Europa Investment Property, which is part of the Premiot investment group, is building a hotel complex in Budapest for 1.3 billion korunas. The hotel designed by Hungarian architectural studio S.A.M.O. is being built on a plot of 3,000 m2. With a total floor area of 24,000 square metres, which is divided into five underground floors and six above ground floors, it is the largest hotel development in the Hungarian capital.
The four-star hotel with 303 rooms, VIP suites, two congress halls and other commercial spaces will be built in the Zugló district, home to a number of international companies. Siemens and BMW have offices in the same neighbourhood, and the leading Hungarian developer Wing is also building a large office project there. The company was granted a building permit in July 2020, and negotiations with a leading international hotel chain, which is to operate the complex, are now underway. The project is expected to be completed in 2023.