Rental Successes at Capital Square in Budapest

Essen, Germany, November 30, 2008 --(PR.com)-- HOCHTIEF Development Hungary, the Hungarian subsidiary of HOCHTIEF Projektentwicklung, has found more tenants for Capital Square. The Hungarian electricity provider Budapesti Elektromos Müvek Nyrt (ELMŰ) signed up for almost 4,000 square meters of space. On another 1,500 square meters, the first office services center of FirstClients, a newly founded company providing office services, will be opened on April 1, 2009. CA Immo International had bought the office project at a price of EUR 71 million before the start of the construction works.

Capital Square is being built on the Váci út and Dráva utca streets, Budapest's most significant office location. The complex comprises three separate buildings which are connected by means of centrally located core sections and feature landscaped inner courtyards. Under a two-phase time schedule, a total of 32,500 square meters of gross floor space will be created until March and August 2009, respectively, including 1,300 square meters for offices, retail and services on the ground floor. The space can be divided flexibly into rental units of between 250 and 4,500 square meters. Various addresses are possible. The office buildings at Capital Square will be equipped with state-of-the-art solar and noise protection technology. Roof terraces and a three-story underground car park with 640 parking lots and a car wash facility round out the offer.

HOCHTIEF Projektentwicklung has been developing, realizing and marketing real estate projects in Germany and abroad since 1991. The company concentrates on office premises, hotel and special-purpose properties in downtown locations and areas within easy reach of city centers. In these segments, it is considered Germany's leading inner-city developer. New product market segments are retail properties, distribution centers and nursing care facilities. Another focus is on the development of urban quarters. The company always sets itself the goal of selling the properties it develops to a final investor as swiftly as possible. It does not seek to build up any property portfolio of its own. Further information is available at www.hochtief-projectdevelopment.com.

HOCHTIEF Development Hungary is the Hungarian subsidiary of HOCHTIEF Projektentwicklung. The company was founded in 2005 under the name HTP Hungária Kft. Its focus is on high-quality office properties that meet out-of-the-ordinary requirements. In addition, the company operates in the product segments retail, logistics and hotels. HOCHTIEF Development Hungary sees itself as a sustainability-minded company making an important contribution to urban development.

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