The Market Group is adapting its operations to the changed economic environment, market demands, and the new industry cycle: to eliminate overlaps, increase efficiency, and maximize synergies, it is consolidating its real estate development, investment, and asset management capabilities under the Property Market umbrella. Ongoing development projects – including The Icon by Marriott Residences Budapest and Gellért Verdant Residences – are proceeding smoothly, while the group has also begun preparations for new projects.
The real estate and construction markets have been undergoing significant structural transformation in recent times. The previous era of volume-driven expansion is giving way to an era of efficiency, prudent resource management, and focused professional operations. Market Group, the market leader, is responding to this market trend with proactive organizational development: the group’s two companies specializing in strategically important development projects – Property Market Real Estate Development Ltd. and Market Asset Management Inc. – will henceforth conduct their operations under a single brand, Property Market.
With this organizational integration, real estate development, technical preparation, and project management tasks – along with the entire team of professionals responsible for them – will be incorporated into the Property Market organization. With this move, the group is consolidating its development and investment expertise under one roof, strengthening its professional capabilities in serving both its own projects and external partners.
In parallel with the merger, the company’s financial and capital market profile is also being streamlined: Sándor Makra will continue to serve as CEO of MAM Investment Fund Management Ltd., which was established at the end of last year to coordinate strictly supervised institutional asset management and investment structures. This clearly separates development and construction activities from capital market fund management activities at the institutional level, ensuring the independent and stable operation of capital market fundraising and financial operations.
Ákos Kiss, managing director of Property Market, will take over the management of the consolidated real estate development organization. Under the new structure, Gábor Nagy will serve as Chief Financial Officer, and Tamás Fodor will serve as Chief Investment Officer. Krisztina Tóth, who has been a key member of the group for more than a decade, will lead the Business Development Division and continue in her role as director within the consolidated organization.
“The normalization of market conditions and the economic environment demand disciplined, rational corporate operations. For thirty years, the Market Group’s strength has lain in its ability to adapt to economic conditions in a timely and flexible manner,” emphasized Sándor Scheer, chairman of the board of Market Építő Zrt., regarding the decision. “We are not backing down; rather, we are reorganizing our existing resources into an even more efficient structure. We expect the unified team to make the most of the professional synergies within the group to ensure the high-quality execution of our existing projects, prepare new, value-creating investments, and form partnerships with other real estate developers and market players.”
The organizational restructuring directly supports the momentum of ongoing, high-priority investments. The revitalization of the former Körszálló is proceeding at a steady pace; under the name The Icon by Marriott Residences Budapest, it is being developed as the country’s first internationally branded residential project, while preserving the capital’s iconic skyline. Also as planned, the premium residential complex Gellért Verdant Garden, located on Kemenes Street on the southern slope of Gellért Hill, is being built amid strong market interest. In addition to its existing projects, the Market Group has consistently closed new real estate transactions in recent months, laying the groundwork for future growth.
With this move, the group further strengthens its market independence and competitiveness, demonstrating that a corporate structure based on quality, state-of-the-art technologies, and sound market principles is the key to stable growth even in a changing economic environment.
