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Balaton campgrounds worth more than HUF 20 bln under liquidation

Deals

Seventeen campgrounds valued at more than HUF 20 billion on the shores of Lake Balaton, earlier owned by property developer SCD, will be put up for sale in the coming months, business daily Napi Gazdaság said on Friday. Liquidator Vectigalis wants to get at least 70% of the appraised value of the properties. SCD bought the campgrounds from the state in 2004 and 2005. At the time, SCD announced plans to spend HUF 100 billion on tourism developments around the lake. In the summer of 2011, SCD said it sold its assets on Lake Balaton to Turisztika Hungaria, a company established with registered capital of HUF 500,000 a little before the transaction, and explained that it would concentrate on developments in Budapest.

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