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Budapest generates HUF 2.8 bln from property sales

The Budapest local council has generated net revenue of HUF 2.8 billion from property sales so far this year, Csaba Gál, who heads the local council's assets management company BFVK, told MTI.

Sales of property expected to be closed soon will bring in another HUF 1.1 billion, and tenders or auctions are being prepared to sell properties worth more than HUF 11 billion, Gál said

Gál told MTI earlier that sales of property owned by the Budapest local council are expected to generate revenue of HUF 14 billion in 2009, up from HUF 6.3 billion in 2007, when the target was also HUF 14 billion. (MTI – Econews)