Gestesa expands in Hungary

Pharma

Spanish property developer and investor Gestesa has been expanding its business in the Central European region since 2006. Its first agencies in the region were established in Hungary and then in Poland.

The company has started its expansion in Hungary with the building of an office block with 14,000 square meter floorspace at Baross Square and a property investment in the north-west agglomeration of the Buda side. Total value of the investments is €50 million ($70 million), 80% of it flowing into the office block development. Gestesa’s Hungarian agency has €20 million ($28 million) for carrying out acquisitions in 2007, said Zoltán Gyöngyösi, CEO of Gestesa’s local subsidiary. Gestesa’s sales revenue was €151.1 million ($212.9 million) in 2006 from selling properties. (Napi Gazdaság)

ADVERTISEMENT

Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.