Budapest Offices


Váci Greens wins „New Real Estate Development of the Year” award

Apr 25th, 2016

The „Office of the Year” awards honoured Váci Greens’ Building C in the New Real Estate Development of the Year category. Building C has been already inhabited by General Electric, GE’s Global Operations and Healthcare branches are located there.

Atenor took a big risk when the company announced its mega-project in 2008 – in the middle of the recession –, regarding the construction of an office complex at the popular site of the Váci Corridor. The project entitled Váci Greens has been calculated with an office space of 100 000 m2 and five separate blocks. Perhaps many doubted the completion of the development in those difficult times. Since then, the recession has come to an end, the developers’ plans were realised successfully – by the summer of 2015, the second block, Building C has already been elevated, while the third (Building B) is soon to be inaugurated. The excellent location and accessibility, the corresponding metro line and the services provided by the nearby supermarket are important factors in the success.

The new building is not only the triumph of the developer company but the Hungarian commercial estate market, and more precisely, of the office market as well, because it proves that investments of a larger scale can also be viable. Thanks to the rise in the real estate market, Atenor purchased an adjacent lot, where a sixth block (Building F) is being planned, making the whole campus extend to an area of 135 000 m2. The project was the first office development in Budapest to be awarded with the BREEAM “Excellent” qualification in 2011.

eco friendly office

“An office building is like a product on the market, or a car: it’s not enough to develop it well and create it: it has to function accordingly, economically and be rentable in the long run. In the classification, nowadays being environmentally friendly is indispensable, while sustainability is also an important factor for the jury. Váci Greens was the one to meet the respective criteria in the otherwise very close competition. Moreover, what makes Váci Greens outstanding is the fact that a 60 000 m2 speculative development was realised in the economic conditions that followed the years of the recession – which was successfully leased to an international company with high standards and levels of expectation, GE. That is legitimate proof that Váci Greens isn’t only a well-developed office complex, but one that can be sustained economically and in an environmentally friendly manner” – Árpád Török, TriGranit’s CEO explained the jury’s decision.

“Váci Greens stands out from the rest of the buildings at the Váci Corridor not only because of its presence, but because of its »abilities« as well. The projects that received the BREAAM Excellent certification have soon garnered an immense popularity on the market because of their affordable operational costs and low energy usage. To mention an example, in Váci Greens’ Building C and B, according to calculations, there will be no need to use external energy for 7-8 months a year, due to the usage of geothermal heat – neither for heating, nor for cooling” – explained Zoltán Borbély, Atenor’s country director.

“According to our experiences, leading international companies present a great demand for modern, energy efficient and environmentally conscious office buildings. We have already identified this forthcoming trend at the beginning of the development, at the time of the economic recession – this made us concentrate on the most recent and modern equipment, spacious central areas and green areas. I’m very happy to know that being one step ahead of the market, we could appear on it with an office variation that can meet not only present, but future demands as well” – added Mr. Borbély.




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