Austrian based Raiffeisen International Bank AG is planning on building a 110-meter (361 feet) building in north Budapest making it 14 meters higher than the Hungarian capital’s Parliament and St. Stephen’s cathedral, which are currently the tallest buildings in Budapest.
The complex will also include smaller buildings for residential and retail use, as well as offices for rent. The building is due to be completed by 2009 and will house 1,500 of Raiffeisen International Bank’s 3,700 Budapest based workers. The complex will have total floor space of 60,000 square meters (645,835 square feet) with a projected construction cost of about $134 million.
The building’s design have not yet been released by the architects as the ultimate building height still needs a special permit. Raiffeisen’s property unit currently manages about $862m worth of real estate making it control about 25% Hungary’s real estate market.
[Read the press release here]
[Architect website – Finta Studio]