Skanska sells second phase of Budapest office project H2Offices to ERSTE for €98 million

Skanska has agreed to sell the second phase of its H2Offices development in Budapest, Hungary, to ERSTE Open-Ended Real Estate Investment Fund for €98 million, equivalent to approximately SEK 1.1 billion. The transaction will be recorded by Skanska Commercial Development Europe in the third quarter of 2026, with the property transfer scheduled for the fourth quarter of 2027.

The second phase of H2Offices will provide approximately 22,000 square metres of leasable office space. The entire building has been fully leased to a global company under a 10-year agreement. Construction is underway and is expected to be completed in the first quarter of 2027.

H2Offices is a three-building office complex located in Budapest's Váci Office Corridor, a key business district. Upon full development, the project will offer a total of approximately 67,000 square metres of modern office space.

The development focuses on energy efficiency, targeting LEED Platinum, WELL Platinum, and Access4You Gold certifications. It will incorporate energy-efficient systems, heat pumps, and rooftop solar panels.