Company History

1991. Incorporation

Our founder, Tibor Nagygyörgy has started his first enterprise in 1991 under the name Biggeorge’s Enterprises. The economic company that came into existence this way offered home letting solutions to diplomats and foreign businessmen in the first times, furthermore is was concerned with real estate lease and operation too.

1996. Biggeorge International, the beginning of real estate investment activity

In 1996 Adorján Salamon, a talented colleague of the company acquired ownership in our real estate procurement company, and the name of the procurement branch became Biggeorge’s International. Following the successes in residential real estate sales we gradually extended our scope of activities, thus becoming an active participant of more and more sections (used apartments, office buildings, warehouses, premises) of the market.

Our real estate investment activity started in 1996. First we bought low value apartments in need of renovation, we renovated then sold them. Later, also involving financial investors, we purchased higher and higher value real estates, increasing their value with letting and development, and then searching for financial investors to buy them.

2000. New Home Center and Europe Real Estate Fund

For the new millennium, as part of Biggeorge’s International, we created a new division specialized in the sales of newly constructed apartments under the name New Home Center, wishing to offer services to investors, buyers and habilitators. We developed its scope striving for full service, thus quickly reaching significant successes on the market and becoming a leading participant.

As the acknowledgement of our sales results we were awarded the ‘Real Estate Dealer of the Year’ title by the Hungarian Association of Real Estate Dealers more times, and twice we also won the ‘Best CEREAN’ award of the Central-European Real Estate Association (CEREAN).

In 2000, with Ferenc Forgó, a recognized expert of the capital market we started Hungary’s first market-based real estate investment fund, Europe Real Estate Fund. The initial, 500M HUF amount of equity grew to 6 billion HUF in a couple of years.

2003-2004. Home Center, the sale of Europe Real Estate Investment Fund, Biggeorge’s-NV

In 2003 Biggeorge’s International split and serving the residential and business customers got to separate companies. Eston International, wherein we sold our shares in 2004, continued business services. For the fuller service of our residential customers’ needs, following the buyout of the division, besides the marketing of newly constructed real estate we started the sales of used apartments too and began to build a national franchise network called Home Center. To our customers and clients this diversification first of all provided personalized contribution of distributors and counselors in guaranteed quality, and to us a company structure even more flexible and appropriate for the challenges of the market. Today Home Center operates more than 115 offices, and every client in search of an apartment is sure to find the most fitting real estate in its offer. In customer financing Home Center Credit Center, connected to the most important banks, while in insurances related to loan applications BG Risk Insurance Agent provides free of charge services to its clients.

In the course of 2004, following the significant take-off of the real estate fund and the significant capital gain of the company, we sold Europe Fund Manager Ltd. to Pioneer Group, a member of the Unicredit banking group.

Our real estate development company, Biggeorge’s NV Ltd. was founded together with Dr. Viktor Nyíri and started operating in 2004, offering the development of residential parks, office buildings and other real estate, furthermore services in operation and fund management. Sasad Liget Residential Park, Parkway Offices and Bécsi Corner are some examples realized within the confines of the company.

2009. Venture capital activity, X-Ventures

In the economic environment afflicting the real estate market our company group started to work out a new business division. We succeeded to set up our new venture fund manager company, Biggeorge’s Equity Ltd., whose name later changed to X-Ventures. We successfully run for the management of venture capital funds created within the frames of the so-called Jeremie programme. The two funds, each of them posessing 4 billion HUF subscribed capital, invested in local startups with the 70% participation of the European Union and 30% of our company.

2014. Biggeorge Property, the transformation of the company group

In 2014, hoping for the repeated significant take-off of the national real estate market, our founder decided to put real estate development, investment and the related services in the company group’s focus again. To reach this goal our group sold its shares in X-Ventures and purchased the 50% block of Biggeorge’s-NV Ltd. owned by Dr. Viktor Nyíri. This way also Biggeorge’s-NV’s project portfolio got under the control of Biggeorge Property Ltd., our company operating in the field of real estate development. Currently there are 20 residential, office and other real estate development projects in our portfolio, whose complete volume amounts to 300.000 sqm and 150 billion HUF.

On the other hand, selling the venture capital fund management division does not mean that the group has completely given up on venture capital investment; it only shifted to a more passive investment strategy. Within the frames of it we implemented investments in Hungary and worldwide in favour of the development and growth of new enterprises, where a unique idea is combined with a talented team and significant growth potential, and the execution revolutionizes the ordinary functional forms and business operations of the area. The majority of our enterprises are internet based, working mostly in the field of financial technology (FinTech).