What GroundUp Kft. does

GroundUp Kft. (legal name: GroundUp Építőipari Korlátolt Felelősségű Társaság) is a Budapest-headquartered general contractor specializing in high-rise residential and commercial construction across Hungary. The company was founded in 2017 as a wholly-owned construction subsidiary of BigUp Property Nyrt.-linked parent Biggeorge Property Nyrt., one of Hungary's largest private real estate development groups, and operates as the parent's dedicated in-house construction arm. GroundUp delivers full-service high-rise construction — including specialized foundation engineering (diaphragm walls, micropile foundations, large-scale concrete pours), structural work, façade construction, mechanical and electrical installations, and project management — and employs digital tools such as embedded concrete curing sensors to monitor hardening in real time. The firm's operations are governed by ISO 9001 (quality), ISO 14001 (environmental), and ISO 45001 (occupational health and safety) certified management systems, and it maintains a multidisciplinary in-house engineering team of approximately 110 employees.

GroundUp's business model is B2B project-based general contracting. Revenue is generated through negotiated construction contracts executed on a project-by-project basis, with the company serving as general contractor delivering residential complexes, commercial buildings, and mixed-use developments. The primary customer is its parent company Biggeorge Property Nyrt.; the company also targets third-party real estate developers, although external engagement remains nascent. Distribution is direct and project-based, with no consumer-facing sales channel. Since 2017, GroundUp has delivered more than 2,100 residential units across completed projects — including Waterfront City Phases 1–4, Spirit Residence, Westside Garden/Residence, Németvölgyi Residence, Silverbay Residence, and Szemesbay Resort — and currently has 13 major developments in construction spanning Budapest districts (III, IX, XI, XII, XIII) and the Lake Balaton region, with planned deliveries extending through 2028.

The company has been recognized with multiple regional and international industry awards, including the 2025 CIJ EUROPE Hall of Fame "Best of the Best: Residential Development of the Year," the 2024 FIABCI Sustainable Development prize, the 2025 Real Estate Awards Contractor of the Year (gold), and several Lakópark awards. It is a privately-held limited liability company (Kft.) with no external investment or public listing, and its wholly-owned subsidiary status provides structural project-pipeline visibility tied directly to Biggeorge Property's development schedule. The leadership team is led by Managing Director Bozsovics Zsolt, supported by Business Director dr. Matuz Tímea, Production Director Hanics Krisztián, and additional senior engineering and project directors.

Name

GroundUp Kft.

Legal name

GroundUp Építőipari Korlátolt Felelősségű Társaság

Website

https://groundup.hu

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

GroundUp Kft. is a Budapest-based general contractor and wholly-owned construction subsidiary of Biggeorge Property Nyrt., delivering high-rise residential, commercial, and mixed-use construction projects across Hungary using in-house foundation engineering, ISO-certified management systems, and a 110-person specialized team.

Ownership category

akta.pro rank

Product category

General Construction Contracting

NAICS

Residential Building Construction (2361)

SIC

General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Earth Retention & Excavation Support (Sheet/Soldier Piles, Diaphragm Walls, Bracing) (IMAFAOAD)

akta.pro secondary industries

Piling & Deep Foundations (Driven, Bored, CFA, Micropiles) (IMAFAOAA), Shallow Foundations & Ground Support (Footings, Rafts, Ground Beams) (IMAFAOAB)

Keywords

• General construction contracting
• High-rise residential construction
• Commercial building construction
• Real estate development services
• Construction project management

Headquarters

HQ city

Budapest

HQ country

Hungary

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. General Construction Contracting: GroundUp generates revenue by providing full-service high-rise construction services for residential, commercial, and industrial real estate developments. The company serves as the general contractor executing construction for projects developed by Biggeorge Property Nyrt. and potentially other developers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

GroundUp provides full-service high-rise general construction services for residential, commercial, and industrial real estate developments. The offering covers the full project lifecycle including specialized foundation engineering (diaphragm walls, micropiles), structural works, facade construction, mechanical and electrical installations, and project management. Construction is delivered by an in-house team of 110+ employees and certified under ISO 9001, ISO 14001, and ISO 45001 management systems.

Product overview

GroundUp Kft. is the construction subsidiary of Biggeorge Property Nyrt., established in 2017 to provide full-service high-rise construction services. The company operates as a unified construction services provider rather than a software platform, delivering residential and commercial building projects across Hungary. Their portfolio includes multiple ongoing residential developments in Budapest (Amphora Garden, Waterfront City phases 5-6, Madeira Residence, Capri Residence, Árnyas Villa Suites, Cosmo Residence, Urban Rent projects, Újbuda Garden, Újbuda Residence, Westside Grand 1-2), as well as completed projects including Béke Garden, Silverbay Residence, Szemesbay Resort, Waterfront City phases 1-4, Spirit Residence, Westside Garden/Residence, and Négervölgyi Residence. The company also constructs office and logistics buildings. GroundUp maintains ISO 9001, ISO 14001, and ISO 45001 certified management systems and has delivered over 1,000 apartments since 2017.

Differentiator

Problem solved

Functional benefit

Products and services

• High-Rise Construction Services Full-service high-rise construction contracting covering structural engineering, foundation works (including diaphragm walls and micropile foundations), facade work, mechanical and electrical installations, and project management for residential and commercial buildings in Hungary. Delivered by an in-house team of 110+ employees under ISO 9001, ISO 14001, and ISO 45001 certified management systems.

Quantifiable outcome

• Over 2,100 residential units delivered across completed projects since 2017
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Biggeorge Property Nyrt.coreStrategic or Co-development PartnerBiggeorge Property Nyrt. is the parent company and primary customer of GroundUp. Founded in 2017 as a wholly-owned subsidiary to provide dedicated construction services for Biggeorge's real estate development projects. GroundUp executes all major construction work for Biggeorge Property's residential, commercial, and industrial development pipeline.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• HB Reavis: Central European real estate developer and constructor with Hungarian operations; notably GroundUp absorbed HB Reavis's construction team. Highly comparable for high-rise residential/mixed-use delivery in the Budapest market.
• Dömper: Hungarian construction company active in residential and commercial building projects. Comparable as a domestic general contractor competing for similar developer-driven work in Hungary.
• Market Építő Zrt. One of Hungary's largest general contractors for residential, commercial, and industrial buildings. Directly comparable to GroundUp as a domestic Hungarian general contractor serving developer clients with similar project types and scale.
• KÉSZ Csoport: Hungarian construction group offering general contracting, engineering, and construction services across industrial, commercial, and residential segments. Comparable end-market mix and vertically-integrated execution model to GroundUp.
• Reneszansz Group: Hungarian general contractor executing residential, commercial, and mixed-use developments. Comparable project profile and customer base to GroundUp.
• Bayer Construct: Hungarian general contractor active in residential and commercial building construction. Similar project profile and customer base (developer-led) as GroundUp.

Others

• Biggeorge Property Nyrt. GroundUp's parent company and primary customer. Listed here as an ecosystem participant rather than a competitor — its development pipeline directly drives GroundUp's backlog.

Regional players

• Futureal Group: Central European real estate development and investment group active in Hungary, Poland, and Romania. Comparable for high-rise residential and mixed-use development exposure in the same regional market.
• Duna Aszfalt: Major Hungarian contractor with broader civil infrastructure focus but also active in building construction. Comparable as a top-tier Hungarian contractor competing for large project work.

Broad incumbents

• Strabag AG: Large European construction group with significant Hungarian operations across building and civil works. Comparable as a major contractor serving Hungarian real estate developers, but with broader geographic and segment footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/groundup-kft

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GroundUp Kft.