|
contents | business | |||||||||
| Orco opens up to public a hidden architectural gem in Budapest A new premium shopping & lifestyle galleria will be constructed in the former home of the Budapest Stock Exchange, on Vörösmarty Square right in the heart of downtown Budapest. Owned and developed by Luxembourg-based real estate developer Orco Property Group, the new "Váci1" is due to open in Spring 2010. The original splendour of the building will be restored in a unique and contemporary style designed by world renowned French architect Christian Biecher, in cooperation with the prestigious Hungarian architect office, Kőnig and Wagner. The Palace of the Budapest Stock Exchange was constructed between 1911 and 1915, based on the plans of famous Hungarian architect Ignac Alpar. Registered by UNESCO in 1933 as a World Heritage site, the building is subject to official monument protection laws. Such restrictions only served as inspiration for the architects of Váci1 rather than a hindrance. Accordingly, the plans give a new, image-rich, inventive and excitingly fresh look to the interior of the building which so far has only been known from the outside to most people. Following it's restoration and reconstruction the building will provide over 11,000sq.m. of retail, dining and lifestyle space. Orco aim to attract premium and unique retailers giving a tenant mix that will differentiate Vaci 1 from other retail destinations. There will be a rooftop restaurant with breathtaking panoramas of the sights of central Budapest. It will also provide 6,000sq.m of common areas for strolling, sitting and escaping from the intense heat of the Summer and the wet and cold of the Winter. write your comments about the article :: © 2008 Construction News :: home page |