The project is the first intermodal multi-functional strategic sub-center development in Budapest and it is one of the most valuable development sites in central-eastern europe that is planned to be realized with an approximately euro 300 m investment, including the site costs, in multiple phases over the next years on a 30,000 sq. m plot and will create approximately 180,000 sq. m built space embedding retail, offices, hotel, conference with other multifunctional facilities and 90,000 sq. m underground car parks.
The first two years of preparation phase will not require significant financial contribution from partners, except purchase price of the quotas and financing the preparation. The project phases can be tailored to the market needs. proposal for phase I. is total 90k sq. m with retail and limited office area. The value of phase I. is euro 160m excluding site costs. (note: phasing can be revised. phase i can be smaller or larger according to the actual market needs).
LOCATION: the site enjoys a highly prominent, prime location at north pest part of the city, with direct link to underground station and outstanding infrastructure. catchment area population is 462,000, total daily volume of the junction by public transport and cars is 429,000 people while 60,000 people are having their workplaces in the 1km radius. Further advantage is that the site is located in the center of Vaci út boulevard where most of the Budapest’s ‘a class’ offices are found. The closeness of the danube makes this a premium site, which has long been designated as the primary site for such a large-scale landmark development project.