TriGranit and Revetas Capital have officially obtained the occupancy permit for the second phase of Millennium Gardens. This achievement represents a noteworthy milestone in the development of Budapest’s sustainable office landscape. Following the success of the first phase, which received its occupancy permit in the summer of 2022, Millennium Gardens stands as a testament to innovation, sustainability, and modernity in commercial real estate development.
The second phase of Millennium Gardens further solidifies its position as a premier destination for businesses seeking grade A+, sustainable office and retail spaces in Budapest. Designed to seamlessly complement the first phase, the second phase brings a new dimension of sophistication and functionality to the bustling Millennium City Center.
With its strategic location, stunning panoramic views of the Danube, and precisely crafted design, the second phase of Millennium Gardens offers exceptional opportunities for companies looking to thrive and enhance their workspace experience.
Key highlights of the second phase
Enhanced, flexible office spaces: The new phase introduces additional leasable office space, designed to meet the evolving needs of modern businesses focusing on flexibility, comfort, and productivity.
Sustainability at its core: Just like the first phase, the second phase of Millennium Gardens prioritizes sustainability and environmental responsibility. From its energy-efficient design to its adherence to BREEAM ‘Excellent’ standards, the complex remains committed to reducing its ecological footprint while providing top-tier amenities (like the in-house premium restaurant or the environmentally conscious car wash in the parking lot).
Harmonious integration: Harmoniously integrated with the first phase, the second phase creates a cohesive environment that fosters collaboration, innovation, and success. Its connectivity to public transportation and proximity to key amenities, the Liszt Ferenc International Airport, and top-notch universities make it an ideal choice for forward-thinking organizations.
“Receiving the occupancy permit for Millennium Gardens’ second phase marks a milestone in our commitment to pioneering sustainable office and community spaces. This marks the completion of the Millennium City Center development, a district rehabilitation project started in the late 1990s, which catalyzed the growth of the office market in South Pest. I hope that incoming tenants will find as much joy in working in Millennium Gardens as our current tenants do,” said Tom Lisiecki, CEO of TriGranit.
Eric Assimakopoulos, Founding Partner at Revetas Capital, commented: “Millennium Gardens, the jewel in the crown of our Hungarian portfolio, has now reached its final stage of completion. This exceptional project offers 37,000 sqm of cutting-edge offices delivered in two phases, setting a remarkable example of responsible building standards and environmental impact reduction across our entire portfolio. The second phase of development perfectly complements the first, which has been consecutively recognized as the Best Commercial Office Development for two years in a row, adding new amenities and flexibility, perfectly adapted to the current market requirements. Millennium Gardens has transformed the South Pest office market into a vibrant centre for innovation and commitment to sustainability, attracting prestigious international companies in various industries. It not only completes our initial vision for the Millennium City Center revitalization project of a 12-hectare brownfield site but also stands as a testament to the commitment we made to our stakeholders and tenants 17 years ago.”
“It is such an emotional moment for all of us, who have been working on this project since it was only a mere hole in the ground. To have successfully developed both phases through the midst of either a global pandemic or a worldwide energy crisis is a remarkable achievement for any developer. Now the building in its entirety is open for another 17,000 sqm of business,” said Dömötör Kàroly Makk, Head of Leasing at TriGranit.
Millennium Gardens aims to become a reference project from the environmental and sustainability point of view for the Hungarian real estate market. Innovative solutions were adopted during the construction itself such as the technical solutions that were implemented for reducing emissions and power consumption during operation and environmentally friendly materials that were used for the building. The contractors working at Millennium Gardens were also selected based on their compliance with the HSE requirements and all activities on site have been closely monitored and reported on the corresponding CO2 emissions.
