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SCD sells Budapest properties to company owned by Kristóf Nobilis

Fortis Private Equity, a unit of property developer SCD, has sold properties in Budapest to a company owned by Hungarian businessman Kristóf Nobilis, the seller told MTI.

Fortis did not reveal the transaction price, citing business confidentiality.

SCD founder and part owner Gellért Jászai decided to sell the real estate in the capital because of the outlook for profitability of the property development market, the crisis and the slowdown in banks' lending activity, according to the statement.

The transaction included the Akadémia Park development in Budapest's District II, and the Klothild Palota and the Párizsi Udvar buildings in the city center.