Philip Morris's Hungarian subsidiary, Philip Morris Hungary, has concluded the acquisition of a 7,000 m[sup]2[/sup] facility in the East Gate business park in Budapest for an undisclosed amount. The built-to-suit facility, developed by Wallis Real Estate, will be handed over to the cigarette manufacturer at end-2008. Global real estate consultant Cushman & Wakefield acted on behalf of Philip Morris.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
