CPI Hungary has brought all the property management activities of its domestic retail portfolio in-house, since besides property management and renting, the legal services are performed by the employees of the company. This enables CPI Hungary to offer its retail tenants an even higher level of service, making their businesses even more competitive and responsive to market changes.
CPI Hungary has brought the entire management of its retail portfolio - including asset management, leasing, marketing, operations and legal support - under integrated management in-house, which means that there are no outsourcing services for any activity. As a result, the company's workforce has grown significantly by 40%.
The company's integrated, in-house portfolio management model has already delivered on expectations in the office market, as it has significantly improved service levels, which are also highly appreciated by tenants, who have a high occupancy rate. The CPI therefore has high expectations for the full integration of retail management, as more efficient property management can contribute to increased tenant satisfaction.
This move will further strengthen the partnership between tenants and CPI Hungary, allowing the company to respond more directly and quickly to tenant needs. The concentration of full-service management in one hand will also enable the company to manage market changes more effectively, which given current retail trends, will help to ensure that the interests of shops are served and their competitiveness maintained.
In 2017, CPI acquired a significant amount of retail real estate in Hungary, followed by the repositioning of shopping centres and smaller retail properties and the professionalisation of management. The efforts have paid off, as regional shopping centres are increasingly popular with visitors.
In addition, the Campona, part of the company's portfolio, will be renovated this spring as a family experience centre, thus realising the mall concept of the 21st century in South Buda. The revitalised Campona will meet new shopping trends and needs, with a sophisticated interior design and a focus on entertainment, reinforcing the shopping centre's regional city centre character.
"We believe that the best service to our tenants can be provided by carrying out all property-related activities ourselves. The satisfaction and loyalty of our tenants have already proven this in the office segment, where the integrated ownership approach has been successful since CPI's home-grown success in 2014, and we expect similar efficiency and growing tenant satisfaction in the retail sector. In the future, our tenants will be able to contact us directly, which we hope will increase the competitiveness of our stores," said Attila Madler, Director of CPI Hungary Asset Management.