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Raiffeisen plans new Ft 20 bln-Ft 28 bln HQ in Budapest

Raiffeisen Bank Zrt plans to build a Ft 20 billion-Ft 28 billion office and residential complex to house its new headquarters in Hungary, CEO Péter Felcsúti told a press conference in Budapest on Tuesday.

Construction on the building will start in January 2007 and be completed by 2009. Four of Raiffeisen Bank's units will move into the complex.
The building, which is being designed by the Finta architect's office, will require a special permit from the city as its 32 stories exceed the current 78-meter height limit. Felcsúti noted that half of the offices in the building had already been sold.