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Olimpia Group, the Hungarian unit of Nanette Real Estate Group NV, will build a €110 million residential complex along the Danube in Budapest, Bloomberg reported citing managing director Tamir Kishon.
Olimpia, which has already purchased the 75,000 square meter land together with Lehman Brothers Holdings Inc., will build the 1,800 homes over the next four years. Nanette, which is based in Amsterdam, builds homes in Hungary and Poland. The company sold ₤10 million of shares to the public and listed its stock on London's Alternative Investment Market in June.