The building


Váci 1 is a UNESCO World Heritage listed building designed by Hungarian architect Ignác Alpár, and constructed between 1911 and 1915. During its first 105 years it had multiple and diverse uses. Its original purpose was to serve as the headquarters of the first Hungarian Bank (Pesti Hazai Első Takarékpénztár Egyesület), but it also accommodated stores on the ground floor and residential units on the top level. During the period of 1990–2005 the building was home to the Budapest Stock Exchange. Between 2005 and 2015 the ground floor areas with direct street access functioned as retail units, but the majority of the building stood empty, waiting for its renaissance.

Location and accessibility

Váci 1 Building

1052 Budapest Deák Ferenc utca 3-5.

+36 1 424 4398


Váci 1 is located in the central business and cultural district of Budapest, in the immediate vicinity of national monuments of historic significance, a high-end pedestrian shopping area (Fashion Street, Váci Street, Vörösmarty Square) and several 5-star hotels such as Kempinski and The Ritz Carlton. Deák Square, the ultimate transportation and meeting hub of the city center, is a one-minute walk from the Váci 1 building. 3 metro lines connect here, and further public transportation options range from bus and trolley to tram. A taxi stand is right next to the building. For the comfort of those arriving by car, parking spaces in the nearby parking garages are available for public use. Bicycle lanes in the area also offer the option of riding to Váci 1 in the most sustainable way. A wide range of services are available both in the building and within its close vicinity: department stores and smaller retail units, restaurants and cafés, hotels, banks, post offices, pharmacies, just to name a few. Due to its central location, the building is surrounded by all amenities imaginable, thereby reducing the need for extended travel and multiple car trips. The 5th district UNESCO World Heritage listed building is a tourist destination in and of itself, with its proximity to cultural and social attractions of downtown Budapest, and the beautiful river Danube.

Building services

  • 24/7 reception and security
  • external/internal video surveillance
  • digital card entry system
  • dual power supply
  • wheelchair accessibility
  • 11 energy-efficient elevators
  • 6 retail escalators
  • bicycle storage with lockers/showers

The building – with its office/retail/service functions included - is equipped for maximum safety and security. The highly efficient BMS (building management system) monitors, detects and notifies of all potential malfunctions. Inspections and maintenance are carried out once or twice a year.

Sustainable features


  • occupancy and daylight sensors
  • energy-saving LED light fixtures in common areas
  • increased overall light levels
  • reduced heat island effect

 Climate control

  • energy-efficient HVAC system
  • highly efficient condensing boilers
  • biodiverse green walls in multiple tenant units 


  • harvested groundwater is used for flushing toilets and urinals
  • faucets and showerheads are equipped with built-in low-flow aerators for minimized water consumption
  • separate metering on tenant premises


  • all-stage recycling is available and reinforced in the building (development, construction and operational phases)

Awards CEE Wire Awards 2018
Budapest, Hungary
Office Project of the Year

FIABCI World Prix d'Excellence Awards 2017
Andorra la Vella, Andorra
World's Best Heritage Restoration Project
Europe's Best Retail Development

Office of the Year Awards Competition 2016
Budapest, Hungary
Property Project of the Year in Hungary

IPAX Global 2016
London, United Kingdom
Best Commercial Redevelopment in Europe

CIJ Awards Hungary 2016
Budapest, Hungary
Best Retail Development in Hungary

FIABCI Hungary: 18th Prix d’Excellence Awards 2016
Best Commercial Development in Hungary

Resource Property Awards 2016
Budapest, Hungary
Project of the Year in Hungary

European Property Awards 2016
London, United Kingdom
Best Commercial Redevelopment in Hungary
Best Mixed-Use Architecture Project in Hungary