Press release
H₂Offices Phase 2 reaches structural completion - Skanska marks another milestone in delivering one of Budapest’s most forward-looking office developments
The second phase of the H₂Offices office complex in Budapest has reached structural completion, marked by a topping out ceremony held on April 29. With more than 22,000 square meters of office space, the development is now moving into the next stage of construction and remains on track for completion in the first quarter of 2027.
Located along Budapest’s Váci Road office corridor, H2Offices is being developed in three phases. Construction of Phase 2 started at the end of 2024, and with the substructure and main structural works now completed, the project now enters a new phase focused on façade installation and the implementation of mechanical and electrical systems.
H2Offices is designed as a workplace that responds to both business needs and broader environmental ambitions. The complex has already established itself as a landmark on the Budapest office market, and Phase 2 continues this journey by bringing forward new standards in office development. It also reinforces H2Offices as a building of firsts, including the ambition to become the first carbon-neutral building in operation in Budapest, supported by energy-efficient technologies such as four-season heat pumps, rooftop photovoltaic panels and renewable energy sources.
“Phase 2 of H2Offices reflects our ambition to deliver office space that is future-proof, commercially relevant and aligned with the evolving expectations of occupiers and cities. Reaching structural completion is an important milestone and confirms that the project is progressing according to plan toward delivery. With its strong sustainability credentials, advanced technical solutions and ambition to become the first carbon-neutral building in operation in Budapest, H2Offices sets a new benchmark for high-quality office development. The strong market response, including the largest speculative lease transaction of the past decade on the Hungarian office market, further confirms the relevance of the development,” said Aurelia Luca, Executive Vice President of Skanska’s commercial development business unit in Hungary and Romania.
“Reaching structural completion means we have successfully completed one of the most important stages of the project. This milestone is the result of strong collaboration, commitment and professionalism across the entire team on site and among all project partners. We are proud to have delivered this phase while maintaining high standards in health and safety and advancing our targets related to sustainability and EU Taxonomy alignment. As the project moves into the next stage, the focus shifts to façade works and building systems, which will require the same disciplined execution and close coordination. So far, more than 600 professionals have contributed to the development, reflecting the scale and complexity of Phase 2,” said András Ábrahám, Project Director at Skanska Commercial Development Europe
Sustainability remains at the core of Phase 2. In addition to enabling carbon-neutral operation, the project incorporates low-carbon materials and requires Environmental Product Declarations from key suppliers. The development will also include a nearly 3,600-square-metre park, which will expand to approximately 5,000 square metres of community space once the full H2Offices complex is completed.