Friend of Viktor Orbán acquired Kopaszi dam

According to mno.hu, after nearly 1 year of negotiations Market Asset Management Kft. – belonging to Market group – and River Dunainvest Kft. bought Kopaszi Gat Kft. The 56-hectare property area in the 11^th district is owned by Hungarians again – Market said.

Previously, the area was owned by a group of Portugal companies: Mota-Engli, Finibanco and Estia.

Market Asset Management Kft. can be linked to István Garancsi, owner of Videoton football club. The friendship of the hiker billionaire entrepreneur and Viktor Orbán began in 2009 when they climbed mountain together in Austria – Hirtv.hu wrote.

The new owner continues to operate in the area under the same conditions: the Kopaszi dam has to serve as a leisure resort, while residential and office buildings will be constructed in the areas currently out of order.

Gergely Arendás, CEO of Property Market Kft. pointed out that South Buda is very popular among people who seek home and offices, mno.hu wrote.

After the enlargement of the tram line 1 and metro line 4 the area is more easy to approach, and that enables to create a new, multi-functional neighborhood in South Buda – Arendás said.

According to him, Property Market Kft. has been working on the preparation of the development and details are expected to be presented in the first quarter of 2016.

Mno.hu knows that István Garancsi bought the Kopaszi dam on credit offered by the state-owned Eximbank. According to valasz.hu, the bank provided EUR 52 million (HUF 16.5 billion), which is two and a half times more than the money received by Andy Vajna to purchase TV2.

The original mission of Eximbank (Export-import bank) is to help the Hungarian exporters with funding, but these credits have nothing to do with foreign trade, valasz.hu wrote.

Photo: Tambo/Wikimedia Commons

Copy editor: bm

Source: http://mno.hu