Construction completion is set for Q1 2027. Credit: Skanska Group/Cision.

Skanska has announced an investment of €76m ($79.85m) in the second phase of the H₂Offices project, an office complex in Budapest, Hungary.

This investment in the three-phase office complex underscores the company’s commitment to sustainable development within the city’s Váci Office Corridor.

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The new eight-storey building will offer approximately 22,200m² of gross leasable area and is designed to foster a connection with nature and promote environmental consciousness.

Its location is close to a public transportation hub and is just a five-minute car ride from the city centre.

The building is expected to achieve multiple certifications, reflecting its sustainable and innovative design.

The certifications anticipated for the office building include WELL Core & Shell, Leadership in Energy and Environmental Design Core & Shell version 4, Access4You, WiredScore, and SmartScore.

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Construction by FITOUT ZRT is scheduled to commence in the fourth quarter (Q4) of 2024 and conclude in Q1 2027.

The initial phase of the H₂Offices complex was completed at the end of 2022 and subsequently sold to ERSTE Open-Ended Real Estate Investment Fund in Q3 2023.

This phase, with a gross leasable area of 27,000m², has attracted tenants such as Albemarle, Cofidis, Collonade, Orbico, MBH Gondoskodás Fund, and others.

Prior to this development, Skanska announced a €24m investment in a sustainable residential development in Helsinki, Finland. The project includes three buildings with 57 apartments and a parking hall.