March 2nd, 2009

Report details problems facing new retail developments in Budapest

By

There was no handover of new retail properties in Budapest in 2008, and several developers experiencing financial trouble delayed or even stopped projects, property consultancy ESTON International said in a report.

At the beginning of 2008, developers had planned to put 300,000 square metres of retail space onto the market, but there are now just 160,000 square metres under construction, ESTON said.

Several shopping centres were inaugurated in other Hungarian cities in 2008, among them the Agria Park in Eger, developed by WING, and the Forum Debrecen shopping centre.

The construction of the Arkad in Szeged, which, with 40,000 square metres of gross leasable area, aims to become the largest shopping centre in Hungary outside of Budapest, was halted, ESTON said, citing unofficial information.

Topics
Share
Comments
The All Hungary Media Group is firmly committed to freedom of expression and therefore applies a mostly "hands off" approach to comment moderation. Comments left by readers represent their own views and do not necessarily reflect the opinions or beliefs of the staff, editors or owner of the All Hungary Media Group, who nonetheless reserve the right to remove comments that are off-topic or which moderators consider to constitute "hate speech." Also note that in order to prevent spam we generally close entries off to comments several days after publication.

Comments are closed.