Portfolio

Commercial Development

Hungary

2019

Majority

project in progress

The „Hotel Hungaria“ project is executed by Hungarian company Premiot Property Group Zrt. which was owned by Europa Investment Property CZ a.s. until 22nd December 2020, which is when Premiot Property Group Zrt. purchased a plot of land of 3000 m2, obtained a building permit for building a hotel complex in Zugló neighbourhood in Budapest and created a feasibility study with the aim to enable building a hotel complex with the value of 1.4 billion CZK and total area of 24,000 m2 divided into five underground and six above-ground floors.

The hotel will have 303 rooms, a VIP suite, two congress halls, other commercial areas and 300 parking spots.

Premiot Property Group Kft. who owns the real estate where the hotel complex will be built, including the project documentation and effective legal permits, was sold to investment fund PREMIOT Capital Fund SICAV a.s. Realitní podfond PREMIOT I which is not part of the group and is owned directly by Ondrej Spodniak who will ensure the hotel construction.

Europa Investment Property CZ a.s. is participating in the complex construction by financing and providing personal and financial management.