lh x cw market report A4_23.03.02 v34 interactive72

THE PRIMARY OFFICE LOCATION FOR SSC / BPO TENANTS The Váci corridor office submarket is Budapest’s “office corridor”, the primary office location for international tenants looking for large contiguous office space. With strong occupier activity seen in recent years, demand for the Váci corridor accounts for about a third of total demand. THE VÁCI CORRIDOR

VÁCI CORRIDOR SHARE OF TOTAL BUDAPEST DEMAND

Cushman & Wakefield Research

100%

90%

LARGEST OCCUPIERS (SQ M)

80%

70%

Cushman & Wakefield Research

30 000

60%

50%

40%

25 000

30%

20%

Exxon Mobil

10%

20 000

0%

2011

2017

2012

2021

2013

2015

2018

2019

2016

2014

2010

2022

2020

The key drivers of its success have been the availability of development sites, proximity to workforce (as District XIII has seen the most intensive development of residential units), and excellent communications through the metro and one of the city’s key arterial roads, which links the Danube bridges and the city centre.

15 000

KEF

Raiffeisen Bank GE

Budapest Bank

10 000

Roche

Magyar Posta Diageo

Blackrock KPMG

5 000

Citibank

RailCargo

Medicover

Idomsoft Zrt

0