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MNV consults with experts on property exchange for casino project

Hungary's national asset management company MNV has asked the opinion of experts on the exchange of properties by the government and investors who want to build a HUF 275 billion casino and resort on the shore of Hungary's Lake Velence, MNV said in a statement sent to MTI.

MNV is seeking the opinion of the experts to continue the professional debate over the value of the properties, MNV said. The decision of some professional questions are outside of MNV's legal scope of power, it added.

Joav Blum, one of the group of investors who plan to build the casino, earlier exchanged farm land he owned along the planned route of road no. 4 for a state-owned plot on the banks of Lake Valence.

The MNV noted that the central investigation agency had said in a report that there was a big discrepancy between the values of the two properties.

Earlier, the state audit office ÁSz deemed the contract legally invalid in an assessment, saying only a fraction of the farm land Blum owned was necessary for the road, and this could have been expropriated by the state. (MTI – Econews)