Hungary to Be a Bridge between East and West at Munich Fair

Hungary will present itself as a bridge between East and West, as the main meeting point for Western and Eastern investments and developments at EXPO REAL, one of the world's most prestigious real estate development trade fairs, between October 7-9 in Munich, the National Investment Promotion Agency (HIPA) and the Real Estate Developers Round Table Association (IFK) told MTI.

According to the statement, the Hungary stand at the exhibition, where more than 2,000 exhibitors and nearly 40,000 decision-makers from 75 countries will be present, will focus on expanding industrial and logistics real estate developments, but major Hungarian real estate developers will also showcase their residential, hotel and office portfolios.

As in previous years, the Hungary stand has been organized by the Real Estate Developers Roundtable Association (IFK) with the professional support of the National Investment Promotion Agency (HIPA) and CBRE, the world's leading real estate consultancy, they said.

The two main exhibitors are HelloParks (part of the Futureal group) and Infogroup (developer and owner of IGParks), now operating under the name Innovinia, but there will also be INPARK, a state-owned player in the industrial property market with a national network, ATENOR, Biggeorge Property, and GLP Hungary. Among the regional cities, this year Debrecen, Kaposvár and Pécs will present their flagship projects.

István Joó, CEO of HIPA and government commissioner for investment promotion and the implementation of priority large-scale investments in Hungary at the Ministry of Foreign Affairs and Trade, was of the view in a statement that Hungarian investment promotion is at its peak, with Hungarian investment promotion having closed another successful six months after last year's record level of over EUR 13 billion in working capital investments (FDI).

In the first half of the year, 50 positive decisions were taken on investments worth more than EUR 3 billion. In addition, 209 projects were decided upon in Hungary last year, and the number of jobs created (19,692) also showed a significant increase of 30%, he said.

The total modern industrial real estate area in Hungary exceeded 5.14 million square meters by the end of the year, of which more than 3.5 million are located in the capital's environs.