Property Market’s first investment, BudaPart, will bring to life a unique neighbourhood that will create the tranquillity of nature and the 21st century, modern urban lifestyle for its residents, employees and visitors. The building concept was developed by Property Market with the Danish design agency ADEPT, which will lead to the development of 15 residential and 13 office buildings, as well as an approximately 180-room hotel over a ten-year investment.
In the near future, we expect to establish nearly 3,000 apartments, 250,000 m2 of office space and approximately 15,000 m2 of retail space where 25-30,000 city dwellers can live and work soon.
The first project of the company is BudaPart, the largest real estate development in the modern era in Budapest, momentuous in volume even by international standards. It aims to create a unique, 21st-century neighbourhood on the banks of Lágymányosi Bay, covering an area of about 54 hectares. By the end of the development project, almost half of BudaPart, 26 hectares will remain a green area, incorporating one of the largest public parks in Budapest, the Kopaszi Dam, too. The investment zone, however, stretches even further, as a number of utilities and transport infrastructure developments will also be implemented in conjunction with it, which will fall on public land surrounding the neighbourhood.
The project is also exemplary in that from the very beginning, special attention was paid to creating a value- and crisis-resistant neighbourhood from both a business, and architectural, as well as community point of view. Property Market will apply this approach similarly in future projects. The developer and their project have so far been awarded 8 prestigious international and 6 domestic real estate market awards, including the Best Developer of the Year and Best Building Concept awards. In addition, the Market-group stands as a guarantee behind the developer’s real estate development projects and assists in obtaining business, while Property Market helps the parent company to enter new markets.
During the approximately ten-year project, which will be implemented in a maximum of six phases, a total of 15 residential and 13 office buildings, as well as a hotel can be developed. This is expected to create nearly 3,000 apartments, 250,000 square meters of office space and around 15,000 square meters of retail space, providing residence and employment for 25-30,000 city dwellers in the near future. Out of the five buildings (four residential and one office) completed so far, one office and two residential buildings were delivered this year. Besides, the BudaPart Homes 'E' residential and BudaPart CITY office buildings are continuing to be developed, both of which will be handed over in 2021 and this year will also see the launch of BudaPart Homes 'F', the sixth residential project of the project. Property Market’s sales team sold more than 700 homes by 2020, and nearly 600 homes have actually been handed over to their owners already. BudaPart GATE is almost fully occupied, with most of the Tenants already moved in. The next office building, BudaPart CITY will be welcoming its first Tenant, Bayer Hungária, in the summer of 2021.
Built in the neighbourhood of Kopaszi Dam, BudaPart is more than a residential and office building development: shops are being established on the street level of the buildings, so the services and recreational facilities are constantly expanding. Restaurants, cafes, fitness centres, banking service, supermarket, pharmacy, kindergartens, and medical clinics are also located in the district in South Buda, along with dog running sites, tartan running tracks, sports fields, playgrounds, and sunbathing areas, so residents and visitors can enjoy a wide range of activities.
In September, we delivered the first residential building, BudaPart Homes ‘A’, and in October, the owners were able to take over the second apartments of the project, BudaPart Homes ‘C’, which is close to the bay.
The investment is ongoing, so in 2020, two additional residential buildings, BudaPart Homes 'B', and 'D' and the first office building of the quarter, BudaPart GATE opened. As part of the project, the BudaPart Homes ‘E’ residential building and the BudaPart CITY office building has handed over this year.
* The images are for illustration purposes only and not for standard technical content. Changes reserved by the developer.