NEO Property Services Enters General Contracting Market in Big Residential Projects

Residential

A digital visualization of the Le Jardin housing complex, the first large general contracting work of NEO Property Services.

NEO Property Services, a subsidiary of Akko Invest, a company listed in the Premium category of the Budapest Stock Exchange, has entered the general contracting market in large residential projects, according to a press release sent to the Budapest Business Journal.

NEO’s first large general contracting work is the first phase of the 164-apartment Le Jardin housing complex, which may be followed by additional projects in the future.

Le Jardin’s investor is Living, the residential property development branch of one of Hungary’s largest real estate companies, Wing. The housing complex is planned to be handed over in 2024, with NEO and the investor setting the goal of obtaining Breeam certification for Le Jardin.

NEO aims to obtain additional orders in the future for large residential property projects while continuing to maintain its major position on the Hungarian real estate management and services market. In the interest of the above, NEO has also continued to expand its general contracting team thanks to its increased number of contracts and projects, the press release notes.

Construction works (developing leased properties, greenfield investments, real estate expansions, redesign works) play an important role in the company's short and medium-term plans, as that is where the company sees the greatest potential for growth in revenue and results.

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