Development of the East Gate Business Park continues with a €1.8-million EU grant (HU)

The East Gate Business Park, situated at the intersection of the M3 motorway and the M0 orbital road, is the largest business park in the northern catchment area of Budapest, spread out over an area of 37 hectares. It contains modern halls that are equally suitable for warehouse or commercial use, as well as category A office units.

East Gate Business Park_HU

East Gate Business Park is 98% occupied and currently has a developed area of 65,000 m².

To help fund this new latest development, the European Union has awarded a HUF 500-million (approx. €1.8 million) grant in a tender, designating the region as a key development area. This will pave the way for a substantial reduction in rental fees at the business park, to as low as two thirds of the usual market price. In today's price-sensitive market, this is a very important consideration.

The East Gate Business Park is situated in a region with attributes that are excellent not only in comparison to other local facilities, but also by international standards. The business park is located near to a film studio complex that has become known as Hungary's answer to Hollywood.

The new development in this popular business park creates opportunities, primarily for manufacturing companies but also for warehousing companies, to rent units constructed to suit their particular requirements at exceptionally favorable terms and low rents, over the long-term (five to 10 years).

ABB, a leading participant in the market for engineering services, has recently signed a long-term rental agreement on a 2,300-m² site in the park, which is 98% occupied and currently has a developed area of 65,000 m². With this, the tenants of the East Gate Business Park have been joined by another reputable company with a stable background.

Existing tenants of the park include General Electric Hungary, Philip Morris Magyarország, Phoenix Pharma, Lear Corporation, VOLÁNBUSZ, Nefab Packaging Hungary, IGEPA Paper Hungary, and Central Drinks.

Source: Pannon Media

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