Wizz Air is buying Budapest office building in which it is a tenant
Wizz Air's international headquarters have been located in Hungary for over 22 years. From here, the company manages the operations of its entire route network, and its finance, accounting and IT development centres are also based here. The company employs hundreds of software engineers in Budapest, working on developing and innovating its digital systems.
In the second quarter of 2024, a 8,200-square-metre office was converted for the company at Millennium Towers 1.
On Monday, Vienna-based CA Immo announced that it had sold the Millennium Tower I office building in Budapest, marking another step in its gradual withdrawal from the Hungarian market.
The purchase of the office building will enable Wizz Air to expand further,
according to a statement released by Wizz today. The company aims to develop infrastructure that meets the needs of a technology- and innovation-driven airline.
The office building changed hands with the assistance of Newmark VLK Hungary, which provided strategic consulting, technical due diligence services, negotiation support, and comprehensive tenant representation. According to Newmark VLK, the deal is one of the largest owner-occupier office transactions in Hungary in recent years and signals long-term confidence in the domestic market.
The multi-tenant building completed in 2006 is part of the Millennium Towers office park located along the banks of the Danube, surrounded by a green park area. It offers a gross leasable area of approximately 18,800 sqm and around 270 parking spaces. As of November 2025, occupancy is about 87% with a WAULT of 7 years to end and annualised in place GRI of around €3.1 million, CA Immo said in a press release.
“Based on market fundamentals and attractive alternative capital allocation options, we have decided to reclassify Hungary to a non-core market in 2023. This transaction is a further step in the implementation of our strategic capital rotation programme and on the way to exiting the Hungarian market," commented CA Immo CEO Keegan Viscius.
The proceeds from sale may be used in a number of ways, including general corporate purposes, accretive investment in the company's prime portfolio, repayment of debt, buyback of shares, and external investment should attractive opportunities arise, he added.
The sale is in line with CA Immo's long-term investment strategy, pursuing a clear focus on large, high-quality Class A office properties in prime inner-city locations.
As part of this strategy, CA Immo is selling properties that do not correspond to the core business in terms of asset class, location, building quality, age, or value creation potential, continuously optimising the quality and sustainability of the property portfolio.
As of 30 September 2025, CA Immo's Hungarian portfolio consisted of six office buildings in Budapest with a total lettable area of around 125,000 sqm and a book value of around €246m. All Hungarian buildings have BREEAM Very Good or LEED Gold sustainability certification.
Cover photo: Wizz Air
