TriGranit celebrates 20 years of business activity this year. The company has realized more than 50 projects of the total space amounting to 2 million sq. m in 7 countries and it was awarded over 50 prestigious prizes.
This year TriGranit is to start its first investment in Hungary since 2011. It will be Millennium Gardens, that is a new office of the total leasable space amounting to 37 000 sq. m, which will be open in 2019. Although TriGranit is and has always been a Central European player, I am glad that, after many years of silence, we started our next office investment in Budapest on the 20th anniversary of business activity of TriGranit. It is evidence of incredible strength and activity of the Hungarian real estate market, on which the investments reached a record-breaking value of 1.7 billion euro in 2016 – says Árpád Török, Director of TriGranit.
The company plans to start a realization of the eighth building of the Bonarka for Business (B4B) office complex in Krakow in 2017. It will be building H, which is to offer 10 000 sq. m.
Additionally, the company plans to start the second phase of Lakeside Park in Bratislava in Slovakia. It will be a 11-floor building of the size amounting to 13 000 sq. m.
Summing-up of the previous year
The company achieved the greatest successes in the previous year in Poland and Hungary, where two transactions were finalized. One of them was sales of Millennium Towers in Budapest for 175 million euro. It was the biggest transaction in the history of the Hungarian office market. Similarly, sales of Bonarka City Center in Krakow for 361 million euro was the biggest transaction concerning single element of assets on the Polish real estate market in 2016.
TriGranit – 20 years of business activity
In the first ten years of business activity, TriGranit was mainly concentrated on postindustrial areas and districts which do not require revitalization. Thanks to their realizations, the company opened new city centers in these places. The first such investment on postindustrial areas was WestEnd City Center in Budapest. The company used its experience in other countries: Slovakia, Poland and Croatia while building Polus City Center in Slovakia in 2000, Silesia City Center in Katowice in 2005 and Bonarka City Center in Krakow in 2009. Multifunctional buildings have become the main branch of investment activity of TriGranit since then. The company changed the strategy in the years 2008-2009 and it began to concentrate on building of shopping malls and office complexes class A to a higher degree. Thanks to a contract with an international investor – TPG – in 2015, TriGranit became a strong European player on the real estate market. TriGranit used to realize investments and manage properties in the past, however, thanks to TPG, the company currently specializes not only on construction investments but also on purchase of operational assets and sales of buildings.