Mihály Schrancz, the CEO of Hungarian real estate development company Property Market has stepped down. The move was unexpected and no new leader has been announced yet.
Mihály Schrancz decided to quit Property Market Kft., a leading real estate development company, a member of Market Építő Zrt. He was one of the important leaders at the firm since its establishment in 2015. For many years, he was responsible for development projects and in 2020 he was appointed to head the whole company as CEO.
In a short statement about his decision, the owner of the group said that a different management structure is to be introduced. Further information will follow soon. The owner also added that the large-scale flagship project (BudaPart) at the river Danube will be continued as planned.
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