It’s the first time that a Hungarian project got the first prize in the highest class of real estate development!
Rehabilitation of Ferencváros won the "Academy Award" of Real Estate Development: the grand prix of FIABCI Prix d’Excellence! This is the Oscar of the real estate profession and the biggest recognition ever. In the 61-year history of the organization, this is the first time that a Hungarian project won the "Master Plan" category. It’s a huge thing, because FIABCI is the largest and most comprehensive international real estate professional association that has more than 120 professional divisions in 60 countries worldwide.
Ferencváros rehabilitation program started almost a quarter of a century ago. During this time, more than 1,200 apartments has been renovated entirely, just as 76 thousand square meters of green space, and many old buildings got new function. They managed to stop the depopulation of this previously run-down part of the city, in fact, an intensive peopling process can be observed.
The rehabilitation project is still going on these days. Next to the city development, the rehabilitation also aims to stop the negative social processes associated with the deterioration of buildings. The key was to launch positive social and economic processes by raising the prestige of the area. The FIABCI board emphasized this social aspect and we are really proud of our city.