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A brand outlet mall will open in the Material Center building on Budapest's Róbert Károly boulevard in the first half of 2012, Colliers International Hungary, which is renting out the property, said on Tuesday.
Grand Fashion Outlet will have about 50 shops.
Material Group built the structure as a home furnishings store in 2005 at a cost of €35 million. It was later expanded with offices, a fitness centre and a go-kart track.