CEE sells 49% of Budapest project

Yuli Ofer's CEE real estate company completed the sale of 49 percent of an 850-unit apartment building it will build in Budapest to the Landmark Group for NIS 44m.

Yuli Ofer's CEE real estate company completed the sale of 49 percent of an 850-unit apartment building it will build in Budapest to the Landmark Group for NIS 44m. CEE will retain control of the other 51% of the project, which already has received all of the permits to begin construction. Landmark representatives said they expect sales of the apartments to reach some NIS 400m. and generate revenue of NIS 80m.