The Group holds an indirect 43.5% interest in the "Dream Island" Consortium, which owns an area of land measuring approximately 350,000m2 located on the southern end of Obuda Island in the Danube River
Plaza intends to develop the plot into a business and leisure resort including 3,000 hotel rooms, 1,000 leisure apartments, a convention centre accommodating 3,500 delegates, a large scale American style casino (with approximately 150 tables), a 1,500 seat opera house, a 3,500 seat multi-purpose theatre, a marina with an anchorage for 300 vessels, a shopping and entertainment centre, a roman cultural museum, and parking facilities for approximately 5,500 vehicles
Initial excavation works commenced, completion staged scheduled for 2012-2014, with an estimated total investment of approximately �1.5 billion
The Group has a 50% shareholdings in the SPV that has a 87% interest in the consortium. The remaining members of the consortium are MKB Bank Nyrt (formerly Magyar Külkereskedelmi Bank Rt.) of Budapest, a leading Hungarian commercial bank (43.5% indirect interest), and a company controlled by the managing director of the consortium (10% direct interest) and a further 3% owned by another party and small minorities.
Project status: Modified Town Planing Scheme (KSZT) received following a referendum amongst the residents of the local district. Initial excavation workers commenced. Casino license for 20 years (+10 option) granted in May 2008.
Further information: http://www.dreamisland.hu/

Region: Hungary

Size: 350,000 sqm (for rent and sale)
Opening: 2013-2015
Project status: Planning and initial excavations