by Property Forum | Investment

International Investment Bank (IIB) and DOB-68 Zrt. in full accordance with the requirements of the Hungarian legislation signed the documentation on the acquisition of the historic Lánchíd Palota building in Budapest. The building will house IIB’s international headquarters.

The Hungarian Capital Markets team of Colliers advised IIB on the acquisition.

Constructed in the 19th century, this neo-Renaissance building is located on the bank of the Danube river, at the foot of the Buda Castle. The architectural ensemble, which Lánchíd Palota is a part of, is listed as a UNESCO World Heritage Site.

The International Investment Bank is a multilateral institution for development that promotes social and economic development, prosperity, and economic cooperation between its member states. The Bank is an international intergovernmental organisation that enjoys tax-free and regulation-free status, as well as the support of its member states' governmental bodies. The members of the Bank are the Republic of Bulgaria, Hungary, the Socialist Republic of Vietnam, the Republic of Cuba, Mongolia, the Russian Federation, Romania, the Slovak Republic and the Czech Republic.