Váci 1 wins two FIABCI World Prix d’Excellence Awards


Váci 1, the neoclassicist palace rejuvenated by Horizon Development last year, was awarded with a World Gold in heritage restoration and a World Silver (Best in Europe) in retail development at the 25th FIABCI World Prix d’Excellence Awards, according to a press release sent to the Budapest Business Journal today.

Váci 1 is the first Hungarian project in the 18-year history of the world’s most prestigious property awards to receive multiple acknowledgements within the same year, Horizon says.

The winners were announced last Friday in Andorra la Vella at the 68th World Congress of FIABCI, the International Real Estate Federation. The world’s best real estate development projects were acknowledged in 13 categories at the celebratory event held in the ballroom of the Andorra Park Hotel, attracting hundreds of guests. The awards of the Paris-based international organization are considered the “Oscars” of the property industry.

“It is a tremendous honor for our company to have both our value preservation and commercial value creation potential recognized at such a high level by the professional jury consisting of 63 experts from 32 countries,” said Attila Kovács, managing partner at Horizon Development, reflecting on the recognition of the UNESCO World Heritage-listed Váci 1 building, which has been redeveloped from private equity. “Horizon Development is dedicated to reconnecting the heritage buildings of downtown Budapest into the urban fabric of the city. We are extremely pleased that our project is the first Hungarian development ever to receive awards in multiple categories, having competed against an international pool of high-caliber projects,” he added.

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