Icon Real Estate Management Expanding Portfolio

Analysis

HomeWork office building

Icon Real Estate Management is expanding its client portfolio and number of properties under management, according to a press release sent to the Budapest Business Journal.

Among these, flexibility is essential in the property management of the newly delivered HomeWork office building, which features forward-looking technical solutions, the company tells the Budapest Business Journal.

HomeWork was born in the heart of Budapest's District II, with the long-awaited rehabilitation of a historic monument school building, which now houses residential properties, offices, and various business units. With this project, Codic Hungary - present in six countries internationally and in Hungary since 2006 - aimed to preserve its unique architectural values and create spaces that meet today's needs, while offering a renewed community space and green areas.

Consequently, the building requires a complex operator approach in terms of property management. The facility, developed by Belgian developer Codic, will add a new role to Icon's property portfolio by adding condominium management to its repertoire.

"At Icon, we put the needs of our clients and the market first, and we look for professional approaches to these needs. Our new partnerships are the fruit of good human relations and flexible, tailored service delivery, and we will continue to place a strong emphasis on this. We are particularly pleased that we have been given the trust in new areas, and we have also extended our client base with an international client. In terms of numbers, the size of the portfolio managed by Icon, which includes office, shopping center, and logistics properties, has increased to 635,000 sqm," said Zsolt Kákosy, senior director of property management at ICON Real Estate Management.

This fall, two new stores opened in the Icon-managed Sziget Center in Tököl: New Yorker and TEDi. The space in the rented premises has been very quickly adapted to the specificities and the brands' image. Sziget Center covers the shopping needs of the region, with 24 shops of many different types.

The list of tenants of the property and facility management company has been extended with an international partner: TVM Transport Hungary has started its operations in the M5 Gyál logistics park. The basic purpose of the complex is a logistics park, but the majority of the property is not only used for storage of the goods to be transported but also for the production and packaging of the products, from product design to engineering, testing, and service activities.

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