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Belgian's Atenor Group said it will start building a HUF 50 billion office on Váci Street, one of Budapest's main traffic arteries.
Atenor Group announced in November it would build the 85,000sqm complex on an old industrial site. The first phase of the investment, to comprise 15,500sqm of office space, a 9,000sqm underground garage and 1,000sqm of retail and service space, is expected to be completed by the autumn of 2012.
CFE Hungary is the general contractor for the project.
The festival has drawn almost 400,000 visitors in past years. (MTI Econews)