Qatari-owned property investor Constellation Hotels Holdings agreed to partner up with Hungarian peer Property Market in an office and residential development in the south of Budapest, Hungarian news agency MTI reported today.

The project will be established on the 56-hectare area of Kopaszi Dyke, a public park on a peninsula in the Danube, which Market Group purchased earlier from Portuguese investors for an undisclosed amount early last year, supported by a loan from the Hungarian Eximbank. 

Constellation Hotels Holdings, registered in Luxembourg, has a number of five-star hotels and office buildings in Europe and the United States in its portfolio, MTI added.

Source: BBJ