Around the millenium, construction works began anew, but the new building was never finished and it currently remains a concrete torso lurching above the river on ground that offers some of the most spectacular views of the city.

Now, the property could finally be purchased and redeveloped by György Wáberer, one of the country’s top businessmen who has interests in the transportation industry. However, due to ongoing court cases surrounding the ownership of the building, the deal has not yet been sealed and the businessman is still awaiting a go-ahead from the local municipal authority.

Moreover, Mr. Wáberer is not the only party interested in buying the property according to its current owner, CIB Bank. The bank had established the building’s value at HUF 6 billion, but the entrepreneur would be prepared to pay less, acording to press reports.

According to information obtained by the news website Napi.hu, he plans to build four apartment buildings on the plot after demolishing the building, according to plans by architect Gábor Zoboki. The development is believed to carry a HUF 9-10bn price tag.

Source: hungarytoday.hu

Republished with permission