April 3rd, 2009

Ablon to complete Ft 19 billion Budapest hotel/shopping project by year-end

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Property developer Ablon told MTI it plans to inaugurate a HUF 19bn hotel and shopping centre on Blaha Lujza Square, in the heart of Budapest, at the end of the year.

Shops will take up 6,000 square metres on the lower three floors of the building, and the Marriott Courtyard hotel will take the upper floors.

The building will have a 300-space underground car park.

The development is at the site of the former state-owned newspaper publisher Hirlapkiado Vallalat.

Ablon is one of the biggest property developments in Central Eastern Europe. In Hungary, the company has built the Gateway Office Park, Business Center 99, the Buy-Way shopping centre and the Airport City logistics park.

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