Prominent shopping mall in Budapest has been sold – Here are the plans!

Adventum International became known for its many purchases in the last few months. Recently, the company bought the Hungarian Köki Terminal (shopping mall), and the transaction reached 100 million EUR.

Adventum is a group of boutique investment fund management companies focused on Central European real estate investments, founded in 2006 and entirely owned by the management. It has been operating under the alternative investment management act with fund management companies established in Valletta and Budapest, and a total AuM in excess of 250 million EUR.

The Group’s personnel includes highly experienced real estate professionals with CFA, NRW and MRICS qualifications with a combined investment experience of 70+ years. The management has so far executed investments in the CEE region over a total value of 1.5 billion EUR.

Portfólió reported that the plans related to Köki Terminal include making it a core investment. Out of 6 billion HUF (17 million EUR), the mall would get a brand-new look.

Investors would like to make the building the main centre of entertainment, food, fashion and other facilities.

The necessary permissions have been provided for the project. Another important factor of making Köki Terminal different is the “green factor”: redesigning the mall into a more environmentally friendly centre. Adventum would like to deliver this project in 3–5 years.

Featured image: Youtube

Budapest’s Allee Shopping Mall gets a facelift for 16.5 million Euros

It has been recently announced that Buda’s most popular shopping centre, Allee will be renovated next year. The aim is to modernise the 10-year-old building. The project will cost approximately 16.5 million Euros.

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Source: www.portfolio.hu