The National Bank of Hungary (MNB) has acquired a 2,100 sqm villa in Budapest’s 12th district through one of its foundations, called Pallas Athena Geopolitical Foundation. The property will host the foundation’s education and scientific research center. The transaction amounted to more than HUF 1bn. The vendor was Wakefield Ltd, which portfolio.hu claims was registered on the British Virgin Island.
The purchase by Hungarian National bank follows its acquisition of a property in the Castle District of for around HUF 800m. These transactions are a part the first phase of a plan by the bank to spend HUF 160bn on acquisitions. In the next phase, HUF 90bn will be spent on further acquisitions and refurbishments.
