The total portfolio of CPI Property Group exceeded 20.3 billion euros in 2023. In addition, it is Hungary’s largest owner and operator of office stock, and the fourth largest player in the domestic retail market – in the shopping center business. The company currently manages 603,500 square meters of commercial real estate in Hungary. The total value of the Hungarian portfolio is 1.3 billion euros, while the utilization rate is 93 percent, they write in their press material.
The company has 328,500 square meters of office space, including buildings such as myhive Haller Gardens, Arena Corner or BudaPart Gate. Many buildings in the portfolio have reached or approached 100 percent occupancy, more than 60 lease contracts were signed for an area of 54,000 square meters in 2023, highlights CPI Hungary.
Shopping centers and luxury hotels in the portfolio
In addition to the office buildings, the company welcomes 65 million visitors a year on 275,000 square meters, in shopping centers and shopping parks such as Europeum, Pólus, Campona and Stop Shop. Furthermore, among the hotels, the Mamaison Andrássy Hotel, the Courtyard Marriott and the Marriott Budapest also fall under their umbrella.
CPI was active in corporate acquisitions
Three real estate companies with different corporate cultures were merged into a unified asset management system, during which the strengths of the two participating companies – Immofinanz and S IMMO – were retained, it is enough to mention only the myhive office brand.
It is emphasized that in the current changing economic environment, individual assets are affected differently by current trends and indicators. Thus, the hotel industry is experiencing a boom, the office market is constantly adapting to new trends, while the shopping center business is struggling with well-known challenges. In other words, integrated corporate management is coupled with a diversified portfolio, which means unique approaches for management.
The company’s competitiveness is ensured by integrated asset and real estate management and a modern energy strategy. And in-house services have long-term tenant retention power. They promote fast reaction times for dealing with tenants’ problems, as well as efficient and flexible building management solutions that result in high utilization rates, they write.
To strive for sustainability as a large company
As the owner and operator of Hungary’s largest office portfolio, CPI actively supports the shaping of the ESG (Environmental, Social, Governance) approach of the entire sector. The company was the first in Hungary to set up an ESG strategy on the real estate market, and was the first to offer its tenants a “Sustainability Agreement”, commonly known as a green lease. Based on these, it holds sustainability forums twice a year to familiarize tenants with environmentally conscious cooperation opportunities, and together effectively reduce the negative effects of real estate and rental properties on the environment. In addition, CPI provides its electricity needs from regional renewable energy sources with a guarantee of origin – the announcement concludes.
