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Hungarian Government Initiates Sale of Prime Downtown Properties
The Hungarian National Asset Management (MNV) has announced plans to auction a portfolio of highly valuable buildings situated in the heart of Budapest. The revelation, detailed in an MNV brochure, outlines the government’s intention to divest several significant state-owned properties.
Key assets slated for sale include:
The Ministry of the Interior complex: This property comprises three buildings located on Széchenyi Square, covering an area of approximately 35,000 square meters.
The Ministry of Finance building: this structure is centrally located on József Nádor Square.
A Garibaldi Street office building: This building was previously utilized by the Prime Minister’s Office.
The Hungarian State Treasury headquarters: Situated on Hold Street, this building was constructed after 1900, based on the architectural designs of Ödön Lechner.
Initial reports,citing online sources,suggest that István Tiborcz,the Prime Minister’s son-in-law,may be among the potential buyers through his BDPST group or private capital funds.Tiborcz is noted for already possessing a substantial hotel portfolio in the downtown area.
However, BDPST Group has officially denied these suggestions to RTL News. Gergely Gulyás, speaking at a government details session, characterized the speculation as “extremely cheap mood.” He emphasized that in an open bidding process, where any party can submit an offer, it would be inappropriate for public officials to inquire about specific potential bidders like Tiborcz. Gulyás stated, “The one who gives the most money will win.”
Gulyás further indicated that the total expected revenue from the sale of these properties is HUF 102 billion. He highlighted that the former Ministry of the Interior complex alone, with its 35,000 square meters of building space, is valued in the tens of billions.
In response to the news, Péter Magyar posted on Facebook, stating, “After the world’s largest bank robbery, the Orbán family also turns to the last gems of national wealth. Now they are about to replace the name of István Tiborcz and his circles.” He pledged that if his party, Tisza, were to gain power, they would review and reverse the sale of each palace.
Further details regarding the privatization of these downtown palaces have been published previously.
