A letter of intent has been signed about cooperation between the Municipality of Zugló and Echo Investment which will be undertaken during building 5 000 square meters of park, a new and environmental friendly shopping and entertainment center, a brand new sports center, and renovating the complete neighborhood of Bosnyák tér. Detailed scope of common works will be discussed and shortly presented.

“We are proud that through the building of Mundo Gallery, we can be part of developing the new city center of Zugló. According to our expectations, the construction of Mundo provide more than 1 500 job opportunities in Zuglo, while the functioning shopping center will create more than a 1 000 jobs. This means that around one quarter of all job seeking people in Zuglo will be able to find a job in Mundo Center. So whith this investment, we are not only building a new city center, but also aiding the economic upheaval of the district. We are confident, that the new shopping center will be an integral part of life in Zuglo on the short term”- Said Ahmet Cetin Project Manager on behalf of Echo Investment.

Ferenc Papcsák, the Mayor of the XIV.th district has emphasized: “This agreement is an important step in theprocess that will make Bosnyák tér, the new main square of Zugló. The first phase had been completed, when finished the construction of the Páduai-Szent Antal church and the square behind it. The next steps are renovating the market, building the commercial and service center and the construction of the new Lantos Mihály multi-functional sports center. We are of the view, that this project will benefit every resident of Zuglo, as other renovating and building projects will start as well, raising the property values in the whole neighborhood.”

Echo Investment has announced that the construction of Mundo Gallery, which will be 107 000 square meters big in total will start early next year, and is expected to be completed by 2018. The newly constructed shopping center will include around 170 stores, a multiplex movie complex and about 1 350 parking spaces. Details of the Mundo Gallery project will be fully presented in coming weeks.

(Source: OGH)