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InterEstate plans Ft 17 bln indoor water park in Budapest

Hungarian property developer InterEstate Zrt plans to build a Ft 17 billion indoor water amusement park, the biggest of its kind in Central Europe, on the outskirts of Budapest, CEO Katalin Pfandler told a press conference in Budapest on Thursday.

The 86,000-square-meter park, called Aquaworld, will be built near a new bridge, currently under construction, to span the Danube north of the city. It is expected to attract 6,600 people a day. InterEstate plans to complete the park by the summer of 2008.
Pfandler said InterEstate expects to recoup its investment in 10-12 years. InterEstate has been operating for 18 years. It invests Ft 6 billion-FT 8 billion each year.
The Wyndham Group will also build a five-star Ramada hotel at the site of the park, Wyndham Group vice president Olivier Dupont told the press conference. The hotel will have 660 beds and a conference centre suited for 550 people, he said. Currently, just two Ramada hotels operate in Hungary, one in Budapest and the other on Lake Balaton.