OTP to buy Budapest MOM Park complex

Office Market

OTP Real Estate Investment Fund announced its intent to buy MOM Park. The transaction is pending approval by the competition authority.

OTPʼs investment fund has lately been acquiring real estate in frequented areas of the capital: last year it bought the BSR office building on Váci út and it also acquired the West End Business Center, opposite the WestEnd City Center mall, business weekly HVG reported.

MOM Park, comprised of 18,000 sqm office space and more than 30,000 sqm of hop space is a successful business, with eight million visitors per year and a turnover of HUF 4.7 billion last year, higher than in 2016. The acquisition price has not been made public but it has been estimated at HUF 10 bln.

An office building right across from MOM Park, Alkotás Point, was acquired one month ago by Diófa read estate fund, controlled by businessman Lőrinc Mészáros.

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