Here are the largest real estate developments in Budapest for 2021 – VIDEOS+PHOTOS
In 2021, several exciting construction projects will be carried out in the Hungarian capital. Let us see the most important residential developments, office buildings and hotel improvements scheduled to be handed over this year.
Residential developments
According to the data of the Budapest Housing Market Report, a total of 25 projects with more than 100 apartments are expected to be handed over in 2021 in Budapest. The largest of these is the Academy Garden project in Budapest’s 9th district carried out by Cordia; within the framework of which, more than 300 apartments are scheduled to be completed this year. Besides, Cordia has four more developments of more than 200 apartments that are also expected to be handed over this year.
In addition to Cordia, the following projects are expected to be terminated this year:
- Condominium of Alfa Group – 9th district,
- LIVING (Wing) Park West’s -13th district
In total, more than 6,700 apartments built for sale are planned to be handed over in Budapest this year, the majority of which can be found in the 9th and 13th districts.
On the Buda side, the 11th district is the most popular area of developers, where almost 1,200 flats are expected to be realised this year, among which the development of BudaPart is the most significant.
Office buildings
As the Hungarian news portal Portfolio reports, besides residential developments, several office buildings are scheduled to be handed over in 2021, namely:
- the construction of the next phase of Futureal Budapest One;
- the nearly 20,000 m2 Budapest City under the development of BudaPart in the 11th district;
- the 42,000 m2 Liberty office building under the development of WING, also in the 11th district;
- the 15,500 m2 Atenor Roseville office building in the 8th district and Atenor Arena Business Campus in the 3rd district of Budapest.
Hotel developments
In the last ten years, the number of tourists visiting Budapest has increased significantly, which could be seen in the number of hotel developments. Even though, 2020 brought a critical drop in the tourism sector, some of the hotel developments initiated earlier are scheduled to be completed this year, so an even larger offer will be waiting for domestic and foreign guests in the post-epidemic period.
In 2021, the following hotel developments will be handed over in the five-start category:
- Radisson Collection Basilica with 71 rooms;
- Rácz Hotel & Spa with 67 guestrooms;
- and the 49-room Aria Hotel.
Among the four-star hotels:
- Tópark Projekt Hotel with 175 rooms;
- the 100-room Boutique Hotel under the development of BIF;
- the 93-room Apsis Hotel;
- the 76-room A3 Hotel;
- and the 54-room Mamaison (complex renovation of Starlight Sutien Hotel Budapest).
Furthermore, several developments are realised among the three stars as well, including the 312-room InterCity Hotel, the 214-room B&B Hotels, the 158-room H2 Hotel Budapest, the 123-room A52 Hotel, the 100-room M4 Mamaison and the 50-room Bo18 hotel.
Therefore, if all the hotel developments will be handed over by the end of 2021, the hotel capacity in Budapest may be increased with more than 2000 guestrooms.
Other significant developments
Besides the categories mentioned above, there are other large construction projects planned to be terminated this year.
Out of these, the Liget Budapest Project should be highlighted, where further developments are scheduled for 2021.
According to the plans, the House of Hungarian Music will open by the end of the year, the former historical entrance of the park will be renewed, and the City Park Promenade will be expanded. In the autumn of 2021, the Csillagerőd in Komárom, implemented within the framework of the Liget project, will open with an exhibition.
Read alsoHere are the largest real estate developments in Budapest for 2021 – VIDEOS+PHOTOS
Source: portfolio.hu