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Israel's Sybil Holding broke ground on Wednesday for a Ft 6 billion strip mall and recreation center on the site of an abandoned cable factory in Budapest's District 11.
The center will have 15,000 square meters of retail space and 11,000 square meters of recreational and entertainment facilities, managing director Motti Peretz said.
Sybil Holding and developer Sajó Investment bought the site in December 2004 for €14.5 million from Italy's Pirelli.