Newmark Group announced an agreement with Budapest-based VLK Consulting, which will become Newmark VLK Hungary.
“Newmark VLK Hungary represents a significant foothold for our platform in Central and Eastern Europe,” said Newmark Chief Executive Officer Barry Gosin. “Valter has amassed a talented group of experts who have tapped into an increasingly active regional marketplace, and we look forward to driving the continued development of the platform throughout the country.”
VLK Consulting was originally founded by Valter Kalaus. The group has established a strong track record as one of Hungary’s leading commercial real estate services firms, advising a wide range of clients, inclusive of global leaders, throughout the office, retail, industrial, hospitality and leisure sectors.
“We are excited to be part of one of the world’s leading commercial real estate services companies, which will allow us to tap into Newmark’s extensive suite of product offerings, technology resources and global market data as we continue to serve our clients, including the growing roster of blue-chip companies that are establishing offices in Hungary,” said Valter, Managing Partner of Newmark VLK Hungary. “With one of the strongest economic growth rates in Europe, Hungary is establishing itself as a true business destination in the region. Newmark’s platform provides us with the foundation and resources to harness this growth, as well as greater access throughout Europe and the broader global markets.”
The announcement follows a recent agreement with a leading Polish commercial real estate firm operating as Newmark Polska. Newmark identified Hungary as an ideal growth market in Central and Eastern Europe (CEE), as it has displayed numerous positive economic indicators in recent years, boasting low unemployment and a projected 5.4 percent GDP growth for 2022.
“Newmark has made a concerted effort to grow our platform with experienced, forward-thinking groups that are at the forefront of their respective commercial real estate markets,” said Richard Bertasi, CEO of Newmark Global Corporate Services. “Alongside the team led by Valter and Péter Takács, we are well-positioned to serve a growing client base that is increasingly seeking new opportunities in Hungary and the CEE region.”