Budapest: CA Immo leases 14.

CA Immo was able to acquire new tenants for some 9.300 m office space in five Hungarian office properties over the past six months. In addition, lease agreements were extended for about 4.800 m office space. The occupancy rate increases to 86% once these new leases are taken into account, and is thus well above the market average of 79% for Budapest. A total of about 14.100 m of office space has been let in five office buildings. Tenants include large, interna-tional groups, such as Ferrero for example, along with Hungarian banks and government-linked companies.

Dr. Bruno Ettenauer, CEO CA Immo: The Hungarian office rental market has been a challenge for many years, partly because of the tough economic situation. We have nonetheless been able to achieve positive results and keep our occupancy rate well above the market average.

CA Immos property portfolio in Hungary has a market value of around 422 m, accounting for about 8% of the Groups total property assets. The office property portfolio comprises nine buildings in Budapest with a total rentable effective area of 163,000 m; the largest of these is the Capital Square office block with a rentable effective area of 33,700 m. In addition, CA Immo owns more than 134,000 m of logistics space and 16,400 m of retail space in Hungary. The Hungarian asset portfolio is administered via the local CA Immo branch office in Budapest.

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