Nokia Skypark building opens in Budapest securing Hungary as leading R&D hub

Hungary aims to offer the most favorable conditions in central Europe for R&D to stimulate new technology investments, says foreign minister.

Nokia has opened the Nokia Skypark office building in Budapest, helping to secure Hungary as one of Europe's leading R&D hubs.

The Nokia Skypark office building, which is home to a new state-of-the-art IT and R&D center, was opened by Péter Szijjártó, minister of Foreign Affairs and Trade, in Budapest’s rehabilitated Corvin Quarter.

Accrording to MTI, Nokia Solutions and Network Kft has signed a ten-year lease on the 20 billion HUF (64m EUR) building in the eighth district with developer Futureal.

Minister Szijjártó said Nokia sees Hungary as a prime location in its global development strategy. Hungarian IT developers and engineers working on major developments around the world will have access to the best possible environment in which to continue notching up important results in world-class developments, he said.

The minister underlined Hungary’s aim of offering the most favorable conditions in central Europe for companies engaged in R&D that forms the basis for new technological investments. The government has created favorable tax, training and digital conditions accordingly, he said.

The minister noted that the production value of Hungary’s IT industry came to 3,101 billion HUF (9.97bn EUR) last year, up 4 percent from the previous year. At the same time, the sector employed 201,000 people in Hungary, up 14 percent on 2015, he added.