June 04, 2019

GTC's Pillar has broken ground in Budapest

GTC's Pillar has broken ground in Budapest

GTC is gearing up in Budapest by commencing construction of the Pillar office project located in Budapest’s 13th District, which is rapidly becoming the new business quarter of the capital. Recently, GTC celebrated the completion of their LEED Platinum certified GTC White House office building located in Váci Ut corridor, fully leased to BlackRock, Range Rover Jaguar, and Spaces. To further expand its strong position in the Budapest office market, GTC acquired one more land plot adjacent to GTC’s Center Point to increase the development pipeline to over 100,000 sqm of office space.

Pillar will offer 29,000 sqm state-of-the art office space over 7 floors. It is situated in a highly visible landmark location in the Budapest’s 13th District, which is rapidly becoming the new business quarter of the capital. This new office building will offer cafe bars, restaurants, co-working spaces, post office, playroom, relaxing garden, bike facilities, shopping experience, conference centre and many more features for the future tenants, creating real value in the Hungarian real estate market.

“We see continuous strong demand for modern office space in Budapest and we are very proud that before the GTC White House’s first anniversary of its opening it is fully leased! This lets us forecast great success for the new project Pillar in the future and we cannot wait to see how the construction of this amazing project progresses,” commented Thomas Kurzmann, GTC’s CEO.

The recent full lease of GTC White House was one of the key achievements of the developer in the first quarter of this year. The office building was built on the site of a former elevator factory on the Váci Road office corridor. It has a total leasable area of 21,500 sqm including a 2,000 sqm entirely re­furbished standalone loft building and 19,500 sqm of new premium quality offices. GTC White House has achieved the LEED Platinum certification in recognition of its environmentally friendly and sustainable technical solutions.

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