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POC buys out DAV from Premier Outlet Center

DAV, owned by Raiffeisen Group, has sold its shares in Premier Outlet – considered to be Hungary’s leading outlet center – to co-owner POC Kft., according to a press statement sent to the Budapest Business Journal today.

Located in Biatorbágy, near the border of the capital, Premier Outlet is the biggest store center selling out-of-fashion products, showcasing more than 120 domestic and international stores, the press statement says.

“With the sale of Premier Outlet Center, DAV has completed the third-biggest real estate transaction this year,” Zsolt Horváth of DAV said. “We have lived with the opportunities provided by co-owning the facility, and the unified ownership as the result of the transaction provides a sufficient base for the further development of the facility,” he added.