International developer Skanska has completed the divestment of the second phase of H2Offices in Budapest, Hungary, securing a transaction value of EUR 98 million, or approximately SEK 1.1 billion.

The buyer is ERSTE Open-Ended Real Estate Investment Fund, represented by asset manager ERSTE Alapkezelő Zrt. Skanska Commercial Development Europe will book the sale in the third quarter of 2026, while the official transfer of ownership is set for the fourth quarter of 2027.

The second phase of the development comprises roughly 22,000 square metres of leasable office space. A global company has already secured the entire building under a 10-year lease agreement. Construction on the site is currently underway, with completion expected in the first quarter of 2027.

Positioned in the Váci Office Corridor, one of the primary commercial areas in Budapest, H2Offices will eventually encompass three buildings providing around 67,000 square metres of modern office accommodation surrounded by landscaped grounds.

The scheme incorporates four-season heat pumps, rooftop solar panels and efficient building systems to maintain low primary energy demand. The second building is aiming to achieve LEED Platinum, WELL Platinum and Access4You Gold environmental and accessibility certifications.