GTC’s milestone Pillar building in Budapest has been launch

15 March 2022

GTC has just commissioned a new, premium-quality office building in Budapest, Hungary. The Pillar office building is an important development for the market, with the largest pre-lease contract in the history of the Hungarian office market, signed by GTC and a leading US energy company ExxonMobil, in 2019. The newest addition to the GTC Hungarian portfolio answers the visible, strong demand for modern office spaces in the country.

The Pillar building, located in the rapidly growing business quarter of the Hungarian capital, after its inauguration earlier this year is now providing up to 29,000 sq m of commercial area at a premium level. Already fully leased, the building is offering café bars, restaurants, co-working spaces, post office, playroom, relaxing garden, bike facilities, shopping experience, conference center, and most importantly, modern, premium-quality office spaces for its main tenant ExxonMobil – who signed a pre-lease contract before the building was completed. The opening puts emphasis on the importance of the Hungarian property market and only furthers its development.

I can proudly say that Pillar is becoming a landmark commercial space in Budapest and on the Hungarian market itself. This innovative, sustainable space which, even before being completed, became a house for such a prominent company as Exxon Mobil, has the potential to broaden the market and further develop our business scene

says Ede Gulyás, Country Director of GTC Hungary.

The building was designed to suit the expectations and needs of international tenants but more importantly to minimize its environmental impact. Sustainable solutions have been incorporated into the design which allows clients to enjoy the environmentally friendly product. Pillar was designed and constructed in line with LEED Platinum certification and is now part of GTC’s eco-friendly portfolio. Great attention to detail and tailor-made solutions were equally important as well as the building’s main occupier who greatly contributed to the design of the building and worked closely with GTC to ensure Pillar will be the best possible space for Exxon’s employees.

We appreciate the great and ever-growing potential of the city of Budapest and we are proud to have put yet another stamp on its dynamic and extremely promising real estate market. Hungary is an important and growing market for us, which we plan to develop further in the upcoming years

says János Gárdai, GTC’s Chief Operating Officer.

Aside from Pillar and completed in 2018 White House complex, in 2021 GTC invested over 310 million EUR in Hungary buying properties like Váci Greens D, Ericsson and Evosoft headquarters, Váci 188. The developer is also planning further projects in their current pipeline Center Point III and the Twins, which altogether will deliver over 75 000 sq m of ultra-modern office space to the Budapest real estate market.

The GTC Group is a leading real estate investor and developer focusing on Poland and capital cities in Central and Eastern Europe. During 25 years of its activity, GTC has developed 76 high standard, modern office and retail properties with a total area of over 1.3 million sq m through Central and Eastern Europe. GTC now actively manages a commercial real estate portfolio of 43 commercial buildings providing over 732 ths. sq m of lettable office and retail space in Poland, Budapest, Bucharest, Belgrade, Zagreb and Sofia. In addition, GTC has a development pipeline of 420 ths. sq m retail and office properties in capital cities of Central and Eastern Europe, 54 ths. sq m under construction.GTC S.A. is listed on the Warsaw Stock Exchange and inward listed on the Johannesburg Stock Exchange. In 2021, GTC issued its first ESG report, covering the Group’s activity across 6 CEE markets for 25 years. The report is available at www.esg.gtc.com.pl/en

Media inquiries: Julia Laptyonok, Hill+Knowlton Strategies, Julia.Laptyonok@hkstrategies.com, +48 605 121 928, Agnieszka Szczurek, Hill+Knowlton Strategies, Agnieszka.Szczurek@hkstrategies.com, +48 695 898 208