"Raiffeissen Group subsidiary Raiffeissen Evolution Project Development Kft launched its fall season with the completion of another 7,320sqm, eight floor office building, the Rumbach Center, in the downtown area of Budapest.The project’s value is E18m ($25m), the company said. According to the developer, tradition and high technological standards were the guiding principles during the renewal of the building, located on Rumbach Sebestyén utca, within walking distance of the city’s most important traffic hub, Deák tér.In designing the projects, RE Project Development retained the exterior, but opted to completely refurbish the building.
Ventilation, air conditioning, and elevators have been changed, in order to enlarge capacity and provide better services to tenants. Refurbishment also aimed to meet the market expectations in terms of environmental energy management.
“The 14-year-old building was demolished up to the frame, in order to maximize utilization of the space and offer a state of the art modern infrastructure for the new tenant base,” RE said.
The building can be easily reached by car, and its self-parking garage should ease some of the parking problems in the inner city.
The building, formed by conventional architectural solutions and divided into two wings, with the terraces of the upper levels offers a great view on the hills on the Buda side, and of the dome of the Szent István basilica on the Pest side. Rental fees will range from E14.5-E15.5/sqm/m.
Teamwork in focus
RE’s managing director Rudolf Riedl emphasized that RE’s strength lay in investing in human resources.
“RE stands for the development of the future in the real estate market: dealing with trends, putting the future user’s needs first and thus finding innovative solutions. This very strategy features those added values that have been implemented in the Rumbach Center project as well,” Riedl explained."
Source: Budapest Sun
18.09.2008