The construction of an underwater luxury hotel complex in Bonyhád has been approved by the local municipality, city mayor Árpád János Potápi told the MTI. Investor Trimp Holding Zrt had earlier planned its investment to Kiskunhalas, but the company could not find suitable land for the project. The five-stories, 28,000-square-meter hotel will cost some HUF 10.5 billion. Trimp has preliminary agreement with more than 10 privately owned companies that participate in financing the project. European Union funds will also be involved at a later stage, and bank financing is planned only for the last phase, the company said. According to the plans, the hotel, with three stories under the water, will be up and running by the end of Q3 of 2013. The total area of the investment is 7.9 hectares.