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Israeli Bonei Hatichon Civil Engineering and Infrastructures Ltd. has made its first deal in Hungary.
The company and a partner have bought a 122.5-acre lot in Budapest for €10.8 million ($14.3 million). They also have an option to buy an adjacent 137.5-acre lot for €3.6 million. The lot is zoned for 1,300 apartments and 70,000 sq.m. of commercial space. Bonei Hatichon said it and its partner plan to invest €188 million ($249 million) in the project, and expects €250 million ($332 million) in proceeds. (globes.co.il)