Skanska Divests Second Phase of H2Offices in Budapest for EUR 98M

Skanska has divested the second phase of the H2Offices office complex in Budapest, Hungary, for EUR 98 million, about SEK 1.1 billion. ERSTE Open-Ended Real Estate Investment Fund, represented by ERSTE Alapkezelő Zrt., is acquiring the property.

Skanska Commercial Development Europe will record the transaction in the third quarter of 2026. Meanwhile, the property transfer is scheduled for the fourth quarter of 2027.

Second Phase Secures Long-Term Tenant

The second phase of H2Offices will provide approximately 22,000 square meters of leasable office space. A global company has already leased the entire building under a 10-year lease agreement.

Construction is currently underway, with completion scheduled for the first quarter of 2027. The development will expand the H2Offices complex while adding modern office space to one of Budapest’s key business districts.

Energy-Efficient Office Development

H2Offices is a three-building office complex located in Budapest’s Váci Office Corridor, one of the city’s major business locations.

The project incorporates several energy-efficient technologies. These include highly efficient building systems, four-season heat pumps and rooftop photovoltaic panels. The development also targets low primary energy demand.

Furthermore, the second phase is targeting LEED Platinum, WELL Platinum and Access4You Gold certifications. These standards reflect the project’s focus on energy performance, occupant wellbeing and accessibility.

H2Offices to Expand to 67,000 Square Meters

Once fully completed, H2Offices will provide approximately 67,000 square meters of modern office space across three buildings.

The complex also features a landscaped environment designed to complement the office development. Located within one of Budapest’s busiest business areas, H2Offices combines office accommodation with energy-efficient building solutions and long-term sustainability targets.