Párisi Udvar – Contract for renovation was signed


Reconstruction of the Párizsi Udvar, located at Ferenciek square No.10. stepped into its planning phase. The ceremony of signing the contract between the management company Mellow Mood Group (per procuration of Párizs Property Ltd.) and the general designer Archikon Ltd. which won the tender was held on the 10th February under the cupola of the Párizsi Udvar. At this event owners and CEOs of Mellow Mood Group, Mr. Sameer Hamdan and Mr. Zuhair Awad, mayor of the 5th district, Mr. Péter Szentgyörgyvölgyi, the management of Archikon Ltd. and the representatives of Óbuda-Újlak Ltd. (project manager of the construction) were presented.

Mellow Mood Group has been present in the domestic tourism and real estate development market since 1997. So far, numerous successfully implemented projects clearly show that the group has always been committed to fulfilling its promises meeting all the legal requirements. The group is dedicated to strengthen domestic tourism so it aims to create values which support this feature in the future as well.

Their projects have contributed greatly to beautification of the city center, to the increase of numbers in tourism by their hotels which exceed guests’ expectations as well as several new jobs were created. The number of employees is beyond 700 employees, and after the opening of the Paris Court they will provide another 250 jobs.

In national economic terms this investment is also beneficial as it contributes to the income of the government, the metropolitan and the local government.
Overall investment of the project is close to HUF 12 billion, which will significantly contribute to the improvement of several Hungarian entrepreneurs and contractors’ financial results. According to the group’s philosophy Hungarian products and entrepreneurs are preferred.

The renovation of the building is currently in the planning stage, the definition of the concept is in progress but the construction begins this year. The planned date of the opening is in the first quarter of 2017 but more optimistic expectations say that the opening ceremony could take place at the end of December 2016.

While renovating the historic building of Paris Court it is important to restore its original beauty, to save its characteristic features but the new building will get a new function. Protected surfaces and structures are not affected during the transformation. The design of the hotel features happens with maintaining the values of the building and reconstructing its original splendor. Shops, restaurants, fitness facilities and a conference section will find place beside the five-star hotel. It is worth talking about their exact size and number after the acceptance of the final plans.