MNB to sell Eiffel Palace to highest bidder

Analysis

The National Bank of Hungary (MNB) announced on Thursday an open tender for the sale of the Eiffel Palace office building in central Budapest, Hungarian news agency MTI reported.

‚ÄúThe only criteria for assessment of bids will be the highest price, which allows for both an objective and transparent evaluation,‚ÄĚ the MNB said.

‚ÄúThe MNB will only decide to sign a contract of sale if it ensures that the investment is recouped,‚ÄĚ it added.

The MNB bought the Eiffel Palace for net EUR 45.3 million in the summer of 2014, after the century-old building had been completely restored and converted into modern offices. Current tenants include Big Four professional services consultancy firm PwC and the British Chamber of Commerce in Hungary.

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