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DunaCity ready to go

The biggest, Ft 250 billion investment project of the Hungarian capital, DunaCity is cleared to launch, after infrastructural developments on the premises of the investment, on the last large building site of the Pest side of the Danube, draw to their completion.

The Ft 1.5 billion investment in infrastructure makes it possible to establish a 500,000 square meter building complex instead of the 435,000, which was originally planned. The successful infrastructural investment also increased the possible size of green areas. The project management company established for the purpose is owned by Gropius and Questor, each with a 50% stake. The investment is to be completed in 15 years with Ft 250 billion in overall expenditure. Gropius Zrt closed the year of 2007 with an increasing turnover and with profits as well. Its net revenue exceeded Ft 15 billion, its profit before taxation amounted to Ft 700-800 million while its shareholders’ equity rose to Ft 4 billion. According to book calculations, stakes of Gropius in six other companies worth all together Ft 4 billion, but on the market, however, these shares worth Ft 15 billion. This year’s contracted portfolio of the company surpasses Ft 12 billion. These figures were reinforced by Gyula Csáktornyai president-CEO of the company. (Napi Gazdaság)