PDS opening delayed again

As reported in the latest issue of CIJ, developer Orco has now fully let out the bottom third of its Paris Department Store in Budapest. But though the space is ready for its new retail tenants, Alexandra and Ahava, it remains to be seen when those stores will actually welcome their first customers.

A recent article (in Hungarian) in daily Napi Gazdaság reported that the grand opening, originally scheduled for late August, may now been delayed until October or November. At issue appears to be a HUF 500m (€1.8m) bill that Orco owes to construction company Market. According to the article, Market will not hand over the building until the developer pays up.

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