News from the Hungarian Economy

The Netherland based Raben Group entered the Hungarian market due to the acquisition of business and operational activities of one of Hungarian logistics companies formerly known as Delacher. Raben Group's strategy is to achieve a leadership position in Central & Eastern Europe (CEE) and Hungary is an integral part of this region. The decision to take over business activities of the local company was also supported by the changes they have experienced in nowadays economies on one hand, and on the other, by an on-going consolidation of the European logistics market. Another reason why Raben Group has decided to enter the Hungarian market is the fact that the customers of Raben companies have required it strongly and transport of consignments to and from Hungary has been in continuously growing demand. Raben Logistics Hungary has branches in 3 cities: Budapest, Debrecen and Győr. They offer comprehensive logistics service, warehousing, international, national distribution, sea and air transport under own brand.

ING Real Estate Development has sold a stake in a Hungarian shopping centre for 100 million Euros to the property arm of Allianz of Germany, the two companies announced on 13th of January. ING is selling 50 percent and retaining the other half of the fully-leased shopping centre “Allee” in Budapest. ING is also remaining responsible for day-to-day management.The centre, which opened last November, has 47,000 square metres of shop space and 7,000 square metres of office space.