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Elephant Holding launches Ft 6.5 bln housing project

Elephant Holding Zrt has recently started a new housing investment, the business daily Napi Gazdaság reported.

The company is to build 340 homes at a cost of Ft 6.5 billion in Budapest's District 18. The residential park, called Zaragoza Garden, is financed by MKB Bank Nyrt and is to include various kinds of homes, ranging from small flats to two-floor exclusive penthouse apartments. Elephant Holding has already sold 60% of the homes to be built in phase one, scheduled to be completed by Q1 2008.