Budapest’s WING Group is reporting that it “achieved significant success in the transaction market last year,” and that WING Hungary, Bauwert AG, and ECHO Investment “closed deals worth nearly EUR 300 million, including the sale of three office buildings across three countries exceeding EUR 200 million, and a residential complex in Germany.”
“Additionally, WING reports, “the group sold over 2,500 residential units across Germany, Poland, and Hungary strengthening its financial position, and increasing its cash reserves and liquidity.”
According to the developer, key achievements included the sale of a 10,500-square-meter office building in Germany that is part of the Neue Bockbrauerei development, and the sale of the 8,500-square-meter LIV Berlin residential complex in Berlin; the sale of the 15,000-square-meter React office building in Lodz, in Poland, and; the sale of the 6,500-square-meter Honved Center office building in Budapest, in Hungary.
WING is also reporting that it “achieved outstanding results in the residential real estate market, selling more than 2 500 apartments in 2024 in the three countries, exceeding expectations.”
“The WING Group aspires to be the market leader in each of the markets in which we are present,” said Noah Steinberg, Chairman and CEO of WING, and Chairman of the Supervisory Boards of ECHO Investment and BAUWERT. “The ability of ECHO Investment, Bauwert, and Wing to successfully execute competitively priced office sales in a challenging market speaks to the professionalism of our teams and to the outstanding quality of our buildings. Our strategic focus on residential development and living based platforms underpins our long term growth strategy in all three countries, demonstrating strong results in 2024. Our involvement in commercial property including office, industrial, hotel and retail properties complement our residential activities and provide long term, sustainable results for our tenants, investors and stakeholders.”