TóPARK, the Monaco of Central Europe
The Walker and Williams Investment Group (WWIG) has become widely known in the past few years, primarily in connection with TóPARK, a sophisticated city centre project which is the most significant development in Central Europe. TóPARK, built on 180 hectares at the western edge of Budapest, is one of the few developments in the region which are well positioned for success even in this time of crisis. Both construction and leasing are carrying on without interruption, and the project has drawn considerable professional recognition from the beginning. In the 13 years it will take to complete the project, 1.2 million square meters of leasable area will be built at a cost of EUR 2.4 billion. The initial stage will be handed over in October 2010.
WWIG is a privately owned real estate investment group backed by high net worth, high credit quality shareholders. Its activities include developing, leasing and selling real estate development projects as well as putting together successful real estate portfolios for investors.
The group concentrates on independent urban and city centre projects with budgets exceeding one billion euros, such as WWIG’s biggest current development, the TóPARK city centre in Hungary.
The project is being built in the most dynamically developing part of Hungary, the suburbs immediately west of Budapest, an area bounded by three motorways. This region of exceptional economic potential has not yet had any adequately high-quality, affordably priced real estate products to satisfy market demand. TóPARK is therefore considered a strategic product that will satisfy this claim.
This complex project includes an office park, the region’s largest shopping mall, an EXPO exhibition centre that will serve as a venue for international exhibitions, flats to let, the longest covered pedestrian street in Europe, a recreation and rehabilitation centre, an outdoor and indoor sports complex, and an educational and activity centre. Unlike traditional office park developments, TóPARK offers a complete living space. A new city centre is being built where all of the services are close at hand: eating, shopping, entertainment and taking care of everyday business can all be done within arm’s reach of workplaces.
All of this is being built on the shore of a 40-hectare lake in a green environment, crafted on a human scale and close to nature.
The cornerstone of the project is the development of the transport infrastructure. An intermodal hub is being built at TóPARK to provide transport for the 40,000 people who will be living and working there. The hub will provide rail and bus transport and a park-and-ride car park for several thousand cars.
Like all of WWIG’s developments, TóPARK is characterised by environmental awareness. The developer is making every effort to use renewable energy sources with the intention of reducing hazardous emissions. Water will be used efficiently and recycled. The project includes a large-scale tree-planting programme, and electrically operated vehicles will play a large role in internal transport. TóPARK is planned to be fully supplied by renewable energy by 2030. WWIG would like to establish this environmentally conscious investor’s mentality as a norm in Hungary.
The diversity offered by TóPARK will contribute to the urban development of Budapest by repositioning the entire metropolitan area.
The first stage of the project is currently in the structural engineering phase and will be handed over in October 2010. The entire project will be finished in 2020 and will create a new product in the region.
Real estate developers have recognised the uniqueness of the project from its very beginning, and TóPARK has continued to gather accolades from the profession. For example, it recently won the CNBC Arabiya International Property Award in the Best Mixed Use Development category.
‘We create value, develop culture and protect the environment.’
(WWIG mission statement)
Contact details:
Zsolt Berta, chariman, board of directors
Péter Takács, director of sales
Walker and Williams Investment Group Hungary Zrt.
H-1012 Márvány u. 18., Budapest, Hungary
Phone: +36 1 225 03 98
E-mail: info@wwig.hu
Web: www.wwig.hu
TóPARK Sales and Information Center
H-1051 Roosevelt tér 7/8., Budapest, Hungary
Phone: +36 1 345 23 23
Fax: +36 1 354 23 29
E-mail: sales@topark.eu
Web: www.topark.eu
