GTC has acquired a new development project on Vaci ut 85 in Budapest, Hungary for an undisclosed amount. This new project will be entitled Center Point 3 and will add approximately 35,500m² GLA of office and commercial space to the flagship Center Point Office Campus. With this acquisition, GTC reinforces its position as the leading developer in the Budapest property market.
The newly acquired plot is located in one of the most dominant office locations close to Budapest’s CBD and currently the largest and most popular office submarket, comprising more than one-quarter of the total office building stock in the city. It is only 2 minutes walk from two Metro stations and will maintain a high visibility profile in a landmark position.
“This year we celebrated the opening of GTC White House, which increases the entire Budapest office portfolio to 141,000m². The acquisition of this land on Vaci ut 85 will further strengthen our market position and secure further growth in Budapest as one of the most attractive office markets in the region,” said Thomas Kurzmann, GTC’s CEO.
