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Investment group to build €1.5 bln tourist complex

  An investment group composed of US, Israeli, German and Hungarian entrepreneurs is planning to build a €1.5 billion tourist complex on a 70-hectare site located on the outskirts of Sukoro (central Hungary) near Lake Velence, the daily newspaper Népszabadság reported on Wednesday.

The investment group will announce details regarding the complex, to be called Kings City, at the end of March, though the newspaper has learned that it will consist of hotels and restaurants as well as a bath, golf course, casino and entertainment center. The tourist complex is scheduled to be completed by 2011.

The newspaper reported that the investment group obtained the formerly state-owned site for the planned complex located between Lake Velence and the M7 motorway in a trade for 183 hectares of orchard land in Pest Country. (MTI-Econews)