Market Asset Management

What Market Asset Management does

Market Asset Management Zrt. (MAM) is a Budapest-based real estate developer and asset manager founded in 2019 as a wholly-owned subsidiary of Market Építő Zrt., Hungary's leading high-rise construction company (1,000+ projects since 1996, 1,500+ employees in the Market Group). MAM develops, owns, and operates mixed-use, office, residential, and hospitality real estate across Budapest, with its portfolio anchored by the 54-hectare BudaPart district at Kopaszi-dam (665 billion HUF / ~€2 billion total planned investment, 27 buildings, 2,600 apartments, 285,000 sqm of office/retail, up to 23,000 daily workers by ~2028). Other flagship assets include the LEED Gold-certified BEM Center (22,068 sqm Class A office), the Kimpton BEM Budapest hotel (127 rooms, IHG-operated, opened 2024), Marriott Residences Budapest (48 branded residences), Gellért Green Residences (28 apartments + 4 penthouses), and Dürer Park.

The company monetizes through a mix of one-time residential sales (BudaPart apartments, Gellért Green Residences, Marriott Residences), recurring office rental income (BEM Center, formerly BudaPart GATE), ongoing property and asset management services, and hotel revenue via branded partnerships. Technical differentiation comes from district-scale masterplanning (ADEPT-designed '15-minute city' at BudaPart), smart home systems in residential units, energy-efficient concrete-embedded cooling/heating panels, LEED Gold / A+ energy certifications, and on-site rainwater retention. Go-to-market combines direct-to-consumer sales for residences, enterprise field sales for office leasing, and global brand partnerships (IHG, Marriott, Radisson) for hospitality.

Customer segments are luxury residential buyers, enterprise office tenants (Colliers Hungary, Dentons, McDonald's Hungary, Atradius, Sió ECKES), international hospitality operators, and institutional real estate investors (e.g., S IMMO AG, which acquired BudaPart GATE in 2021). The company is privately held with no external institutional investment, project-financed via a €65 million Raiffeisen facility (2022) and operating through seven wholly-owned Hungarian SPVs.

Name

Market Asset Management

Legal name

Market Asset Management Zrt.

Website

https://marketasset.hu

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Real Estate Property Managers (53131), Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

akta.pro secondary industries

Residential Real Estate Asset Management (BPAJAMAA), Office Real Estate Asset Management (BPAJAMAG), Resort & Branded Residence Vacation Rental Management (BPAJAIAE)

Keywords

• Real estate development
• Mixed-use properties
• Luxury residential apartments
• Class A office leasing
• Hospitality developments

Headquarters

HQ city

Budapest

HQ country

Hungary

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development Sales: Development and sale of residential apartments, office buildings, and mixed-use properties. Revenue generated from property sales to end buyers including individuals and investors.
2. Property Asset Management: Ongoing asset management services for owned and third-party properties including leasing, property operations, and value preservation.
3. Hotel Operations: Revenue from hotel operations through partnerships with international hospitality brands (Kimpton, Marriott) operating in developed properties.
4. Office Rental Income: Rental income from Class A office buildings including BudaPart GATE (sold) and BEM Center, leased to enterprise tenants.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Market Asset Management is a Budapest-based real estate developer and investment manager that develops, owns, operates, and periodically divests premium residential apartments, Class A office buildings, boutique hotels, branded residences, and large-scale mixed-use urban districts. Its portfolio spans flagship projects such as BudaPart (54-hectare mixed-use district), BEM Center (LEED Gold office), Kimpton BEM Budapest (127-room hotel), Marriott Residences Budapest, Gellért Green Residences, Dürer Park, and Market HQ 6.0. The company also provides ongoing property asset management, leasing, and building operations services.

