Hungary Showcased at MIPIM
In response to the need to better promote the country the Municipality of Budapest, the Hungarian Investment Promotion Agency and the Association of Property Developers’ Round Table (IFK) have established “Budapest-Hungary, Time To Invest”, a joint stand at the 30th MIPIM, to be held this week at the Palais des Festivals in Cannes.
Agora Office in Debrecen.
The investment value of the Hungarian projects presented at what is the leading international commercial property expo exceeds EUR 4 billion according to HIPA. In addition to Budapest, developments in Debrecen, Miskolc, Pécs, Szeged and Zalaegerszeg are also being presented.
The leading developers (Atenor, Futureal Group, Gránit Pólus Group, GTC Hungary, HB Reavis, Horizon Development and Wing) are presenting projects due to hand over in 2020.
“For HIPA, MIPIM is especially important, since it gives us the opportunity to present Hungarian real estate development projects to international investors at one of the most significant events of the sector,” said Róbert Ésik, president of the investment promotion agency.
Key Importance
“This enables us to strengthen our real estate infrastructure, which is of key importance for economic development. HIPA focuses on three areas in the real estate segment which are fundamental for the influx of foreign direct investment: the development of the industrial and logistic infrastructure; the construction of category “A” office buildings, with a special focus on Hungarian university cities; and the development of a quality hotel infrastructure serving business and health tourism,” Ésik added.
The annual expo on the Cote d’Azur is a barometer of how a particular market and region is viewed by international investors and developers. An increased amount of capital is flowing towards the commercial real estate sector as capital looks for a home. As many as 5,400 representatives of investment and financial companies from 100 countries are attending MIPIM 2019 according to REED Midem, organizers of the four-day event.
From the supply perspective, CEE developers and county representatives from for example Hungary, Poland, Czech Republic, Ukraine, Turkey and Russia perceive the need to promote their cities and development projects at such major international property and investment expos as MIPIM and Expo Real in Munich.
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