ING Real Estate will develop Vörösmarty Square in Budapest

Recently ING Real Estate signed a contract for the construction of a multifunctional block of buildings in the old center of Budapest, the capital of Hungary.

The site of the project is the tourist heart of Budapest, the so-called Vörösmarty Square. The site is currently occupied by a concrete, ten-story office building built in the sixties, which will be torn down at the end of 2003. The façade of the new building will be more in line with the nineteenth-century buildings on the square. There will be an underground parking garage, shops, restaurants and cafés on the ground floor as well as a number of office floors. The top two floors will have luxury apartments, possibly with roof gardens. The new building is scheduled to be completed by the end of 2005.

This prestigious project is an example of public-private partnership between the Hungarian Foundation for Art and Free Education and ING Real Estate. For the design of the new building, ING Real Estate wishes to attract an internationally recognized architect.

(source: ING Real Estate)

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