The European Union could cover at least 60% of the costs of renovating Budapest’s busiest metro line M3, Budapest Mayor István Tarlós said on Friday, adding that talks on financing the remainder of the project’s costs have taken place with the European Commission and the European Investment Bank.

The value of commercial real estate transactions in Hungary during the first half of this year tripled compared to the same period in 2015, exceeding €910 million, which is more than last yearʼs total, according to a press release issued by JLL today.

Budapest, July 6 (MTI) – Tokaj, Balaton, Budapest and Sopron are to be treated as priority areas in the government’s tourism development strategy, the daily Magyar Idők said on Wednesday. The Hungarian Tourism Agency told the paper that the development of hotels and tourist attractions would be based on a unified strategy in order to boost the country’s attractiveness and the competitiveness of players in the sector.

Source: Daily news

 

Budapest Airport, the operator of the capital’s Liszt Ferenc International Airport, is planning to launch an investment program costing HUF 50 billion, CEO Jost Lammers said in an interview published in Hungarian weekly HVG yesterday.

Due to renovation works, Budapest’s Szabadság híd (bridge) will be closed to all vehicle traffic for two months starting today, Hungarian news agency MTI reported.

When choosing a travel destination bridges might not be among the most important aspects; however, the online travel portal Jetsetter believes that bridges are just as important sights as anything else and writer Chelsea Stuart even put together a list of the most beautiful bridges in the world. It’s a very pleasant surprise that one of Budapest’s symbols, the Chain Bridge was chosen as the 8th most beautiful bridge in the world. The list includes simultaneously breath-takingly beautiful and historic bridges, like the Brooklyn Bridge, Pont du Gard or Langkawi Sky Bridge. ‘Oh the bridge it shines’ as Elton John would sing. This is how the article describes the Chain Bridge: “Gracefully crossing the Danube, Chain Bridge’s cast iron design was the first to connect Buda (on the west bank) and Pest (on the east) before their unification in 1873. Once a marvel of modern engineering, the bridge has had quite the storied history. Nearly 100-years into its existence, it was blown up by German soldiers during the Siege of Budapest, at the end of WWII. Since the event left nothing to the site but the towers, it had to be entirely rebuilt (a process that was completed in 1949).”

Source: dailynewshungary.com


 

JLL announced today that it was the advisor for German asset and investment manager KGAL when it purchased Budapest’s Eiffel Square office building in a transaction that was reported Tuesday. Although the price of the transaction has not been published, JLL said this is the largest transaction of its of its kind in Hungary this year.

Budapest, June 15 (MTI) – Hungary’s government has declared a project company established to renovate the Rac baths, one of Budapest’s historic Turkish baths, of “strategic importance”, requiring the application of a special bankruptcy procedure, a decree published in the latest issue of the official gazette Magyar Kozlony shows. The 9 billion forint (EUR 28.7m) renovation and expansion of the baths, supported by financing from the state-owned Hungarian Development Bank (MFB), was completed six years ago, but its doors remain closed because of an ownership dispute.
Source: dailynewshungary

 

Real estate developer GTC will, in the coming weeks, launch a 21,500 sqm office building investment, referred to as White House, on Budapest’s Váci út, GTC Commercial Director Bori Gedai announced today at a press conference. 

With half of Hungary’s overseas property sales, Budapest apartments are the top target of international buyers and interest is rising.