EUR 2 billion Dream Island Project

Álom Sziget Entertainment Zrt. has won the gaming concession and can now go ahead with its “Dream Island” project on Hajógyári sziget.

The company – which is owned by a consortium including Plaza Centres BV, the Israeli company behind the ubiquitous edge of town shopping centres across Hungary – plans to turn the area into the Las Vegas of Central Europe. Álom Sziget Entertainment Zrt. owns the southernmost third of the island, famous as the site of an annual week-long pop music festival.

As well as a huge casino – which the developer is now licensed to run for 20 years – the project will create 3,000 hotel rooms, 1,000 holiday apartments, a 3,500 seat convention centre, an opera house and a 3,500-seat theatre. There will also be a marina with moorings for 300 boats. The development is expected to cost around HUF 500 billion (EUR 2.08 billion).

Source: The Budapest Times

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