Product overview

Market Asset Management (MAM Zrt.) is a dynamically growing Hungarian real estate developer founded in 2019 as a subsidiary of Market Építő Zrt., operating as a classic asset management company focused on acquiring, developing, and operating properties. The company's portfolio comprises a mix of hospitality, office, residential, and large-scale mixed-use urban district developments. Core projects include the Kimpton BEM Budapest boutique hotel (hospitality), BEM Center Class A office complex (office), BudaPart mega-development (mixed-use district with 27 buildings across 54 hectares), Dürer Park (mixed-use with offices and residences), and branded residential projects including Marriott Residences Budapest and Gellért Green Residences. The company leverages synergies between construction and development divisions to deliver high-quality properties that preserve and create value through sustainable practices.

Differentiator

Problem solved

Functional benefit

Products and services

• Kimpton BEM Budapest A five-star boutique hotel with 127 rooms and 11 suites plus 4 F&B units, located in a renovated historic Radetzky Barracks building on Budapest's Bem Square, operated by IHG Hotels & Resorts under the Kimpton luxury lifestyle brand (the brand's first Central European presence). Interiors designed by Marcel Wanders Studio of Amsterdam.
• BEM Center A 22,068 m2 Class A office complex with 349 parking spots, LEED Gold and A+ energy certification, located in central Budapest. Features an elegant lobby and premium amenities designed by Studio This. Tenants include Colliers Hungary (800 sqm), Dentons Hungary (multi-floor headquarters), and McDonald's Hungary.
• BudaPart The largest urban regeneration project in Budapest's modern history, spanning 54 hectares with 27 buildings, 2,600 apartments, and 285,000 m2 of office and retail space at Kopaszi-dam. Planned to accommodate up to 10,000 residents and 23,000 daily workers. Masterplanned by Danish firm ADEPT following a '15-minute city' concept. Total investment approximately 665 billion HUF (~2 billion EUR).
• Dürer Park A 3.7-hectare revitalization project near Budapest's City Park featuring 5 buildings (2 office buildings and 3 residential buildings), 49,507 m2 of office space, and 207 apartments. Masterplan by Lissoni Casal Ribeiro with sustainable design focus and ground-floor commercial functions.
• Gellért Green Residences Luxury serviced residences featuring 28 apartments and 4 penthouse units with fitness center, wellness facilities, and resident's lounge in Budapest's Gellért area. Positioned as a long-term investment with five-star hotel amenities combined with home privacy.
• Marriott Residences Budapest A branded residence project transforming the historic Hotel Budapest (Körszálló) into 48 luxury residences with 146 parking spaces, fitness center, wellness, and lounge amenities. Introduces Marriott International's branded residence concept to Hungary. Architectural design by KÖZTI Zrt.
• Market HQ 6.0 Market Group's sixth headquarters building with 15,220 m2 land area and 5,479 m2 net floor area, completed 2019-2020. Designed by LEAN Tech Mérnökiroda with interior design by F. Kovács Attila.
• BudaPart GATE The first office building of the BudaPart district, a 20,000 m2 LEED Gold-certified Class A office building near Lágymányosi Bay featuring a highly energy-efficient facade. Sold to Vienna-based S IMMO AG in November 2021 with 100% occupancy at time of sale. Includes DBH Serviced Office (2,500 sqm) and tenants Atradius Hungary, Sió ECKES, Semcon Hungary, and Melódin.
• BudaPart DOWNTOWN A mixed-use hotel and office building as part of BudaPart's fourth phase, housing Hungary's first Radisson-branded full-service hotel with 198 rooms and conference facilities, plus nearly 8,000 m2 of office space across seven floors.
• Property Asset Management Services Ongoing asset management services for owned and third-party properties including leasing, property operations, building management, and value preservation. Colliers International was selected as building operator for BEM Center performing operational tasks from January 2024.

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, major and flagship.

