TriGranit halved project pipeline

Property developer TriGranit halved the value of its under way project from E8 billion to E4 billion, as it had to suspend or postpone some of its investments due to financial tie-ups, said Sándor Nyúl operative CEO.


"We had a pipeline of about E8bn a year-and-a-half ago, and we have now focused on about 50 per cent of that and increased the pipeline's duration," Sándor Demján, the company's chairman, told the Financial Times.
The development of the Millenium Gate office building in Budapest will continue according to earlier plans but the hotel project for the same area has been suspended along with the WestEnd 2 project at Nyugati.

The BpSun Staff

12.12.2008