In addition to the well-known business centres in Budapest, new office blocks are being created, which are the real gold reserves of the capital's real estate market, although not yet organised into sub-markets. One of these is the Hungária Boulevard, where the location of office buildings along the metro line junctions is unbeatable.
Old sub-markets and new urban sub-centres
There are currently eight sub-markets in the capital, where developments have taken place with different intensity over the past decades. After the regime change, the central districts of Pest and Buda became prominent, but then, due to the settlement patterns, there was little opportunity to build new office buildings in the inner districts, and the popularity of the agglomeration locations is not rising above average, despite the strong development in some periods.
A significant coherent office corridor has developed on Váci Road, while South Buda is the capital's other favourite sub-market, and although there is no coherent office corridor here, a loosely arranged office block is forming around Rákóczi Bridge. Likewise, in the Hungária Boulevard from Árpád Bridge to Rákóczi Bridge - within the sub-market officially known as Non-Central Pest - developments have been launched in several locations, which will only become new urban sub-centres at the junctions along the metro lines.
The Hungária Boulevard is becoming more popular
Several junctions of the Hungária Boulevard can be highlighted, such as the parts along Váci Road, the Könyves Kálmán Boulevard at Üllői Road, and the junction at Kerepesi Road near the stadiums. The latter is also special because of its true sports and business centre, with sports facilities, commercial properties and a vibrant urban sub-centre. Next to the Papp László Budapest Sport Arena, the world-famous Puskás Arena has recently been completely renovated, but new office complexes are also being built in the vicinity of the junction.
The accessibility of the Kerepesi Road junction is excellent, as the Tram 1 and Metro Line 2 run along key public transport routes in Budapest, connecting many districts quickly while ensuring seamless north-south and east-west transit across the capital. Location is still the most important criterion when choosing an office, which is why the 29,000 m2 Arena Corner Office Building is still popular among tenants after fifteen years of operation, while the iconic building complex also defines the cityscape of the area. Moreover, the complex is a true oasis, with its internal garden and terraces, as well as its huge glass surfaces, creating a sense of vitality and favourable natural light, which are now essential for employee well-being.
While Arena Corner offers highly adaptable spaces, building units and prestige locations for major tenants, CPI aims to increase the competitiveness of the office complex by introducing a multi-tenant concept for companies looking to develop a minimum of 500 m2 of workspace. Together with the transformation of the tenant mix, CPI Hungary is transforming the common areas into real community spaces, allowing for agile working methods, informal meetings and community events. In addition, the Human Innovation Programme, which offers a wide range of services, will be introduced to ensure Arena Corner's competitiveness in the office market for another 15 years.