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Swedish-Hungarian JV to build Ft 10 bln golf resort near Lake Velence

Sweden's Tommie Tumba Golf Design AB, a designer of golf courses, has teamed up with Hungarian real estate company Roll'ing Kft to build a Ft 10 billion golf course and resort near Hungary's Lake Velence.

The companies broke ground for the project on Friday and expect to complete it by May 2008. The resort will be built on 174 hectares in the Vértes hills, with a 27-hole golf course taking up 123 hectares of this. The area will also feature a riding course, football pitch, tennis courts and recreation centre, a spokesman for the project company, Hungarian Golf Development, said. The resort is expected to create 50 jobs initially and another 100 later on.