"Preparations to build one of Hungary's largest golf courses, with a HUF 10 billion (EUR 39.55 m) investment, have begun at Páty (outskirts of Budapest), the mayor of the Pest County settlement announced yesterday.András Bognár has told local newswire MTI that project will be financed by a Belgian investor, but he has not specified who.
The complex will be situated on a 120-hectare site, a former field. It will include an 18-hole golf course, which will be suitable for international competitions, and other units - a hotel, a restaurant, leisure facilities and a “golf village" - on a 20-hectare plot.
Price negotiations are underway with about 90 owners of the area. The complex, which is expected to be completed by 2011, is to give work to 300-400 locals.
Bognár said the operation of the golf centre would bring Páty around HUF 500 million in taxes a year."
Source: Portfolio Online Financial Journal
17.04.2008