Spanish real estate developer Sedesa is to embark on a HUF 100 billion (EUR 392.4 m) project on a 252-hectare (622-acre) site at Hungary's Sávoly.
Spanish real estate developer Sedesa is to embark on a HUF 100 billion (EUR 392.4 m) project on a 252-hectare (622-acre) site at Hungary's Sávoly, daily Magyar Hírlap reported on Thursday.
Sedesa is to build a logistics and industrial park on 102 hectares, as well as a residential area, two hotels and an 18-hole golf course on 150 hectares, the paper said.
Sedesa picked Sávoly (southwest Hungary) because it found it an optimal location for its favourable traffic and transportation position (the town is situated along the main European route between Moscow and the Adriatic).
Another important factor was that Sávoly is close to motorway M7 (the stretch leading there is scheduled to be completed by June 2008) and the Sármellék airport. M7 will go right through the Sedesa project area.
Spa tourism is also to play a key role in the company's plans, as Sedesa found thermal water of 95 degrees Celsius on the project site. It plans to use waste heat of the thermal water to heat the golf course.
Sedesa has in the past months bought up a number of properties along Hungarian motorways. Sedesa Vice President Vicente Cotino said that in the years to come they would build 7,000 residential condominia in about a dozen Hungarian cities each.
