Huge investments are reshaping the capital

Since tourism is in full swing, and the number of tourists constantly growing, this tendency has a positive effect on the building industry as well. New and new hotels are being built; but the number of offices and logistic centres, warehouses are also growing in and around Budapest.

Now there are approximately 3000 5-star hotel rooms in Budapest; by the end of 2022 their number could go up by 40%, depending on the success of the planned investments.

There's a brand new shopping mall as well that could completed in the near future: the Plaza Etele, in Kelenföld. This investment costs nearly 300 million Euros, resulting in a 55,000 sqm complex shopping and entertainment centre.

Now there are approximately 3000 5-star hotel rooms in Budapest; by the end of 2022 their number could go up by 40%, depending on the success of the planned investments.

There's a brand new shopping mall as well that could completed in the near future: the Plaza Etele, in Kelenföld. This investment costs nearly 300 million Euros, resulting in a 55,000 sqm complex shopping and entertainment centre.

As for the newly built flats, there are 470 projects (finished and in progress) altogether that mean more than 24,000 new flats in Budapest, that might reshape the face of the city completely. The office market has also been booming for several years; strangely enough, not just the size of these buildings get bigger, but they obtain more complex functionality as well.

The industrial buildings in and around Budapest have sprawled to 2,2 million sqms in the second quarter of 2019. This number could go up by 100,000 square meters this year, signalling the enormous building developments that are reshaping the face of our capital.

Reference: Portfolio.hu