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The development site covered by the agreement is located in the northern part of the block with direct metro access. The Váci út Office Corridor is Hungary’s largest office market. Wing has been a key player in the renewal process for 25 years, having developed the Atrium Park office building and the Kassák residential project in the area.
“Wing is confident about the long-term prospects of the office market, as [interest] for high-quality, conveniently located and sustainable office spaces remains strong. Experience shows that tenants are increasingly drawn to developments that offer a flexible work environment and premium services,” the firm says.
“At the same time, there are early signs that the office market may be approaching a turning point, as activity gradually starts to pick up and companies show renewed interest in modern, ESG-compliant office solutions,” it adds.
The residential development, planned in two phases and expected to begin in 2026, already has a finalized concept design, a definitive building permit, and a town planning agreement with the district municipality. As part of this, the company will commit to creating high-quality community spaces and green areas for local residents and people working in the area.
Beyond Hungary, Wing is also active in Poland and Germany, with a total developed portfolio of more than 5.5 million sqm across the three countries, covering all segments of the real estate sector.
Prime Holdings Group has completed the sale of the Łódź 1 project in Poland and has also finalized the sale of the Science Park office complex in Budapest. The total value of both transactions exceeds EUR 60 million.
The Łódź 1 project has been sold to the local investment group, Domena. The property comprises an office complex of 6,400 sqm GLA, situated on a land plot of more than 10,000 sqm. During the holding period, Prime obtained several urban planning approvals that allowed for a substantial expansion of the project to approximately 45,000 sqm of mixed-use space, including a residential area.
“Łódź 1 is a flagship example that showcases Prime’s investment strategy and how we operate in the market. We focus on assets that enable us to define and efficiently execute our development strategy, typically over a five-year horizon,” says Roy Linden, partner and co-founder at Prime Holdings.
“By targeting properties where we can leverage our expertise to unlock potential and significantly increase value over the investment cycle, we create opportunities for long-term growth. This often involves repositioning or converting commercial assets to align them with current market dynamics and the distinctive character of each location,” he notes.
“We have a strong conviction in the CEE region and are actively seeking suitable investment opportunities in Poland, the Czech Republic, and Hungary to reinvest or deploy capital,” Linden adds.
Prime has also completed the sale of the Science Park office complex in District XI of Budapest to a subsidiary of Concorde Securities Hungary. The asset was held in a joint venture partnership with a leading global institutional investor. With a total area of more than 30,000 sqm of GLA, this was one of the most significant office-market transactions in Hungary this year, according to the investor.
The Prime Holdings Group has been active as an investor in CEE for more than 12 years, focusing on Polish cities and Budapest, and has completed transactions totaling over EUR 500 million in the two countries.
Futureal, the owner of the Etele Plaza shopping and entertainment center, has agreed with three banks to refinance its existing loans to provide a new credit facility. The pan-European developer has signed a EUR 165 million loan agreement with a consortium comprising Erste Bank Hungary, Erste Group Bank AG, and UniCredit Bank Hungary.
Futureal utilized the largest Hungarian shopping center development financing deal of the previous decade to deliver Etele Plaza. Owing to the project’s strong performance in recent years, the partners have now refinanced this and extended the loan maturity to 2035, according to Futureal. On the financing consortium’s side, DLA Piper provided legal support for the agreement.
“Etele Plaza, now in its fourth year, has delivered robust market results, and Futureal has maintained a stable financial and professional track record for two decades. These factors created the conditions to refinance the project on favorable, long-term terms. Our collaboration with financial partners further strengthens the project’s financial stability and ensures that Etele Plaza can continue to operate competitively in the years ahead,” said János Gárdai, CEO of Futureal. Opened in 2021, Etele Plaza is the most recent “new” shopping center in Budapest.
“With its uninterrupted growth over recent years, excellent tenant mix, and modern, ESG-eligible solutions, Etele Plaza has proven that it deserves the trust of financiers. We are pleased that we could sign another long-term financing with Futureal Group, further strengthening our excellent, close to two-decade business relationship,” stated György Salamon, head of real estate financing at Erste.
Sustainable operations played a central role in the development of the 55,000 sqm, BREEAM In-Use “Outstanding” Etele Plaza, alongside digital and design solutions, Futureal says. Etele Plaza’s building management system (BMS) maximizes the complex’s operational efficiency. The center uses a special thermal energy loop that combines ventilation with heat recovery, optimizing indoor temperature and cooling or heating requirements based on weather conditions and visitor numbers. With the help of its BMS, Etele Plaza achieved 15% lower consumption in 2023 than initial levels and the system has been continuously fine-tuned since then.
This article was first published in the Budapest Business Journal print issue of November 14, 2025.
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