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Hungary property developers establish association

Hungary's biggest property developers have established a professional association to ensure that regulations for the segment are transparent and stable, the association, called the Property Developers Roundtable Association (IFK) said on Monday.

The founding members of the association include Ablon Ingatlanfejlesztő, AIG Lincoln Gazdasági Fejlesztési, Biggeorge's, Futureal Development, GTC Magyarország, ING Magyarország Ingatlanfejlesztő, IVG Development Hungary, Orco Vagyonkezelő, Skanska Magyarország Ingatlan, TriGránit Fejlesztési and WING Ingatlanfejlesztő and Beruházó.

The founders have developed a combined 2.3 million square meters of rentable space worth more some €4.7 billion, including 1 billion square meters of office space, 400,000 square meters of industrial space, 400,000 square meters of trade space and 200,000 square meters of residential space. (MTI-ECONEWS)