Wing starts new development next to Telekom HQ

Office Market

Real estate developer Wing Zrt. has announced that it has begun preparations for the construction of another major office building in Budapest, right next door to the recently inaugurated Magyar Telekom headquarters, according to a press release sent to the Budapest Business Journal.

A visualization of the new project.

With a total floor space of 40,000 sqm, the Liberty Office Building will offer premium office and retail spaces. The building, constructed to BREEAM ‘Very Good’ certification requirements, is planned to include a plant-filled, two-floor rooftop greenhouse spanning the wing along the Körút boulevard, alongside a skybar with a panoramic view of the Buda hills. Strategically located directly along the M3 metro line, it will serve as a gateway to downtown for those arriving from the airport, according to the press release.

The proposed eight-floor office building has over 40,000 square meters of floor space and large offices with highly efficient floor plans, says the press release. The architectural features of the building include a playful, colorful ceramic facade, which also offers sun protection, and terraces, shaped differently for each floor, overlooking the internal park. Underneath the office building, a four-level underground parking garage with 680 parking spaces, 250 bike racks, changing rooms and showers is currently under construction.

In keeping with the green concept, the Liberty Office Building is seeking BREEAM Very Good certification. In addition to energy efficiency technology, the plans also incorporate sun traps, garden fountains and several other creative architectural solutions. The top floor will host an air-conditioned greenhouse with plants, fountains and a footpath, as well as a panoramic skybar and café. According to the press release, the building is ideally suited as headquarters for a single company or for multiple tenants.

In the latter case, it can be divided into sections according to individual requirements and completed in two phases, each providing 20,000 sqm. Wing claims that there is already substantial interest in the office building.

"Liberty Office Building is another major and iconic office building shaping the character of this developing area in Budapest to be completed to the high standard people have come to expect of Wing," says Noah Steinberg, Wing’s president and CEO.

Rejuvenated neighborhood

Thanks to already completed and pipeline developments, the neighborhood will benefit from a wide range of services in addition to the business atmosphere of the project by the end of 2020.

The refurbishment of the M3 metro line and the Népliget metro station are planned to be completed at the same time, and public spaces in the neighborhood are set to be rejuvenated, including the already completed Orczy Garden and Nehru Park, with the adjacent Népliget scheduled for refurbishment next year.

Népliget will house outdoor sports facilities, new restaurants, cafés and exhibition halls, and a conference center for cultural events. The next two years will see the construction of the new Museum of Transport and the Opera Workshop opposite Népliget, which represents a further major milestone in lending the area a premium, urban character.

Following the completion of the Magyar Telekom headquarters, the Liberty Office Building is a further major step in transforming the neighborhood of Népliget into a prime office location of the Southern Pest office market, according to Wing.

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