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Fadesa plans €43 mln residential building in Király utca

Spanish property developer Fadesa plans to build a €43 million residential building in Budapest's historic Király utca, Fadesa president Manuel Jove Capellan announced in Budapest on Monday. The building, called Central Passage Budapest, will include 271 homes, as well as shops and offices. Irish, British and Spanish investors have already bought some 20% of the apartments. Fadesa will open its own Budapest office at the same time. Fadesa has other property development projects in Poland and Romania, and aims to expand further into the Czech Republic and Slovakia.
Fadesa, which has built homes in Spain for more than twenty years, had net profits of €120 million on revenue of €686.5 million last year.