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.