Problem: In the eyes of international real estate investors, the prestige of Budapest has been gradually depreciated and the image of Hungary has become less attractive. The real estate market - developing rapidly since 2004 - came to a halt, the investor's capital seeking for an appropriate field started turning to other target areas.
Task: To facilitate Hungary's international market entry in a way that not only draws attention to the country, but allows proper distinction and emphasizes Hungary's advantages over competitors. To integrate directly affected stakeholders, and, by wide-range co-operation, reposition Hungary as an investment target area.
Solution: We created a cluster incorporating the most significant players in the Hungarian real estate sector. The geographic location of the cluster was a circle of an 80 kilometer radius with Budapest in the middle. This artificially created region is home to half of Hungary’s population and provides 70% of the national GDP. BBR incorporated the largest and most important companies of this area, and their participation in international real estate exhibitions was supported by a unified image, shared messages and professional communication.
Results: BBR enabled its members and their projects to participate in MIPIM international real estate exhibition (Cannes, France), and in Real Vienna exhibition (Vienna, Austria) xxxx times. Thus, more than twenty real estate developments have been able to enter international markets. The cluster served as a communication and cooperation platform between the City of Budapest and the business sector for years, allowing them to jointly present Budapest and the surrounding region for international investors.