Miller Developments and local partner Raiffeisen have started work on the Budapest Factory Outlet Center, the first of its kind in the Hungarian capital.
Nike has signed a pre-letting on a 9,700 sq ft (900 sq m) unit, and other pre-lets at the 145,315 sq ft (13,500 sq m) phase one include Tom Tailor, Calvin Klein, Camel Active, Mexx, Budmill, Fila, Levi’s/Dockers, Vans and Mustang.
Budapest Factory Outlet Center is being built on a 40 acre (16 ha) site at Biatorbagy at the junction of the M1 and M0 motorways. Completion is expected in October.
Miller Developments managing director Phil Miller said: ‘With Hungary joining the EU, interest from international retailers is at an all-time high.’
GVA Grimley is advising Miller/Raiffeisen.