Skanska continues to develop office premises in Népliget Center

Press release 8/7/2008 12:00 AM CET

Skanska Property Hungary continues to develop modern and efficient office facilities in Budapest. During July the construction of Phase 2 of the office project Népliget Center began.

Népliget Center comprises a total of 3 buildings with approx. 26,600 sqm leasable office space. The first phase with an area of 9,200 sqm was completed in January 2008. Similar to other Skanska projects, the buildings are being developed with a focus on energy efficiency to achieve environmental and cost benefits for tenants and investors.

“We are optimistic about continuing this project. Népliget Center has an attractive location in Budapest and offers high quality office premises for our tenants. We see a stronger demand for offices located in this area and also an increased interest and awareness for energy-efficient properties”, says Andreas Lindelöf, Managing Director of Skanska Property Hungary.

Népliget Center is located between the Népliget Bus Station and the entrance of M5 motorway, on the line of the underground 3 as well as one of the most frequent tram lines of Budapest and just few minutes walking distance from Népliget Park. The second phase is estimated to be fully completed during Q1 2010.

The initial lease contracts of the first phase were signed earlier this year. Hessyn, a Hungarian accounting software developer, and Coop Hungary Zrt., a leading food retailer chain, moved into the building during the first half of the year. There are ongoing negotiations with more potential tenants.

August 2008