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A businessman from Qatar buys the luxury hotel of the Jordanians in Budapest

A businessman from Qatar buys the luxury hotel of the Jordanians in Budapest

The company of a 54-year-old Qatar businessman, although was only funded one week ago, already signed up for purchasing the building of the Buddha-Bar luxury hotel located in the heart of the Budapest, on the corner of Váci street. According to the documents, the offer for Budapest’s most expensive property was made by Nabeel Ali bin Ali Al Meslemani. The building was previously owned by the company of the Italian Beghelli family.

The owner of the property and the Jordanian operator company, Mellow Mood have announced together, that the Buddha-Bar Hotel will close on the 10th January 2019. The hotel was opened fairly recently, only five years ago, with the presence of the Hungarian Prime Minister, Viktor Orbán – can be read on 24.hu.

According to the announcement, the lease contract of Sameer Hamdan and Zuhair Awad was not renewed as the Italian owners planned on selling their property.

If you are interested in visiting the place before it closes, here is a dedicatory article about the food served in the establishment.

Buddha Bar Budapest Hotel

Photo: www.facebook.com/BuddhaBarBp/

Although the documents about the ownership of the property suggest that the purchase has already been successful. The company of the Qatar businessman, Aba Gate LLC have applied for registering the new ownership to the Hungarian land registry’s office.

It is interesting to note, however, that Nabeel Ali bin Ali Al Meslemani has a company with the same exact name in London, but that firm did not conclude any activities in recent years.

According to the recorded company data, the operator company of the real estate was debited with a long-term loan of 10 Billion Ft, approximately 31,250,000€. This might imply that the offer would be higher than this. The Beghelli family have established its wealth by manufacturing lights. The Beghelli Group was founded in 1982 by Gian Pietro. Since then, the company became one of Europe’s market-leading producers and suppliers of emergency lighting. Since the end of the 90s, the company became one of the most dominant companies in the market of general lighting and household products, such as light sources and rechargeable batteries. The main factories of the Beghelli family’s company are in Italy, the Czech Republic, Germany and China.

We also wrote about the renovation of the Klotild Palace, which the Hotel is located in.

Featured image: Wikimedia Commons by Thaler Tamás

Source: 24.hu

1 Comment

  1. jmester

    Does anyone know what their plan is with the property if they are closing it as a hotel? Who would know what they are planning to do with the furnishings??

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