Hungarian automotive company Rába Holding is looking for investors to finance a HUF 150 billion property development on a 43-hectare plot it formerly used as an industrial site in Győr. Dubbed Városrét, the project aims to create residential, work and recreation facilities over the next 10-15 years.
Rába is primarily interested in selling the site to a property developer, said István Pintér, president and managing director of Rába. Rába prefers to sell the property because it wants to stick with the company’s original business, vehicle making, Pintér said.
The project can be implemented in several steps, in which case it can be financed without a loan, he added.
Rába will start looking for investors from September, 2011.
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