Skanska sells the first phase of H2Offices in Budapest to ERSTE Open-Ended Real Estate Investment Fund

Press release 9/19/2023 8:00 AM CET

Skanska has sold the first phase of its H2Offices complex in Budapest to ERSTE Open-Ended Real Estate Investment Fund, represented by ERSTE Alapkezelő Zrt. This is the third acquisition that the purchaser has made from Skanska Hungary, after acquiring Nordic Light in 2016 and Mill Park in 2018.

The first phase of H2Offices in Budapest sold_1

H2Offices is perfectly positioned in Budapest's bustling Váci Office Corridor and comprises a total leasable area of around 27,000 sq m with 299 parking spaces. The property is 74% leased to various prominent tenants; Colonnade Hungary, Cofidis Hungary, MBH Gondoskodás Fund, DBH Group, and Orbico Hungary among them. The building has already received LEED Platinum Core and Shell version 4 certification with the highest points in Hungary so far and aims to get WELL v2 Core & Shell certification and WELL Health & Safety rating. H2Offices also obtained Access4You Gold certification, which assesses the built environment and provides detailed information about how accessible the building is.

“We are delighted that our long-term trusted relationship with Erste RE Fund resulted in a successful transaction of the H2Offices project. Our partnership based on common values, and strong commitment towards ESG got enriched by another fantastic building. This transaction stands as a testimony to the interest in high-quality and sustainable real estate products, indicating a positive shift in demand on the investment market. We as Skanska are proud to be at the forefront of offering such quality and future-proof developments” – said Katarzyna Zawodna-Bijoch, President & CEO at Skanska commercial development business unit in CEE.

"We are pleased to share the successful acquisition of H2Offices, an outstanding A+ category office building located in the heart of Budapest. This further enhances the proportion of our portfolio consisting of high-quality office buildings that cater to every tenant requirement. The transaction bolsters our longstanding partnership with Skanska, an entity that shares our dedication to ESG principles. We extend our gratitude to the colleagues at the Real Estate Fund who played an indispensable role in facilitating this transaction. H2Offices not only enriches our portfolio, but also embodies our commitment to sustainable real estate investments. This acquisition represents a significant stride towards attaining our environmental, social, and governance objectives, and supports our future endeavors in this regard." - explained Balázs Pázmány FRICS, Chairman of the Board at ERSTE Alapkezelő Zrt.

Designed by Danish studio Arrow Architects, the building has an impressive mix of amenities and facilities. From green terraces to the large garden that will be created in its full size in later phases, it provides an environment conducive to relaxation and productivity. The inclusion of bike storages and electric car charging stations, the rooftop running track with breathtaking city views and water features throughout the building underline Skanska’s commitment to best answering the various needs of H2Offices residents.

"H2Offices stands at the forefront of sustainable development in Hungary. Its prime location, extensive amenities, and exceptional energy efficiency make it a living proof of our commitment to ESG principles and the wellbeing of the users of the building. This is not just an accomplishment for today; H2Offices has been created to provide exceptional value well into the future and we are extremely proud that our partners are appreciating Skanska’s future-proof approach in each and every built project” - said Aurelia Luca, Executive Vice President of Operations Hungary and Romania for Skanska's commercial development business unit.

Perfectly harmonizing the warm Scandinavian design with the heritage of the place – once the Budapest Waterworks headquarters – H2Offices hosts a great environment focused on enhancing wellbeing and productivity, where people can connect with each other and spend quality time together.

During the sales process, Skanska was advised by Colliers, Cushman & Wakefield and Dentons.



Skanska Group

Skanska Group uses knowledge & foresight to shape the way people live, work, and connect. Over 135 years in the making, we’re one of the world’s largest project development and construction companies, with 2022 revenue totaling SEK 162 billion. We operate across select markets in the Nordics, Europe and USA. Together with our customers and the collective expertise of our 28,000 teammates, we create innovative and sustainable solutions that support healthy living beyond our lifetime.

Find more details on the website: https://group.skanska.com/commercial-development


Skanska commercial development business unit in Central and Eastern Europe (CEE) 

Skanska commercial development business unit is a leading office developer in the CEE and operating in four countries: Poland, Hungary, Romania and the Czech Republic. We use knowledge & foresight to shape the way people live, work, and connect. Together with our customers, partners and the collective expertise of our teammates, we create future-proof and sustainable places and solutions that support healthy living beyond our lifetime. Our office projects are certified in the LEED, WELL Core & Shell, and WELL Health-Safety Rating systems.  

Follow Skanska on LinkedIn: www.linkedin.com/company/skanska/


ERSTE Open-Ended Real Estate Investment Fund

The primary objective of the ERSTE Open-Ended Real Estate Investment Fund is to achieve stable and favourable returns through long-term leasing. The Fund Manager primarily invests in office and commercial properties, which are utilized through long-term lease agreements with carefully selected, stable partners from the moment of acquisition. Additionally, the Fund places its assets in secure money market instruments, thus diversifying its portfolio.

ERSTE Open-Ended Real Estate Investment Fund is committed to rigorously balancing returns and risks, ensuring stable income for investors. By diversifying the portfolio, encompassing the balance between real estate and money market instruments, the Fund enhances liquidity and reduces risk.

The expert team of ERSTE Open-Ended Real Estate Investment Fund is dedicated to long-term value appreciation and sustainable returns, capitalizing on real estate market opportunities, and establishing stable, profitable relationships within the industry.



For further information please contact:


Anna Wiśniewska

Marketing and Communications Director

Skanska office unit    

Tel.: +48 797 019 460    

E-mail: Contact     


Rafał Buława

Senior Advisor

Komunikacja Plus 

Tel.: +48 601 966 922

E-mail: Contact


Last updated: 8/22/2017