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Atenor enters Budapest residential market

Residential

Photo by Fabio Balbi / Shutterstock.com

Belgian-owned real estate development company Atenor has signed an agreement relating to the acquisition of new plots in the District XI of Budapest for a total area of 82,861 sqm, looking to enter the residential market with a new project called Lake City, according to a press release sent to the Budapest Business Journal.

Lake City is located in the Southwestern part of Budapest, one of the most popular residential districts of the Hungarian capital. It is situated in a green area bordered by a small river and a lake, close to the roads leading to Balaton and the Budaörs airport. The city center is easily accessible from the site via both car and public transport.

Atenor intends to develop 1,326 apartments in eight phases (total residential capacity: 92,183 sqm). The developer already has a valid building permit for the first phase.

Following this new acquisition, the number of Atenorprojects under development has increased to 32 and represents a development potential of approximately 1,300,000 sqm. The projects are located in Brussels, in Wallonia and Flanders (Belgium), in The Hague (Netherlands), in Luxembourg, in the Paris Region (France), in Lisbon (Portugal), in Düsseldorf (Germany), in Warsaw (Poland), in Budapest (Hungary) and in Bucharest (Romania).

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