Phase I of Millennium Gardens wins Commercial Development 2022 prize
- Press releases
The first phase of Millennium Gardens has won the Commercial Development of the Year 2022 prize at the Hungarian Real Estate Awards
The first phase of Millennium Gardens office building in Budapest has been awarded the Commercial Development of the Year 2022 prize at the Hungarian Real Estate Awards, one of the most prominent real estate prizes of the country.
The first phase of Millennium Gardens office project in Budapest has been awarded the Commercial Development of the Year 2022 prize at the Hungarian Real Estate Awards Gala yesterday evening at Vigadó Concert Hall in Budapest. This prize is a worthy recognition of the work of TriGranit and Revetas Capital and the exceptional quality of the building.

Millennium Gardens has won the prize due to its ability to meet the office requirements of the 21st century. The building is the first phase of the ESG and 2040 Carbon Neutrality strategy of Revetas Capital, which means that only innovative solutions were applied during the construction to reduce emissions and energy consumption during operation, and only environmentally friendly materials were used for the building. Contractors were selected based on compliance with HSE requirements, and all construction activities were monitored and reported regarding the corresponding CO2 emissions. The building was also planned in accordance with BREEAM ‘Excellent’ and Access4You ‘Gold’ certifications.

‘We are delighted that the organizers of the Hungarian Real Estate Awards awarded our office development Millennium Gardens with the Best Commercial Development of the Year in Hungary prize. I would like to express my appreciation to everyone who has contributed to this success, but above all to Revetas Capital Advisors, EBRD, TriGranit team, our clients, contractors and partners for their trust and faith in us. The first phase of Millennium Gardens has opened its doors with an occupancy rate of over 90%, trusted by tenants such as Henkel Hungary, Provident, MSD Pharmaceuticals and Fressnapf, just to mention a few. We will continue providing the best possible office space for our tenants and follow this approach with the second phase of Millennium Gardens, the construction of which will be launched in the coming weeks.’
– said Tom Lisiecki, CEO at TriGranit.
Eric Assimakopoulos, Founding Partner at Revetas Capital, declares:
’We are delighted for Millennium Gardens to receive this award, which is a great recognition of our team’s hard work and dedication to delivering outstanding projects in terms of design, technology and sustainable ESG practices. Trigranit’s and Millennium Gardens’ journey began in 1997 with the Millennium City Center. The Millennium City Center is a brilliant vision of an urban regeneration project on a 12-hectare brownfield site, now comprising 7 buildings on almost 400,000 sqm, all completed with the newest jewel on the Danube, Millennium Gardens, delivered by TriGranit. We would like to thank our partners, investors and banks, all our stakeholders, and teams for bringing this vision to life. Phase 1 of Millennium Gardens – The North Tower kicked off with over 90% occupancy with Fressnapf, Henkel, Provident, MSD (Merck Pharmaceuticals) and ION Dealogic, as key tenants. We continue our commitment to our tenants to provide the best office experience and to set the standard for sustainable buildings in the future.’
Besides the conscious design and energy-saving techniques used during its construction, the office building has a number of other features that help to maximize its environmental performance. In addition to giving the building an attractive and special appearance, the cantilevered façade design allows the office spaces to be not exposed to direct sunlight, reducing cooling costs and making the work environment more comfortable for the employees.
The building is completely independent of gas, heating is provided by heat pumps and district heating is used only for auxiliary heating of the building as required. Our motion-sensing light sources allow us to avoid wasting energy and also make the use of lighting contactless. In addition, only LED light sources and water-saving taps are used throughout the office building. Other sustainable and innovative technologies and solutions include: intelligent building management system, energy efficient lifts and air conditioning, selective waste collection, drinking water filtration systems, water-saving closet faucets, water-saving shower faucets in the changing and maintenance rooms; systems controlled by building management that can be continuously optimized based on measured results.
About TriGranit
TriGranit operates as a unique real estate development platform in Central Europe, with an unrivalled track-record to acquire and develop prime and sustainable office, mixed-use and alternative real-estate projects that define the landmarks of the region. In its two and half decades of operation, TriGranit has developed nearly 50 landmark projects creating 1,7 million square meters of GLA in seven CEE countries and has won more than 52 highly prestigious international awards.
About Revetas
Revetas is a pan-European real estate investment advisor pursuing a thematic approach focused on value-add investments that may be entangled in special situations. The firm’s leadership has been operating in Europe for the past 25 years and Revetas has been a leader in Central European real estate for over a decade. The team has successfully navigated multiple economic and investment cycles and has built Revetas into a fully integrated real estate platform covering investment, asset, development, and property management. Revetas serves a global base of institutional investors, endowment funds, pension funds, asset managers, family offices and ultra-high-net-worth individuals with a view of delivering superior, risk-adjusted returns. Full alignment with investors, coupled with a strong focus on sustainability, is at the core of the firm’s success. Revetas was founded in 2012 and is led by Managing Partner Eric Assimakopoulos. The business operates from London, Vienna and Luxembourg.