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Dunacity – promotional video
DunaCity Budapest is a complex real estate development project in a 32.5 hectare brownfield area where once Nagyvásártelep, the former commercial centre was located. The location of the site is now one of the most frequented and fastest improving parts of Budapest, it is situated on the busy Soroksári-road, which has great potential in possible future developments. The development includes a potential of more than 500,000 sq m of built-in floor space, including office, retail, residential and hotel functions. The investment will be unique in its size, complexity and design. The overall value of the investment is 1,100 Million EUR. The project will be launched in 2010, after the completion of preparations between 2006 and 2009. The predicted date of completion is 2018.
DunaCity – development of a new district in Budapest
The DunaCity city project is of key importance in the real estate portfolio of the QUAESTOR Group. We have a 50% share in it. In cooperation with development partners we want to build a trendy district that keeps its finger on the pulse of business.
In the past the area was occupied by a food wholesale center. The project area covers around 33 hectares in one of the most coveted and fast-developing parts Budapest, to the south of Rákóczi Bridge (formerly called: Lágymányosi Bridge) alongside the Soroksár branch of the Danube River. The DunaCity area is suitable for the construction of mixed-use property units on a total floor space of nearly 500,000 m².
For more information please visit: www.dunacity.hu
DunaCity ready to go
The biggest, Ft 250 billion investment project of the Hungarian capital, DunaCity is cleared to launch, after infrastructural developments on the premises of the investment, on the last large building site of the Pest side of the Danube, draw to their completion.
The Ft 1.5 billion investment in infrastructure makes it possible to establish a 500,000 square meter building complex instead of the 435,000, which was originally planned. The successful infrastructural investment also increased the possible size of green areas. The project management company established for the purpose is owned by Gropius and Questor, each with a 50% stake. The investment is to be completed in 15 years with Ft 250 billion in overall expenditure. Gropius Zrt closed the year of 2007 with an increasing turnover and with profits as well. Its net revenue exceeded Ft 15 billion, its profit before taxation amounted to Ft 700-800 million while its shareholders’ equity rose to Ft 4 billion. According to book calculations, stakes of Gropius in six other companies worth all together Ft 4 billion, but on the market, however, these shares worth Ft 15 billion. This year’s contracted portfolio of the company surpasses Ft 12 billion. These figures were reinforced by Gyula Csáktornyai president-CEO of the company. (Napi Gazdaság)
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