Budapest, 21st  July 2008   

New areas have been leased out in Arena Corner office building developed by Raiffeisen Ingatlan Zrt. Following the lease of the service centre of Citibank and Vodafone operation centre, the asset manager of the building’s owner, Orco Property Group has signed a contract with an other major tenant. This time the tenant is one of the largest financial company in Hungary Raiffeisen Bank Zrt.. The bank  leased close to 8.500 square metres of office space. 

The occupancy rate of the building has nearly reached 80 – 90 % expected for summer 2008, one year after the hand-over. The satisfaction and pride of the building’s developer and owners was increased by the fact that Arena Corner was pointed out in the justification of the Ybl-prize awarded to architect  István Lukács.

“We have ongoing negotiations regarding the approximately 3.000-4.000 square metres of space still available on the ground and higher floors of the building. The negotiations of the restaurant-cafeteria of nearly 800 square metres and two smaller tenants have also been closed; they will soon move in and start working.” – said Tibor Vajda associate director of Colliers International, coordinating the leasing process.

Raiffeisen Bank Zrt. started the search one year ago in July 2007. The aim was to supplement its centres in the 5th and 15th districts which proved to be too small. They targeted buildings from the existing supply on the Váci út corridor and Hungária körút. Both location has fast and easy access by public transport as well as by car from the existing centres in the city and another site in Késmárk utca. In addition to looking for a building of high technical specification, the possibility of creating open offices for more dense furnishing for back office purpose and cellular offices for management was also an important factor for the tenant. The building chosen also had to provide sufficient parking opportunities.

The winner of the tender is Arena Corner located ideally on the corner of Hungária körút and Kerepesi út. It proved to be competitive not only in terms of location but in the quality of space as well as the standards of the technical specification.