CIB Group has entrusted the sale of the SZOT hotel on Rózsadomb (Rose hill) hill overlooking the Danube river to Cushman & Wakefield. CIB hopes toto find a long-term solution for the iconic property now that the prospects for real estate in Hungary are improving.
“Everyone living in Budapest is familiar with the former SZOT hotel,” said Michael Clark, Deputy CEO of the CIB Group. “It is in all our interests that this landmark site, which is such a defining feature of the cityscape, should be developed and takes finally pride of its place in the Rose hill panorama again.”
“Our goal is to find a visionary buyer for this unique land and structure who will contribute to the enhancement of the 2nd district through development of this site,” said Mike Edwards, Partner at Cushman & Wakefield in Budapest.
