2024 was the year of renewals. A particularly important achievement for Prologis is the successful renewal of all its previous leases that were coming to an end, retaining previous customers besides new ones. In total, more than 190,000 square metres of space have been signed for use during the year 2024 on the Budapest market. The increased competition in the market last year led to longer decision-making processes and, in turn, longer-term commitments. This has been accompanied by a number of building modernisations, reinforcing the service and high quality of the properties offered by Prologis.
By the end of 2024, the occupancy rate in Prologis' Hungarian properties exceeded 94%, which is above the industry average. The high occupancy rate of its six logistics parks reflects the competitiveness of Prologis' properties and confirms the confidence of its customers in the high quality of its stable services.
„We consider it extremely important to be a stable and reliable point of reference for our clients in changing market conditions, and we are particularly proud that our partners have repeatedly placed their trust in us. Like any other player in the market, we are exposed to the cyclicality of the economy, but our portfolio has fortunately avoided major downturns in scale, so we can focus our development energies on preparing for future challenges”, said Zsuzsanna Hunyadi, Prologis' Director of Leasing and Customer Experience in Hungary.
Prologis' portfolio includes " A" class buildings that are constantly being prepared for the future: as in every year, the company has spent 10% of its revenues on conservation and modernisation in 2024. It has made a number of investments to improve its properties, including upgrading warehouses (e.g., roof waterproofing and dock door replacement, lighting upgrades and a number of other customer-related improvements). Infrastructure in the parks, as well as the renovation and maintenance of transport routes, were also improved, as these improvements will further increase customer satisfaction and contribute to smooth operations.
„At Prologis, we are thinking in terms of long-term partnerships, whereby we are constantly modernising our logistics centres in line with sustainability considerations and the guidelines of our asset management strategy, so that we can serve our customers' needs in a future-proof and sustainable way”, said Lóránd Gárdonyi, Real Estate and Customer Experience Director at Prologis Hungary. „Ecosystem management has replaced infrastructure management, therefore we contribute to a better workplace with a tenant-focused asset management approach and value-based operational services.”
During Prologis 2024, Prologis continued to organise a number of activities for those working in its logistics parks. A communal footbal game watching was held during the European Football Championship at the Prologis Park Budapest-Gyál football pitch, and the autumn football tournament for its customers was organized for the tenth time. Another milestone was the special installation inaugurated in the spring of 2024 at Prologis Park Budapest-Sziget II on Earth Day: an outdoor painting on the sprinkler tank of the park's ultra-modern fire extinguishing system, covering an area of almost 350 square metres, presents the colourful flora and fauna of the area.
In 2025, Prologis will remain committed to offering its customers high-quality, sustainable logistics real estate solutions in Hungary and worldwide.