PROFILE REAL ESTATE INVESTMENTS OFFICE DESIGN & PROJECT MANAGEMENT WHY TO INVEST IN HUNGARY? MANAGING DIRECTOR CONTACT

Bank of Georgia, Representative Office, Bank Center, Budapest

About Bank of Georgia

The Bank of Georgia is Georgia's leading universal bank, providing a wide range of retail banking corporate banking, wealth management, insurance, trade finance, leasing, brokerage and card processing services to its clients. Bank of Georgia is the first company from Georgia to be listed on the London Stock Exchange.

Press release in Hungarian: click here
Press release in English: click here

Project summary

In 2012, Stay In Hungary Kft was hired by Bank of Georgia to use its local expertise and Project Management/Client Representation services (Phase 1. Find office space, Phase 2. Design/fit-out, Phase 3. Market Launch) to help the Bank set-up and launch its new Representative Office in Budapest.

A unique office has been created on 124 sqm on the 1st floor of the A+ category Bank Center office building in the financial center of Budapest. By bringing the three execution phases under one roof the Bank has saved money, time, and energy while maximizing its Return on Investment.

• Responsibility: Project Management & Client Representation in Phase 1, 2, 3


• Time scope: 11 months for PHASES 1, 2, 3 (November 2011 - September 2012)


• Significant savings has already been reached in all development phases in terms of better lease terms, larger fit-out contribution, lower fit-out and furnishings costs, cost-effective Grand Opening event and broad media coverage.


• Location: Bank Center, A+ category office building located in the financial, banking and administrative hub of Budapest, just a few blocks from the Danube, the House of Parliament.


• Office Size: 124 sqm


• Interior Design by willbedesign


• Design concept: Elegant style based on a belief in comfort and function.

Our cooperation covered 3 PHASES:

PHASE 1 - Office space finding, lease negotiation, contracting (Bank Center, Budapest)

Stay In Hungary Kft identified, evaluated, and suggested appropriate permanent office space options, scheduled appointments for site visits, assisted in lease negotiations in order to reduce the capital investment and the average annual recurring, and your monthly total effective rent. Stay In Hungary also reviewed the lease contracts with the assistance of lawyers appointed by the Client and will help with future lease contract extensions, if requested.

PHASE 2 - Office Design and fit-out until turn-key implementation, Project Management & Client Representation

As Project Manager, Stay In Hungary Kft - along with the selected interior design team - planed the layout, designed the space, and managed the overall fit-out planning and general construction work until turn-key handover. Special emphasis was placed on careful vendor selection, negotiations to reduce furniture and decoration costs, and overall quality, budget, time management.

Stay In Hungary Kft also supervises the fit-out team of the Developer to ensure that they completely follow through with their fit-out contributions, and actually used the specified and quoted products, and implement the electrical, mechanical, architectural implementation according to plans. Stay In Hungary Kft collects and reviews requirements and documentations necessary for licenses, permits and approvals including but not limited to planning, building regulations, construction licenses, fire brigade approvals.

PHASE 3 - Launching the new Representative office on the market, Grand Opening event

Stay In Hungary Kft planned and fully executed the Representative Office Grand Opening event, which is the focal point of a broad campaign targeting high net worth individuals and potential investors, fund managers.

Scope of Grand Opening: As a general contractor, Stay In Hungary Kft was responsible for managing the whole event from planning to implementation through following up with guests including invitation management, registration, catering (cocktails, finger foods, non- and alcoholic drinks), hostesses, corporate take away gifts, technical background, a jazz band graduated from the Hungarian Academy of Musi, a video crew, photographers to capture event. Stay In Hungary Kft also provided security and handled all planning, administrative, coordination and management tasks.

Reference projects

• Reference Project 1: Albemarle Corporation, new SSC Center in Budapest (US based, listed chemical company)

• Reference Project 2: Dealogic, new Software Development Center, Budapest (US-UK based software developer serving investment banks from NYC to Tokyo)

• Reference Project 3: Merck, new Head Offices, Budapest (German based, listed, pharmaceutical and chemical company)

• Reference Project 4: The Embassy of the State of Kuwait, Budapest (Diplomatic mission)

• Reference Project 5: TATA Consultancy Services (TCS), Budapest. (Indian, listed information technology company)

• Reference Project 6: DBH Group, new Serviced Office, Budapest (Dutch-Hungarian venture capital firm)

• Reference Project 7: Bank of Georgia, Representative Office in Budapest (Georgia's leading universal bank, London Stock Exchange listed)

• Reference Project 8: The Hackett Group, Office Space/HR recruitment (American, listed, global strategic business advisory firm)