Alfa Group would speed up the green transition of real estate in Hungary

By: Trademagazin Date: 2024. 10. 31. 09:55

The compliance of the domestic real estate market with ESG requirements must be significantly accelerated, otherwise Hungary will not be able to meet the very ambitious European Union objectives regarding the sustainability of buildings. Arnon Epschtein, the managing director of Alfa Group, a leading company in the field of environmentally conscious transition internationally and in our country, stated in this connection – joining other experts on the topic – that for positive processes, it would be essential to create a uniform, clear framework, on the basis of which ESG-focused investors and tenants they could decide between different properties.

In the European Union, real estate is responsible for 40% of energy consumption and 36% of the related emissions. Seeing this, it is not surprising that according to the already adopted rules of the EU, all new buildings must be emission-free by 2030, and existing buildings must also be renovated accordingly by 2050.

The Alfa Group, known for its sustainable projects and engaged in real estate investment and operation, dictates a much higher pace in this respect: in coordination with the company’s global portfolio, it will make its properties in Hungary carbon neutral and energetically self-sufficient by 2026. “With these green developments, our goal is to strengthen the position of Budapest and Hungary on the international real estate map. I believe that if we act in time to follow the ESG guidelines, we will not only improve the opportunities of the tenants, but also serve the interests of the community,” said Arnon Epschtein.

In enhancing the sustainability of the real estate sector, the Union would assign a distinguished role to renewable energy sources, the proportion of which is planned to increase to 40% within the entire energy structure by 2030. According to the leaders of the EU, the integration of renewable energy in this sector is progressing slowly, which is why these investments still bring a significant competitive advantage: Alfa Group, for example, now has a high-performance (260 and 300 kWp- es) installed a solar system.