July 13, 2020
Completing the transformation into a real estate investment fund (REIT), 1 million SunDell shares with a nominal value of HUF 100 each were marketed on the Budapest Stock Exchange in the BSE Standard category.

The appearance of the first “greenfield REIT” is a milestone in the Hungarian real estate market.

We were committed to effectively reorganizing our former project companies and creating a centrally managed, transparent company, SunDell, whose name can be linked to our high-quality residential projects. Because our goals and commitments coincided with the requirements expected of real estate investment funds, which companies are taxed in a more favorable, understandable way, we chose not to simply be a plc. but to continue to operate in the form of a real estate investment fund. We will continue our residential park investments in the future as well. We have not yet raised new capital through the stock exchange, but we plan to issue bonds in the near future and introduce them to the BSE within the framework of the MNB's NKP program.

András Piukovics | Chairman of the Board