Debrecen4U September 22, 2025

Debrecen is on the right track for foreign real estate developers

As a guest on the Médiacentrum Debrecen’s Public Affairs program, the CEO of Debreceni Vagyonkezelő Zrt. (Debrecen Asset Management) spoke about the successes and challenges they faced, breaking them down into examples from member companies. 

Debreceni Vagyonkezelő Zrt., which consists of nine member companies, has more than 1,600 employees. The holding company is celebrating its 25th anniversary.

CEO Virág Marossy spoke not only about the anniversary but also about the development of the city’s real estate market and the financing of the development of public transport and water supply systems.

At the end of May, it was reported that Debreceni Vagyonkezelő Zrt. had a successful year. It closed 2024 with a consolidated profit of HUF 1.9 billion. But how should this result be evaluated? What is behind the numbers?

In response to a question from editor-in-chief Zsuzsa Keserű, Marossy Virág said that they had a very tough but financially good year. And, although financing local public transport was also a determining factor in their 2025 plans, the asset manager had a much greater profit-generating capacity in the past, so they were able to spend a larger portion of it on public transport. True, their operating costs were also much lower then.

As she said, in addition to financing public transport, the 2024 Water Utilities Act also had a two-way effect on the asset manager. On the one hand, positively, Debreceni Vízmű Zrt. (Debrecen Waterworks) has increased its revenue, as market players pay more for the water used. On the other hand, negatively, some of its member companies are among the city’s largest water users, such as Aquaticum Debrecen Kft.

Speaking specifically about Aquaticum, she also highlighted that she believes the strand is working well, and although the number of rainy days in July was significant, the weather was good again in August, so they were able to stay open for a week longer.

According to Virág Marossy, the revenue and attendance finally approached last year’s, so they closed a good year.

“Of course, continuous developments are needed; the development of the thermal or adventure bath complex is a daily topic. But a lot of it is a question of financing. Fortunately, the hotel’s occupancy rate is also very good,” she added.

Debreceni Vagyonkezelő Zrt. is the first and largest asset management company in Hungary, and similar companies have been established in many cities. But how good a decision was this way of operating?

“We have reviewed the holding system several times to see if it is good and functional,” Virág Marossy emphasized in her response.

According to her, cross-financing (cash pool) is the key, which works continuously, and in recent years they have also started to feel and exploit its benefits in several new areas, such as HR or technical areas (procurement, investments).

“A group of companies can always be stronger: the expertise that one member company has can be useful to another company in another area. This way, we can work with fewer colleagues but with much greater expertise every day,” she said.

Next week, in Budapest, the most important players in the domestic real estate market will meet for the 21st time at the Portfolio Property Investment Forum. The CEO of Debreceni Vagyonkezelő Zrt. will also be present as a speaker at the event.

When asked how the holding company can connect to this area, she answered the following:

“Debreceni Vagyonkezelő Zrt. has a major role in preparing real estate for investors in the city that supports economic development efforts.

For example, this included the preparation and resale of the areas of the southern industrial park, from which the city was able to increase the local business tax rate. But they are also looking for opportunities for residential real estate or even hotel and office development. They will appear at next week’s conference with a Debrecen stand and will also hold a roundtable discussion, specifically focusing on developments in Debrecen, ” she explained, highlighting that the economic development in Debrecen has reached such a scale that it is now necessary to address those developers from Budapest or abroad who would like to invest in the city, serving the emerging needs.

In terms of housing, the appearance of the Otthon Start Program may reorganize the housing market, and the municipality has suspended the Főnix Housing Program. However, it helps with rental apartments, as Cívis Ház Zrt. is advertising 94 such municipally owned properties for rent, 78 of which are also with social support.

Virág Marossy believes that as a city company, they have an important role in being able to continuously make properties available in the social sphere and in terms of market rental apartments.

She summarized that their goal is by all means to build or create as many new apartments as possible in cooperation with investors, which will be included in the portfolio of Cívis Ház Zrt.

As Dehir reported, several pipe bursts have occurred in Debrecen, most recently on Thursday.

In response to a question from the Editor-in-Chief, she summed it up that they have been placing much greater emphasis on reconstruction in recent times. There is a huge water utility system development in the city, which affects both the sewage and drinking water systems, but we also need to pay attention to the basic operation.

For this reason, the budget with which Debreceni Vízmű Zrt. can work has been increased by several billion due to its dual role.

In addition to the numerous tasks, the holding also has to compete with the multinational companies that are settling in, especially when it comes to retaining employees.

Marossy Virág explained that they can also celebrate their 25th anniversary because they work with loyal colleagues and have a committed professional background. It is a fact that they also have to monitor inflation and wage growth—which is dictated by the market—every time. “We are also trying to compete with the market at such a level that we look at what training and fringe benefits we need to provide to our colleagues in order for them to stay with us,” she concluded.

Regarding future goals, she said that adaptation, digitalization, and more efficient and transparent processes will characterize their plans, as well as rejuvenation, which this type of digitalization can also help with.

Source and photo credit:dehir.hu