Property developer to build bicycle shopping centre in South Budapest

Property developer Indotek Group will build a 10,000sqm shopping centre geared towards cyclists, called Pedal Market, in South Budapest for HUF 1.1bn, business daily Vilaggazdasag wrote on Wednesday.

Indotek will start construction at the site of the former Csepel Metal Works in 2013 and plans to complete it in 2014. Pedal Market will feature 6,000sqm of commercial area available for rent. The plan to finance 60pc of project costs from selling the plots in advance and finance the remainder with their own money.

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