CEE investor Nanette has signed a preliminary agreement to purchase a 3.24-hectare plot of free hold land, which is located in the 9th district of Budapest. The group plans to build approximately 1,800 apartments on the site, with a net saleable area of around 90,000 m[sup]2[/sup]. Total costs are estimated at EUR 115 mln. In a statement, the company said that the plot is already designated for residential use and it expects to raise proceeds of EUR 145 mln from the sale of the apartments.
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