VGP enters Budapest with major land acquisition

European logistics specialist VGP has entered the Budapest market by purchasing a 154,000 m2 development site at the strategic location of Üllo, adjacent to Budapest International Airport Liszt Ferenc.

VGP plans to develop its VGP Park Budapest Aerozone on the site, which is expected to consist of three buildings of around 30,000-60,000 m2. All the buildings in VGP Park Budapest Aerozone will have at least BREEAM “Very Good” certification.

Construction of the first asset will start during 2021.

Karoly Palovics, country manager VGP Hungary said: 'For VGP, as a pan-European operator of business parks, we are very excited about our first park in Budapest, one of the largest cities in the European Union, with a population of around 3.3 million in the wider metropolitan area. Today, Budapest is growing rapidly thanks to the capital’s thriving economy and we look forward to be able to contribute to this growth by supporting businesses in offering state-of-the-art buildings and logistics solutions at our new park.'

László Balogh, business development director VGP Hungary said: 'Due to its prime location directly adjacent to the international airport and with direct connections into the city centre as well as into the various regions across the country we believe this new park will appeal to both ecommerce and logistics companies as well as to light industrial and manufacturing companies in need of a versatile and highly educated work force.'

VGP has a portfolio of 120,000 m2 in Hungary strongly connected to the automotive industry in existing VGP parks such as Gyor and Kecskemét.

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