Tuesday, 4 August 2026
WING has completed the acquisition of the Olympia development project in Budapest from Atenor, adding a strategically located property complex with approximately 74,000 sqm of development potential to its portfolio.
The acquisition includes an operational Grade A office building, a structurally completed building and additional development plots located between Hungária Boulevard, Százados Road and Stróbl Alajos Street. WING intends to reposition the site into a mixed-use urban development combining residential, office, retail and community functions.
Under the current concept, the project will deliver more than 500 apartments, alongside the existing office accommodation and a range of retail and service facilities. The first phase will focus on converting the structurally completed building into more than 200 residential units, with construction expected to begin next year and completion targeted for 2028. Subsequent phases are planned to increase the total residential offering to more than 500 homes.
The residential component is expected to focus primarily on smaller apartments designed to meet growing demand from first-time buyers and young professionals seeking housing in well-connected urban locations.
Alongside the residential development, WING plans to retain the existing office building, which offers large floorplates of up to 2,500 sqm and benefits from strong public transport accessibility. The company believes combining office, residential and commercial uses will create a more active urban environment while improving the long-term attractiveness of the site.
Tibor Tatár, Head of Residential and Office Developments at WING Hungary, said the value of the acquisition lies not only in the existing assets but also in the opportunity to transform a well-located urban site into a development better aligned with current market demand. He added that the long-term objective is to create a district where residential, office and everyday services complement one another while contributing to the wider regeneration of the Százados neighbourhood.
The development plans also include improvements to the surrounding public realm. WING has committed to upgrading nearby pavements, creating additional green spaces and developing new community facilities. As part of its agreement with the local authority, the company will provide at least 300 sqm of space free of charge for public use. The municipality will determine its future function, which could include a nursery, community centre or healthcare facility.
The acquisition is consistent with WING’s strategy of investing in well-located assets with long-term value creation potential. Olympia joins a growing portfolio of Budapest developments that recently expanded through the acquisition of Capital Square, the Greenway project and the development site at 39 Váci Road, where KPMG’s future headquarters will be built.
Legal adviser to WING was Oppenheim Law Firm, while Atenor was advised by iO Partners and CMS Hungary. Financing for the acquisition of the existing office building within the project has been provided by K&H Bank.
