International Real Estate Giant Enters the Hungarian Market

The NUMA Group, one of Europe's leading digital tourism operators, has announced its entry into the Hungarian market with the opening of its first innovative 170-unit property in the heart of Budapest, further strengthening its presence in the Central and Eastern European region.

The project is a partnership with GTC, a leading investor and developer in the Central and South East European real estate market, and is the company's first real estate investment in tourism. The new property is located in Erzsébetváros, the vibrant District 7 of Budapest. Following five properties in Prague and three in Vienna, the Budapest investment marks another milestone in NUMA's Central European success story, according to the press release issued.

NUMA's Budapest development will be housed in a 19th century building, which will be fully renovated to combine a historic ambience with modern design and NUMA's own innovative technology. The joint work of the company and GTC reflects their commitment to sustainable urban development. By transforming the building, NUMA emphasizes the importance of sustainable use of existing properties, while reducing environmental impact and contributing to the preservation of Budapest's built heritage.

Erzsébetváros is one of Budapest's most vibrant neighborhoods, attracting visitors with its historical richness and modern elegance. This new property fits perfectly into NUMA's mission to make its guests feel like locals. The famous rum bars, unique designer shops, unique streetscape and diverse gastronomic offerings all contribute to this authentic experience.

"This cooperation is our first investment in the tourism property market, further expanding our property portfolio," GTC CEO Gyula Nagy said. “By entering the tourism market, we are responding to evolving market needs while strengthening our investments with high yielding, flexible assets. This partnership creates an opportunity to combine our real estate development experience with NUMA's proven excellence in property management expertise and technology-based solutions," he added.

"Budapest is one of Europe's tourism gems, attracting a significant share of Hungary's international visitors and ranking among the top 15 most popular destinations on the continent," Dimitri Chandogin, President and Co-Founder of NUMA Group, said explaining the company's choice. “Nearly 60% of tourists visiting the country visit the city, which is a key location for NUMA's European expansion. With this new location, we have the opportunity to showcase how our digital approach can enhance the guest experience while preserving the city's unique, historic character," he stated.