Tiborcz-affiliated private equity firm is converting a listed building into a hotel in downtown Budapest

The building at 2. Vámház körút was transferred from state ownership to the ownership of Estoril Property Kft. at a favorable price after several rounds.

According to the information board posted on the building's gate, the work could be completed by the end of October.

Opposite the Fővám Square Market Hall, just a few minutes' walk from the Szabadság Bridge, there is a listed building that has been owned by the state since 1952, and since 2009 through TIG Nkft. However, TIG was liquidated, and the property on Vámház Boulevard was sold and is now being converted into a 36-room hotel by a company owned by a private equity fund close to Tiborcz, writes Átlátszó. According to the newspaper, the company transformin…

The building near the Liberty Bridge was previously owned by a money-making state-owned company, and was then sold after its liquidation.