If you happen to walk around the Normafa area, you may hear the noise of construction from what was known as the Svábhegy Sanitarium for decades. A new residential area is being born, one that will certainly attract the rich&famous of Hungary. János Gárdai, the Managing Director of White Star Real Estate gave Diplomacy&Trade a glimpse into what is being developed behind closed doors.
DIPLOMACY&TRADE How feasible is it to renovate a hundred-year old building to create a luxury villa park in Budapest?
JÁNOS GÁRDAI White Star Real Estate group takes pride in preserving the treasures of the past centuries and developing real estate that will stand the test of time and deliver enduring value. One example is Markó street 9: it used to be an electrical transformer building under protection as a historical monument that we turned into a Category A office building preserving the historical character and adding special interior design elements. The property on Svábhegy that we are turning into luxury homes, used to serve as a sanitarium for children. When you walk down the magnificent main building – even in its present, run-down state – you feel its elegant past, every cornerstone tells a story. We are confident this will attract potential residents.
DIPLOMACY&TRADE The property itself has a unique history.
JÁNOS GÁRDAI Indeed. The property was owned by Baron József Eötvös, a Hungarian writer and statesman. The whole Svábhegy neighborhood was popular among the aristocracy of the 19th century. We aim to bring this feeling back by preserving the magnificence of the monumental main building and creating six additional villas that match the elegance of the central residence.
DIPLOMACY&TRADE You may be creating a new favorite home for Budapest’s aristocracy.
JÁNOS GÁRDAI That is the plan. Eötvös12 is a unique project developed for the lovers of the luxury lifestyle. We believe that we are building livable and elegant homes on one of the most prestigious locations of Budapest. The villas are developed in a unique green surrounding, with 3.5 hectares of beautifully landscaped gardens of abundant, mature trees.
DIPLOMACY&TRADE It will actually feel like you live in a forest.
JÁNOS GÁRDAI The area, with its abundant natural forests and green hills, is a very popular place for leisure activities and excursions and the site itself offers excellent air quality, direct garden access and breathtaking panoramic views. Car traffic will be confined below ground, so it will truly feel like living in a forest.
DIPLOMACY&TRADE Besides the location and the surroundings, what makes Eötvös12 a unique residence?
JÁNOS GÁRDAI The villa park will be a link between heritage and modernity. Every care has been taken to ensure that residences in both the historic art déco style main building from the 1920s and the 6 modern villas will be the most up-to-date, elegant, serene and attractive in Budapest. The needs of all types of residents, whether couples, singles or families will be met owing to the variety of well thought-through, exclusive amenities and facilities on site.
DIPLOMACY&TRADE What do you mean by exclusive amenities?
JÁNOS GÁRDAI From the spacious and elegant communal areas and reception services to a cigar salon, equipped fitness room and leisure islands many small services will support the well-being of residents. The elegant interior design solutions, state-of-the-art building materials, large terraces and window surfaces, technical and smart home solutions and layouts adapted to the latest international trends will make these homes truly exceptional.
DIPLOMACY&TRADE Should we rush to secure an apartment?
JÁNOS GÁRDAI Well, I wouldn’t wait. We are just starting the construction; residents will be able to settle in the second half of 2022. There are only 107 apartments and we have sold 10% of them already.
DIPLOMACY&TRADE Who are the developers behind the project?
JÁNOS GÁRDAI White Star Real Estate has been present in the Central and Eastern European region for two decades, and we are an active part of the real estate development and management industry in Poland, the Czech Republic, Slovakia and Romania, as well as in Hungary. In the past 20 years, we have developed some 2.3 million square meters in more than 50 successful projects. Cain International focuses on gateway and opportunity cities in growth markets. The firm’s collaborative approach with established local partners has resulted in an international portfolio of investments, joint ventures, and developments. Cain International’s US portfolio includes projects in Miami and Beverly Hills, its European investments span London, Barcelona, Dublin, Krakow, Madrid, Warsaw and now Budapest.
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