Property Market Real Estate Development Ltd. announced the appointment of Mihály Schrancz as managing director, and named Bence Nádasdy he managing director of Kopaszi Gát Ltd., the groupʼs asset management company, according to a press release sent to the Budapest Business Journal
The appointments are effective from May 1.
Both Property Market and Kopaszi Gát were managed by Gergely Árendás until May. According to the press release, he will continue to work with Market Group on real estate issues.
The owners have decided to create a new organizational structure in order to successfully establish the BudaPart neighborhood and other large-scale real estate development projects and to achieve long-term goals.
So far 266 apartments in two residential buildings and a 20,000 sqm of office space have been handed over in the BudaPart neighborhood.
A further three residential buildings and two office buildings are under construction.
As part of the investment, another 20 buildings are planned to be developed.