News Article Budapest development Hungary investment land Metrodom residential
by Property Forum | Investment

Local residential developer Metrodom has bought a 15,000 sqm plot on Budapest's Soroksári út, where it plans to build a new residential quarter, property advisor CE Land, which brokered the deal, announced.

Abubplast Zrt. has sold a 15,000 sqm industrial plot in District 9 on the corner of Soroksári út and Vágóhíd utca, across the road from the National Theatre, to Metrodom.

The 1.5-hectare former industrial site allows for a gross construction area of more than 40,000 sqm. The buyer, Metrodom, plans to develop a residential quarter on the land.

With the new project, the development of Soroksári út near the Közvágóhíd area continues. Following the construction of the National Theatre and the Ludwig Museum, office buildings replaced the previous industrial areas along Lechner Ödön fasor. With the investment now announced, development also continues across the road, where the most recent project completed was the Mill Park office building.