Name of President or Managing Director for the region
NOAH M. STEINBERG
President or Managing Director for the region profile
Noah Steinberg is the chairman and chief executive officer of WING and the chairman of the supervisory board of Echo Investment. WING is a leading real estate developer and one of the largest privately held real estate companies in Hungary. Noah Steinberg has worked in Hungary since 1990. In his current position since 1999, he was responsible for establishing WING and oversees the company's investment and development businesses, its office, retail, industrial, hotel and residential projects.
Regions active in (in which countries the company operates)
Hungary and Poland
Portfolio of all properties currently held by your company
6 office buildings
4 industrial projects
3 shopping centers
7 residential projects
3 hotels
Office projects included in the portfolio
Telekom HQ, Szerémi Office Building; Liget Center and Auditorium; Honvéd Center; Máriássy House; A66; Hungaria Office Park
The value of office properties held by investor (in EUR)
-
Retail projects included in the portfolio
GOBUDA Mall, Agria Park; Family Center
The value of retail properties held by investor (in EUR)
-
Warehouse projects included in the portfolio
East Gate Business Park; East Gate Pro Business Park, Wizz Air Training Center, Airport City Business Park
The value of warehouse properties held by investor (in EUR)
-
The largest purchase transactions between October 2020 and June 2022 (subject of the transaction, its total take up area and value in EUR)
In January 2022 WING purchased Airport City Logistics Park, in the close vicinity of Budapest's International Airport and including about 44,000 sqm of modern warehouse buildings and 8,000 sqm of office area. In line with its premium quality the transaction was carried out at a 5.6% yield, which is the lowest ever in the Hungarian industrial property market.
All transactions:2020 sale of evosoft and Ericsson headquarters and NEO Property Services FM, 2021 sale of Terraliget, 2022 purchase of AC
Future plans
In terms of the future, WING will be primarily focusing on strengthening its leading market position in Poland and Hungary. Both countries have remained very attractive from the real estate perspective.
Offices have always been at the core of the WING Group's development activities, and WING continues to believe in the sector and will continue with the projects that have been prepared, the Liberty mixed office-hotel project, the new RTL HQ and HOP Passage. In the residential property segment WING has four ongoing developments under the LIVING brand: Kassák Passage and Kassák Terrace, Park West and Le Jardin. As far as retail segment is concerned, the company recently launched the GOBUDA Mall. And in the hotel market, WING also has several hotel projects under preparation. WING has warehouse developments currently under construction in East Gate Pro (20,000 sqm) and the new acquisition, Airport City Business Park (6,000 sqm) and further developments are planned.
Why the company deserves the award (in a paragraph you can describe the specific achievements of the company)
In Hungary WING is present in every sector - office, retail, industrial, hotel and residential – with a proven track record. As a trustworthy developer, its buildings meet the highest international quality standards. The company has a stable financial background as well as an extensive project pipeline. In recent years, WING has established a market leading position developing BTS (build-to-suit) high quality offices for leading companies. WING is an active investor and was also the first property company in Hungary to issue a corporate bond.
