Africa Israel buys Budapest plot for EUR 105m

Africa-Israel's European unit has signed a memorandum of understanding to buy a 81-acre plot of land in Budapest for EUR 105 mln. The company, controlled by billionaire Lev Leviev, is planning to build a 506,000 m² multi-use project on the site, Africa Israel Properties stated.

AFI Europe is also purchasing a Bulgarian company for EUR 52.2 mln, news agency Reuters reported. The undisclosed Bulgarian company owns a real estate project in Bulgaria covering some 40,000 m² of office properties, as well as building rights for an additional 160,000 m². Two of the office buildings are still under construction. Africa-Israel will pay other EUR 25 mln on completion of the two assets.