The foundation stone has been laid for Market Central Ferihegy, Hungary's first integrated retail park during a special ceremony on Friday. The project represents an investment value of more than HUF 10 bn (EUR 39 mln) and is located on a 16-hectare site adjacent to Budapest's Ferihegy international airport. Developer AIG/Lincoln said it is treating the investment as a flagship retail development project as it is AIG/Lincoln's first retail project in Hungary and the first retail development of its kind in the country.

The foundation stone has been laid for Market Central Ferihegy, Hungary's first integrated retail park during a special ceremony on Friday. The project represents an investment value of more than HUF 10 bn (EUR 39 mln) and is located on a 16-hectare site adjacent to Budapest's Ferihegy international airport. Developer AIG/Lincoln said it is treating the investment as a flagship retail development project as it is AIG/Lincoln's first retail project in Hungary and the first retail development of its kind in the country.

The Market Central name has been branded by AIG/Lincoln for its portfolio of 'power centre' regional and urban shopping centres, specially developed for the European market. 'In contrast to enclosed mall shopping centres, Market Central offers a return to a more traditional town shopping environment with direct access from ground-level parking to the shops of choice along a covered walkway,' AIG/Lincoln said. The format integrates the largest possible variety of retail shops, ranging from the larger 'big-box' stores (Tesco, Praktiker DIY superstore) to smaller boutiques and restaurants. A 20,000 m2 office park will be constructed in several stages at the Budapest-side of the site.

AIG/Lincoln was established in 1997 as a strategic partnership between New York's AIG Global Real Estate Investment Corporation and Dallas-based Lincoln Property Company; Dallas to acquire, develop and manage real estate in Europe, with a strong focus on the Eastern and Central European markets.