September 06, 2018

Electrolux finds competitive advantage in Promenade Gardens

Electrolux finds competitive advantage in Promenade Gardens

Market leading professional and household appliances company Electrolux set up its new 1,730 sqm Hungarian headquarters this month in Promenade Gardens, the most technically advanced office building recently completed on the Váci office corridor of Budapest. Offices, showrooms and presentation spaces are located on the ground floor and the 1st floor of the building, accommodating 100 colleagues and various divisions of Electrolux. This quality step up from the previous building also means better positioning and business prospects for the brand.

András Tamássy (General Manager, Sales Area South CEE) shared the global corporation’s considerations when choosing Promenade Gardens: “We dreamed big when opting for Promenade Gardens. The business imperative to maintain our competitive advantage required the building to meet the Electrolux A-standard, a category in which Promenade Gardens clearly overachieved. Our Budapest headquarters will be one of the highest quality within the CEE region both in terms of aesthetics and technical quality. I consider it a great success to have been able to conclude a mutually beneficial contract with Horizon Development in the state-of-the-art, dual certified sustainable building they developed. Our new, healthy workspaces will contribute to the wellbeing of our employees and increase both individual and team efficiency. I truly hope that our colleagues will also embrace this great change and appreciate the benefits it brings to their everyday life.”

Attila Kovács MRICS (Managing Partner, Horizon Development) elaborated on the developer’s perspective: “We were extremely pleased to be able to offer the best office solution for Electrolux, where they can continue to provide best-in-class consumer experience in the appliance sector and develop even further. Along the entire development process, we worked with the same dedication to create a top-quality office building on the Hungarian commercial property market. We are pleased to see that our tenants confirmed the viability of our efforts, having chosen Promenade Gardens. Horizon Development warmly welcomes Electrolux in the building.”

Kata Mazsaroff (Director, Head of Occupier Services at Colliers International) who worked directly with the tenant shed light on the motives behind her client’s decision: “The business driver of the Electrolux office relocation was to find a real estate solution that primarily represents Electrolux’s brand but also supports employee empowerment. The quality and architectural value of Promenade Gardens is a significant upgrade for Electrolux that better reflects the brand and its core corporate values. The main criterion of the long-term HR strategy was to find a solution that does not only support the existing Millennial generations’ needs, but also attracts future hires. The building and its amenities fully support these requirements.”

On behalf of ERSTE Open-Ended Real Estate Fund, Balázs Pázmány FRICS, President of the Board extended the landlord’s warm welcome and appraised the commercial success of the property: “As the property’s owner, we are pleased to see Electrolux join the exquisite lineup of companies that have already set up their headquarters in Promenade Gardens. Electrolux, Celanese and Citibank all represent corporate and professional values that are consonant with the building’s excellence in an architectural, sustainability and aesthetics sense. With final negotiations for the remaining areas we are reaching full occupancy in Promenade Gardens. World-class Property Management services in the building will provide all the support for Electrolux to get settled in their new, top quality business environment where they can reach new heights in brand awareness and business productivity. We wish them all the success in this endeavor.”

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