Ablon to open €28mln strip mall north of capital in April
Monday, February 6, 2006, 17:58
Ablon, a property developer owned by Immoconsult, the real estate project financing company of Austria's Volksbank, announced on Monday it would open a €28 mln strip mall in Dunakeszi, north of Budapest, in April. Ablon expects the 20,000-square-metre strip mall, called "Buy-Way", to attract 1.5mln visitors a month. Ablon opened a similar strip mall in Soroksár, in the South of the capital, just two months ago. The 12,000-square-metre Soroksár Buy-Way cost €16 mln to build. In addition to retail property, Ablon includes residential, office and hotel buildings in its portfolio. Ablon owns 43,000 square metres of office space in Budapest and has construction-ready lots of 305,000 square metres. In Prague, Ablon owns 17,000 square metres of office space and has rights to build on 115,000 square metres.