• Colliers InternationalcoreChannel Partner/ Reseller/ Distributor · 30 October 2023Colliers signed long-term rental agreement for 800 sqm in BEM Center and was also selected as the building operator for BEM Center. Colliers Hungary manages the office building operations starting January 2024.
• Marcel Wanders StudiomajorTechnology or Integration · 10 December 2021World-famous Marcel Wanders studio from Amsterdam was commissioned to design the interiors of the Kimpton BEM Budapest hotel. Studio clients include Baccarat, KLM, and Louis Vuitton. Their work is displayed in major museums including Metropolitan Museum of Art and Pompidou Center.
• IHG Hotels & ResortsflagshipStrategic or Co-development Partner · 9 November 2021IHG Hotels & Resorts partnered with Market Asset Management to open the first Hungarian Kimpton hotel at BEM Center. The 127-room boutique hotel is operated under IHG's Kimpton brand, marking Kimpton's first Central European presence. The hotel opened in 2024.
• Radisson Hotel GroupmajorStrategic or Co-development Partner · 18 March 2021Partnership with Radisson Hotel Group for Hungary's first Radisson hotel at BudaPart DOWNTOWN. The mixed-use development includes nearly 8,000 sqm of office space and a 198-room Radisson Hotel with conference facilities, representing Radisson's expansion in Central Europe.
• Marriott InternationalflagshipStrategic or Co-development PartnerPartnership with Marriott International to transform Budapest's iconic former Hotel Budapest ('Körszálló') into Marriott Residences Budapest. This landmark project introduces the branded residence concept to Hungary with 48 luxury residences featuring panoramic views and world-class services.
• ADEPT (Danish Architectural Firm)coreTechnology or IntegrationADEPT from Denmark developed the urban masterplan for BudaPart, implementing the '15-minute city' concept where residents can meet daily needs within a 15-minute walk or bike ride. The 54-hectare development follows this urban planning framework.
• Dentons HungarymajorChannel Partner/ Reseller/ DistributorWorld's largest international law firm, Dentons, signed as tenant in BEM Center with headquarters on 2 separate levels. With 20+ years of domestic market experience, Dentons prioritized the building's AA+ sustainability rating and ESG compliance.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• CPI Property Group: One of the largest CEE real estate owners/developers, with offices, hotels and residential across the region. Comparable in office leasing, hospitality partnerships and capital recycling at a much larger scale than MAM.
• CA Immobilien Anlagen AG (CA Immo): Austrian-listed office specialist with a significant Budapest portfolio (e.g., Millennium Towers, Váci Greens via joint ventures). Buys, develops and operates Class A offices in CEE at a larger scale, comparable to BEM Center / BudaPart GATE.
• Skanska Property Hungary: Hungarian arm of Skanska's commercial real estate division, focused on LEED-certified office and mixed-use projects in Budapest. Comparable in sustainability-led office development and enterprise tenant leasing.

Direct peers

• GTC (Globe Trade Centre): CEE-focused office and mixed-use developer/asset manager with Class A office buildings across Hungary, Poland, Romania and Serbia. Competes with MAM for enterprise tenants seeking LEED-certified space in Budapest.
• HB Reavis: Slovak-headquartered CEE developer of large-scale mixed-use districts (e.g., Nivy, Varso). Comparable in building district-scale, sustainable, mixed-use product in capital cities across CEE.
• Futureal Group: Hungarian and CEE real estate developer/investor with large mixed-use and office schemes (e.g., Etele Plaza, Futureal Campus). Closely comparable activity mix to MAM: residential, office, retail and mixed-use urban regeneration across the region.
• Wing Zrt. Hungarian real estate developer with a comparable mixed-use, office and residential pipeline in Budapest, including large-scale district projects (e.g., Váci Greens, Budapest Airport development). Most directly competes with Market Asset Management for Class A tenants and luxury residential buyers in the same Budapest micro-markets.

Others

• S IMMO AG: Austrian real estate investor that acquired BudaPart GATE from MAM. While not a competitor, it is the most direct investor peer and demonstrates the type of institutional buyer MAM targets on stabilized assets.
• Colliers Hungary: Tenant and building operator of BEM Center; comparable only in property management/leasing function for premium Budapest offices, not as a developer. Useful as an ecosystem peer for asset management practices.

Regional players

• Atenor: Belgian-listed developer of large, sustainable office and mixed-use schemes across Central Europe. Comparable in scale and ESG positioning to MAM's BudaPart/BEM Center projects but primarily active in different CEE/Benelux cities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/market-asset-management-zrt

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries7 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 Market Asset Management