So far, the Belgian company, Atenor, has been known for its office buildings in Hungary; however, the company has now entered the housing market as well with a gigantic high-quality project of more than 1,300-apartments in the southwestern part of Budapest.
After several years of preparation, the company is proud to present its latest investment, the so-called Lake City in South Buda.
The luxury project will be carried out in the 11th district of the Hungarian capital, one of the most popular residential districts of Budapest.
As the Hungarian news portal Portfolio reports, as its slogan “Acting for Cities” says, Atenor’s philosophy is to understand cities and explore and serve them with all the related sciences. The company intends to be differentiated from competitors with their size, quality and density of construction of apartments, satisfying the colourful demand of potential customers. Of course, this means a more expensive solution, as the cost per square meter of living space will be slightly higher, as far fewer apartments will be built in a given area. However, this leaves a much larger space for green areas, along with a small river and a lake, representing a completely different quality.
As Atenor.eu reports, after the UP-SITE BUCAREST project in Romania, LAKE CITY in Budapest is the second residential projects that Atenor intends to develop in Central Europe. The project implementation will start with year-long land development, planning the exact number and position of the buildings to be built. As a result of the value-added process, the land price will increase drastically, at least double that of its current value.
Atenor has pointed out that they have not been late in handing over any building in the last 13 years; therefore, the trust factor in their case is guaranteed.
According to the company’s plans, they will appear on the market with prices per square meter around EUR 2,580-2,720 (~HUF 950,000-1 million) that equals the current average price in Budapest’s new housing market.
The company also added that for the quality they provide, this is an extremely affordable price. However, for a housing project that lasts for several years, a further price increase can be expected in the future, depending on the real estate market situation.
Regarding parking, the project aims to provide parking places for 1.5-2 cars per resident since the company expects customers who have at least one car. The issue of the kindergarten, doctor’s office and other infrastructural developments around the enormous investment is still under discussion with the local government.
Source: portfolio.hu; atenor.eu