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Land owner realigned to become a property developer

2010.07.01.

CBS Property Zrt, the majority owner of which are US and UK based private equity firms, is a unique player in the Hungarian real estate market with nearly 10,000,000 m² of property that was restructured last year.

The company was restructured to become a major property developer mainly in Budapest and its outskirts besides being identified as a leading land owner. The company has commenced the preparation of developments at three major locations, the total development value of which exceed 500 million euros. The first project is planned in Tárnok, easily accessible from M7 motorway, where a villa park with detached and semi-detached houses would be built in a picturesque setting supplemented with some commercial units and educational institutions establishing a new quarter of the town. According to plans a mixed-use office and commercial centre will be developed on the 35-hectar site at the junction of M0 and Route 6; and the 70-hectar site at the border of Budapest and Érd at the junction of M6 and Route 6 will host a logistics centre.

The completion of the development projects are anticipated in the period from 2011 to 2017.

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