The View 9

INDUSTRIAL MARKET

58

GERGELY BAKA Director, Head of Advisory & Transaction Services,

Industrial & Logistics

NEW SUPPLY FULLY COMMITTED, HIGHER VOLUME EXPECTED IN 2020

Industrial development activity in Greater Budapest remained modest in H2 2019, with three new schemes added to the modern for-lease stock.

The third quarter saw the completion of an additional 21,300 sq m building in BILK, fully pre-leased by Media Saturn, as well as a 10,000 sq m building in CTPark Budapest West, which was largely pre-leased by Englmayer. One new handover followed in the fourth quarter, in the form of a new 9,100 sq mbuilding in Dél-Pesti Üzleti Park, which was also fully pre-leased by Tolnagro. As such, the 40,400 sqmof new supply during the H2 period came tomarket with a combined occupancy rate of more than 90%, reaching full occupancy by the end of the year. With these recent completions, the total new supply in 2019 consisted of five schemes amounting to 64,200 sq m – ca. 50% of the volume registered in 2018.