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Dawnay Day invests in CEE real estate

British property investment and financial services group Dawnay Day is preparing to invest over euro 1 billion in the CEE real estate market through its newly established regional subsidiary Dawnay Day Carpathian, business daily Világgazdaság reported relying on the Financial Times. Hungary is among the key investment targets, along with the Czech Republic, Poland, Romania, Slovakia, Croatia and Bulgaria, where the company is focusing on retail space. Having bought four shopping malls in mid-sized Hungarian towns from Israeli developer Plaza Centers for Euro 57 million earlier this year, the company is gearing up for a new project that will create a new retail park in the satellite town of Budaörs, close to a logistics center it had acquired previously.