Only one of five shopping malls currently planned for the Budapest market is likely to be completed this year, writes napi.hu.
While the portal reports that Allee, located at the site of the former Budai Skála department store, will be opened in 2009, completion of the other four malls – Corvin Atrium, Mundo, Terminál and Neo – has been delayed until next year or later. This in turns suggests that a balance in supply and demand can be expected to appear in 2011 or 2012, according to real estate consultancy GVA Robertson.
Construction work on Zugló’s Mundo and Terminál – also located in the district at the Mexikói út station – has not been started. Plans for the €150 million investment on Bosnyák tér have been modified in accordance with requests from the local government and residents, and the new concepts will be discussed on September 29. In the case of Terminál, the investor asked the local government to reduce the number of parking spaces by 50%, which the local government did not approve.
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