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Sedesa to spend billions of euros in Hungary

Spanish real estate group Sedesa plans to invest billions of euros in Hungary, Világgazdaság reported, citing Flóra Szabó, head of Sedesa Hungária Kft.

Sedesa, a family-owned business, will start building some 5,000 low-cost apartments for rent in towns across Hungary in the third quarter next year. That project will cost about €150 million, the paper said.
The Spanish company will also partner with Fadesa Inmobiliaria SA, Spain's second biggest real estate company, to build 15,000-20,000 flats and a convention center on Csepel Island in south Budapest, Világgazdaság said.
Sedesa is planning to carry out environment protection investments in Hungary such as waste and battery processing plants, Szabó added.