BudaPart DOWNTOWN: BudaPart expands by adding a mixed function hotel and office building

The largest real estate development in the modern-day history of the capital has reached a significant milestone: the construction of yet another building on BudaPart kicked off in January. BudaPart DOWNTOWN is part of the fourth phase of the project, and functions as a hotel and office building. The Radisson Hotel Budapest BudaPart will be operated by the international hotel chain Radisson Hotel Group. Highlighted as the first Radisson branded property in Hungary, the full-service hotel will deliver Scandinavian-inspired hospitality, which enables guests to focus on a work-life balance and find harmony in their travel experience.

The office building section of the building, integrating innovative and environmentally friendly building solutions, will offer nearly 8,000 square meters of office space and 350 square meters of retail space over seven floors, as well as two underground garage levels, a ground floor and a mezzanine level. BudaPart DOWNTOWN is built observing the requirements of the highest sustainability and certification systems. It’s been designed with the aim to minimize the building's energy and water demand, using multiple technical building solutions, and focusing on renewable, green energy usage. The building is the third of 13 office buildings to be completed at BudaPart. Market Építő Zrt., the general contractor of the neighbourhood has already launched the construction, with the complex expected to be fully completed by 2023.

The unique appearance of BudaPart DOWNTOWN, which bears the hallmarks of the KÖZTI architectural firm, houses the newest, compelling business hotel of the Radisson brand, with a Skybar on the top floor in the plans. The Radisson Hotel Budapest BudaPart, which will cover more than 11,000 square meters, will have 198 rooms, 174 of which are standard and 24 are superior. It will also feature a restaurant for 175 people, conference rooms and a fitness room.

The mixed-function building further strengthens BudaPart's efforts to become one of the most significant players in the Budapest office market as a sub-market called the "Buda Business District" along with adjacent office buildings. The building will serve both as an office building and a hotel, and will also become a business, conference and event center thanks to its additional services. All this greatly helps the BudaPart Tenants to organize their discussions, important meetings and corporate events in one place, moreover, the accommodation of their business partners can be seamlessly provided locally, too. It is also important that the employees of the office building and the hotel guests can enjoy the constantly expanding services of the neighbourhood, the benefits of the unique location, the green environment and the waterfront recreation opportunities, without having to leave BudaPart.

“Our BudaPart project is moving forward with full steam, no work will be suspended, we are sticking to our schedules in implementing the developments we had planned. Our products constantly prove themselves, this is why we are already at the fourth stage and at almost a third of the total investment. We are committed to uphold BudaPart as one of the major office districts in the capital, and I am very pleased that our development project has grown to enter the hotel market, further contributing to our business partners’ convenience. Through the agreement concluded with Radisson Hotel Group, we can further elevate the standards of the neighbourhood and expand by integrating yet another decisive service into BudaPart's portfolio” said Dr. Mihály Schrancz, Managing Director of Property Market.

David Jenkins, Vice President Business Development for East Europe area at Radisson Hotel Group, said: “We are extremely proud to introduce the first Radisson branded hotel in one of Europe's most exciting capitals and within what is an extensive development on the Buda side of the city. The new signing will complement our existing portfolio of five hotels (998 rooms) in operation and under development in Hungary and will be our fourth hotel in Budapest. We're optimistic that 2021 will see continued recovery in the tourism sector and we look forward to further expanding our footprint in Central Eastern Europe.”

In addition to the Radisson Hotels in Budapest, Sárvár and Zalakaros, the group is also currently developing the Radisson Collection Basilica, Budapest. The historic landmark property is scheduled to open in late 2021.