Szinorg Universal Zrt., a private limited company with references, either independently or as a co-investor, including the campus of IT Services Hungary, the Forest Offices in Tüzér Street, and the new manufacturing facility of Sensirion, will continue to implement numerous investments in Debrecen also in the future.
Let’s start with a little company history. The predecessor was founded in 1951 under the name Tanácsi Építőipari Vállalat (Hajdú-Bihar County Council Construction Company), and was one of the most important construction companies in the county for the next several decades. In 1991-92, it was transformed into a business association in 100 percent Hungarian-ownership, and from that point forward the market and the public has known it as Hunép. By the early 2010s, the company had set up several subsidiaries, and over the years, the diverse activities of these have started to become too complex. At this time, Mr. Gyula Szűcs, the CEO of the company’s has decided that, in the interest of concentrating on the core business activities, as well as to ensure transparency and economic efficiency, it was time to reorganize Hunép. In 2013, the companies were reorganized into a holding company structure. The holding companies provide the equity and the financing background for the operation of the members of the group, while they continuously monitor and analyse the financial management of these companies.
They watch the market and take the appropriate steps.
“Szinorg itself is a holding company, which was created from Hunép by way of de-merger. Our motto is ‘Asset management with the creation of new value.’ There are several activities in the Szinorg Group among which the construction industry, represented by three companies, enjoys a priority. The oldest and most significant among these companies is Hunép itself, the second one is a company headquartered in Budapest, which was established 14 years ago, while the third one is engaged in a special segment of the construction industry, the construction of glass walls and curtain walls. Another, very significant aspect of the activities of Szinorg is real estate development, for the implementation of which we are constantly creating project companies. The ten-year strategy of this activity, which is now starting, has been aligned with the development programme of the city for the next decade,” Gyula Szűcs, the president and CEO of the company, as well as the president of the Board of Directors started his introduction to the strategic vision of Szinorg Universal Zrt.
“Of course, it is not only the implementation of investments funded by the municipality that we would like to participate in, as we also continuously monitor the situation to determine what developments are needed in Debrecen and which are the ones that the city may not be able to spend on at the time. Our function, role and also opportunity is to grab these developments to implement, and then subsequently also operate them ourselves. However, we also have plans for other parts of the country. We have all the capabilities for these, as we possess extensive experience in real estate development, we also have the necessary own capital, which can now also be supplemented with loans, we can mobilise the construction capacities to implement the developments, and also have the company to operate the facilities afterwards. There are many areas in the city where we believe there will be much need for real estate development in the next 10 years. For example, there is a shortage of high quality accommodation in Debrecen. We have already taken the first step in this respect, as we are building a hotel in Bajcsy-Zsilinszky Street. There is also a need for new, high-quality residential properties, for sale as and also for renting out. Although currently there is a surplus of offices available in Debrecen, still in this decade we expect a significant demand for office space in the city, and we would like to take part in this as well. There are also a large number of industrial companies currently establishing themselves in Debrecen. This generates a need for factory and logistics buildings. Some of the newcomers would like to rent areas for their business activities, so in a joint venture set up with a local business partner, we have purchased a plot of land in the South Industrial Park in Debrecen. Next year, we will start the construction of a 10-15 thousand square meter hall, which we expect to rent out once completed. We are present on market, we have experience and knowledge. We continuously examine the needs, analyse the market, and take the steps where necessary. Either alone or with a partner,” said Gyula Szűcs.
Source: Gazdaság 2020
Translated by Zsolt Kovács
