On October 14, 2021, VGP announced that it has entered the Budapest market by purchasing a 38 hectares development site in Ullo, adjacent to the Budapest International Airport Liszt Ferenc.
According to the company, the development potential is approximately 125,000 square meters. The new park is called VGP Park Budapest Aerozone and consists of three buildings with surfaces between 30,000 and 60,000 square meters. Construction of the first building is scheduled to start this year.
“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,” said VGP Hungary Country Manager Karoly Palovics. “The city is also an attractive location for our customers and new businesses due to its vast student population of some 400,000 attending the capital’s 18 universities and business schools. 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.”
VGP Hungary Business Development Director Laszlo Balogh added: “Due to its prime location directly adjacent to the international airport and with direct connections into the city center as well as into the various regions across the country we believe this new park will appeal to both e-commerce and logistics companies as well as to light industrial and manufacturing companies in need of a versatile and highly educated workforce.”