Seems like you hear a lot about the potential for shared service centers coming to Central Europe, but not so much action. So finally, some action. Kinetic Concepts Inc has announced it’s picked Budapest for a facility that will employ 50 people initially, and a further 50 in 2011. Hundreds are to be employed eventually, and the WSJ reports it’s taken out a lease of 2,400 sqm.
We’re hearing reports that they’ve chosen the Capital Square building and that Colliers was involved on the tenant side, but nothing definite yet.
Interesting that we were just speaking with a regional MD (not based in Hungary) who said Budapest should start seeing a significant revival in leasing, and transactions activity.