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Former cable factory to be transformed into shopping precinct

The real estate assets of disfunct cable manufacturer Magyar Kábelm?vek Rt, located on Budafoki út, have been acquired by Sybil Holding, an Israeli real estate developer, and Hungarian Sajó Investment Rt. The assets were sold for Euro 16 million in total, László Kemenes of Pirelli?s real estate agency CB Richard Ellis told BBJ Online. In Kemenes?s information, Sajó Rt is planning to realize a Ft 30 billion residential real estate project on the property it has acquired, while Sybil Holding will reconstruct the 1,600 manufacturing hall and convert it into a shopping center.