-carbon materials, and Skanska is demanding Environmental Product Declarations from key suppliers. The development will include a nearly 3,600 sqm park, which will expand to approximately 5,000 sqm of community space once the whole complex is completed.
According to Aurelia Luca, executive vice-president of Skanska’s commercial development business unit in Hungary and Romania, the second phase of the project reflects the developer’s ambition to deliver office space that is future-proof, commercially relevant and aligned with the evolving expectations of occupiers and cities.
“Reaching structural completion is an important milestone and confirms that the project is progressing according to plan toward delivery. With its strong sustainability credentials, advanced technical solutions and ambition to become the first carbon-neutral building in operation in Budapest, H2Offices sets a new benchmark for high-quality office development. The strong market response, including the largest speculative lease transaction of the past decade on the Hungarian office market, further confirms the relevance of the development,” she says.
“At Skanska, our approach is different because we are self-financed. This gives us greater stability and allows us to take a long-term view of development. Even so, preleasing remains highly important as it is a strong indicator of market confidence and of how occupiers assess the quality and relevance of a project,” Luca adds.
Skanska Group has operated as a developer in Hungary for more than 39 years, having delivered more than 250,000 sqm of commercial space. All projects undergo LEED, WELL Core & Shell, and Access4you certification processes.
iO Partners has launched iO4Workplace, a proprietary strategy tool that transforms one of the most complex and costly questions that a business faces (how much office space do you actually need?) into a precise, data-driven answer, in five steps and under a minute, says iO Partners.
After human resources costs, real estate remains one of the largest impacts on a company’s balance sheet. Yet, research consistently shows that 40% of office space goes unused on any given workday, with global office utilization averaging just 54%. Businesses are paying for space they do not use or do not support value creation, based on assumptions that no longer reflect how work has changed, iO Partners insists.
Beyond space calculation, iO4Workplace is seen as a decision-supporting engine that embraces the complexity of workspace planning while offering a simplified view of its impacts. Built on three decades of office development experience and hundreds of data points, the tool condenses what has traditionally required weeks of analysis into a five-question process.
The output delivers scenario-based analysis: exact space requirements for multiple configurations, and the immediate cost implications of each decision.
“We will provide real value for our clients right at the first meeting,” says Balázs Agócs, head of workplace services for CEE & SEE at iO Partners. “We built iO4Workplace to simplify complexity and support deep understanding of how workplaces can support business success.”
Innovinia has completed its latest strategic transaction by adding a 17,500 sqm industrial hall in eastern Kecskemét (92 km southeast of Budapest by road) to its portfolio. With this deal, the company has increased its total assets under management to more than 270,000 sqm, according to the firm.
The leading Hungarian industrial developer already operates its own-brand parks in IGPark Kecskemét West and IGPark Kecskemét South zones. This latest move secures a strategic position in the eastern district as well. The newly purchased unit is home to an international light-industrial tenant under a long-term lease, according to Innovinia.
“This acquisition is a key step in our real estate development strategy, as integrating the eastern location makes our presence in the region truly comprehensive. We have not only increased the size of our portfolio but also optimized our positioning across Kecskemét’s most important industrial hubs,” comments Balázs Czifra, director of sales and asset management at Innovinia.
“Geographically, we are seeing a strategic shift beyond the capital. While Greater Budapest remains a vital logistics hub, regional destinations such as Debrecen, Kecskemét, Nyíregyháza, and Pécs are experiencing unprecedented demand. This trend is driven by their strategic proximity to major OEM plants and the localized availability of a specialized technical workforce, which is becoming a decisive factor for high-value industrial investments,” Czifra adds.
This article was first published in the Budapest Business Journal print issue of May 22, 2026.
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