Atenor Secures Permit for BakerStreet II in Budapest

Atenor has obtained a building permit for BakerStreet II, a residential development in Budapest's 11th district.

The project will comprise 280 apartments across three buildings, representing approximately 26,700 sqm of residential space.

The development is located near the Danube and university faculties. It is planned around a landscaped courtyard with green areas and shared amenities, forming the setting for the residential buildings.

Construction Planned for 2027

Pre-sales and construction are expected to begin in the first quarter of 2027. Completion is anticipated in the second quarter of 2029.

The building permit marks a key step in the project's development and provides the basis for the next stage of activity.

The project is intended to offer a residential product focused on liveability, design and connectivity.

Project Shifted from Office to Residential Use

BakerStreet II was initially planned as an office development. Atenor later reassessed the project in response to changing market conditions in Budapest and the company's shift in strategic focus towards residential development.

János Martin, Country Director Hungary at Atenor, said the 11th district has become an increasingly competitive residential market.

He said the company is focusing on a higher-quality and differentiated residential product designed around changing expectations for liveability, design and connectivity.

According to Martin, BakerStreet II, together with Lake 11, strengthens Atenor's residential offering in this part of Budapest.

Also Read: Radisson Individuals Opens First Hotel in Hungary

Lake 11 Complements BakerStreet II

BakerStreet II complements Lake 11, another Atenor residential development in Budapest's 11th district.

Lake 11 is being developed in phases and is expected to comprise close to 900 apartments and approximately 2,300 sqm of commercial space.

The first phase, Lake11 Home&Park, comprises 265 apartments and has already been delivered.

In March 2026, Atenor launched construction and commercialisation of the second phase, Lake 11 Flow, which comprises 146 apartments.

Pre-sales for Lake 11 Flow had reached more than 30% as of September 3, 2026, according to the company.

Also Read: Danubius Hotels Expands Budapest Portfolio to 17 Hotels

Atenor Expands Residential Focus

The BakerStreet II project forms part of Atenor's broader residential development activity in Budapest.

The company is an international real estate developer listed on Euronext Brussels and develops mixed-use urban projects covering residential, office, retail and public space uses.

With the building permit secured, BakerStreet II is moving towards its planned pre-sales and construction start in the first quarter of 2027.

The project is expected to be completed in the second quarter of 2029 and will add 280 apartments to the company's residential pipeline in Budapest.

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