TriGranit, the TrizecHahn company which has a joint venture with Hungarian developer Polus Investment, has revealed plans for a $550m mixed project in Budapest.
This week TriGranit paid $9m for a 44,063m2 site alongside the river Danube for the New Millennium City Center.
It will include shopping, leisure, a congress centre, up to six hotels, a multiplex cinema and luxury apartments. The developers think the scheme could attract up to one million visitors a year.
AIG New Europe Fund also has a stake in the complex through its 35% stake in Polus. The $350m fund is backed by several European and North American financial groups to fund eastern and central European property projects.
EGi News 07/04/00
