in Every Sense

SZERVITA SQUARE BUILDING PREMIUM IN EVERY SENSE

The most anticipated downtown development in Budapest is undoubtedly Szervita Square Building, awarded with multiple professional acknowledgements already at the concept phase.

From location, architectural concept and interior design solutions to overall technical quality, sustainability, tenant mix, service range, professional partnerships and commercial activities, it communicates prestige and premium quality all around.

GREAT DESIGN The architectural concept has been formulated for years before it reached its refined, final shape presented now. The ongoing knowledge-sharing and exchange of ideas between co-designers Hungarian DVM group and Finta Studio, as well as Milan-based Metrogramma Architecture Studio made the design process both a mutually rewarding international cooperation and a clear success. As Attila Kovács MRICS, managing partner of Horizon Development pointed out: “Building in the historic downtown area of our capital is a great privilege, but is also comes with great responsibility. The reason why we dedicated this much time and energy to planning Szervita Square Building right is because the architectural legacy we will leave in Budapest’s 5th district ultimately shapes the urban fabric in the medium and long-run.”

COMPLEX CONSTRUCTION The project is currently in the substructural stage with the slurry walls and base slab already in place, and the underground levels under construction, using two safely secured giant cranes. Balázs Czár managing partner talked about the logistical challenges of building in downtown Budapest: “The scarcity of loading/unloading opportunities, traffic limitations, noise considerations and all challenges that come with going 18 meters below ground and 30 meters above ground all need to be taken into account when we launch a project at such a central location. With relevant previous experience gained at our similarly located Eiffel Palace and Váci 1 developments, we are well-prepared for all challenges we might encounter during the construction process. With a fast approaching completion date of December 2020, all of our construction efforts need to be perfectly coordinated and carried out with maximum efficiency.”

SUCCESSFUL LEASING & SALES The 7-story development of a mixed-use function will feature office, retail and luxury residential spaces on a total of 12,500 sqm, complete with 5 underground floors accommodating private and public parking, and a vibrant social space with outside seating options and various services. Leasing activities for the office and retail areas are hallmarked by a major pre-lease contract for the entire available office area (8,500 sqm spreading out on 5 consecutive floors), as well as advanced ongoing negotiations for the remaining retail spaces. The retail mix will consist of a café and other functions to be revealed at a later stage. All retailers setting up their new unit in Szervita Square Building will greatly benefit from the exclusive location, high footfall numbers and first-rate tenancy, as well as the overall exclusivity of the property. The luxury residential sales process is also well under way, with a Bentley Home-themed sales office featuring the finest furniture-line of the sophisticated British automobile company. It is the most adequate setting to introduce the only residences in Europe with the ‘Furnished by Bentley Home’ brand to their future owners.

SOCIAL CONTRIBUTION Concluding the project with an overall development, commercial and financial success is an obvious goal for any developer, but Horizon Development aspires to achieve even more. After demolishing the previous 70’s structure that had overtowered the entire neighborhood, the developer decided to give back to the community by reducing the size of the new development and creating a larger public square. The park in front of the building will serve as a much-needed social space for the general public, contributing to Szervita Square becoming a downtown meeting point and community hub.