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FINANCIAL | Real Estate / Commercial Property Management
strabag-pfs.com

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Founded Year

1996

Stage

Acquired | Acquired

About NEO Property Services

NEO Property Services provides real estate management, technical and infrastructure facility management.

NEO Property Services Headquarter Location

Hohenzollernring 56

Munster, 48145,

Germany

+49 69 13029-0

Latest NEO Property Services News

Wing acquires, renames Strabag PFS

May 2, 2019

MTI – Econews  Thursday, May 2, 2019, 12:00 Leading Hungarian-owned property developer Wing Zrt. has bought out the 51% stake of Elitur Invest Zrt., its partner in Strabag Property and Facility Services, thus becoming sole owner, the company disclosed on the Budapest Stock Exchange (BÉT) on Tuesday. Wing has renamed the company, market leader on Hungaryʼs property management market, NEO Property Services. The company, with a headcount of 700, manages some 4,000 properties with a combined area of 10 million square meters. It has annual revenue of HUF 17.8 billion. Wing did not disclose the purchase price of the stake, but said the transaction has been cleared by the Competition Office (GVH). Wingʼs goal is to further strengthen the leading position of NEO Property Services on the market for real estate services, according to a report by business portal portfolio.hu. The firmʼs predecessor was founded by Wing in 1999, the report recalls, adding that it has operated in its current form since 2005. According to the announcement, the change will not alter the firmʼs operations, with NEO Property Services continuing to provide services of a high standard to its clients, maintaining its key goal in future of preserving corporate value and building on the results attained so far. Home prices in Hungary rose at a slower rate in the fourth quarter, while the gap between prices in large and small settlements continued to widen, the National Bank of Hungary (MNB) said in a quarterly report published on its website mnb.hu. Thu, May 2, 2019, 10:30 The Municipality of District 1 has decided to waive its pre-emption right and offer a HUF 370 million piece of real estate for sale, with István Tiborcz, son-in-law of Prime Minister Viktor Orbán, reportedly set to buy it, according to news portal 24.hu. Tue, Apr. 30, 2019, 09:30 Developer Wing Zrt. has announced the construction of Park West, a new community residential park in District 13 near Lehel tér, under the companyʼs Living umbrella brand for residential properties, according to a press release sent to the Budapest Business Journal. Thu, Apr. 25, 2019, 09:00 The Budapest Research Forum (BRF), which comprises CBRE, Colliers International, Cushman & Wakefield, Eston International, JLL and Robertson Hungary, says that the vacancy rate in the Budapest office market is near a record low, with no new office buildings delivered in the first quarter of 2019. Tue, Apr. 23, 2019, 16:30

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