"Austria's Europolis AG, member of the Volksbank Group, is to expand its logistics park near Budapest's Ferihegy Airport by 25,000 square metres. It will also rename the facility in Vecsés to Europolis Park Budapest Airport, which will have a total rentable area of 90,000 sqm upon the completion of the project.
Europolis said it would add 25,000 sqm to its 65,000-sqm logistics park in Vecsés.
The development is based on demand by the current tenants for additional space, as well as on rising demand for logistics functions near the Ferihegy Airport.
Europolis owns 188,540 sqm of rentable office and warehouse area in Hungary. There are five real estates in the company's Hungarian portfolio, three of them are office buildings: City Gate (24,000 sqm), the A building of Info Park (13,700 sqm), and the just expanding IP West. Besides these there are two logistic parks in the portfolio: Europolis Park Budapest M1 at Páty (presently 70,000 sqm) and Europolis Park Budapest Airport (ABP) in Vecsés (65,000 sqm).
In recent years Europolis has become one of the leading real estate companies in Central, Eastern and South-Eastern Europe. The company‘s portfolio currently includes 40 office, commercial and logistic buildings.
Europolis has a portfolio including office buildings, logistic parks and shopping centres not only in Hungary but also in Austria, the Czech Republic, Poland, Romania, Croatia, Russia and the Ukraine.
Assets under management grew to 2.3 bn in 2007 and are expected to reach 5 bn in 2012. Earnings before taxes reached EUR 104 m in 2007."
Source: Portfolio Online Financial Journal
26.06.2008