The substructure works have been completed. The next major milestone will be the commencement of the structural construction works.
QUESTIONS & ANSWERS
I. Development Progress and Timeline
The development schedule for Láng District remains unchanged. Our objective is to ensure that homebuyers can take possession of their homes within the agreed timeframe and in accordance with the specified technical standards.
Yes. All four buildings in the first phase of the development have final and legally binding building permits. The permitted designs were also endorsed by both the district-level design review board and the National Architectural Planning Council.
According to the current development plans, Láng District is expected to welcome its first residents in 2028. The exact handover conditions and deadlines for individual apartments are set out in the respective sale and purchase agreements.
The developer and owner of Láng District is Southblaze Kft. Our company remains fully committed to the delivery of the project, and the development schedule remains unchanged.
Our objective is to ensure that homebuyers can take possession of their homes on time and in accordance with the agreed technical specifications.
As the developer of the project, we place particular emphasis on anticipating potential market and economic changes and on ensuring responsible, forward-looking operations that support the successful delivery of the development.
II. Development Background and Financial Stability
Láng District is owned and developed by Southblaze Kft. Our company is responsible for the delivery of the project, the overall development concept and the achievement of the development’s long-term objectives.
Bond investors contribute to providing the financing required for the delivery of the development. The bond programme is subject to reporting and compliance requirements, enabling investors to monitor the use of funds and compliance with the applicable financing conditions.
Southblaze Kft. closely monitors changes in the market environment and the conditions affecting the long-term delivery of the development.
Throughout the development process, financial, technical and organisational considerations are continuously assessed to ensure that the project is supported by responsible and forward-looking decision-making.
III. Permits and Development Concept
The termination of the priority investment status does not affect the final and legally binding building permits already issued for the first phase.
Planning for the second phase is being carried out in accordance with the currently applicable regulatory environment. Further information on subsequent phases of the development will be provided once the relevant plans have been finalised.
The development concept has been adjusted to reflect changing market demand. Instead of the previously planned near-equal split between office and residential uses, the current plans provide for a 67% residential and 33% office mix.
The purpose of this adjustment is to create an urban district that responds effectively to the needs of both its residents and the wider urban environment.
IV. Environment and Quality of Life
Remediation works at the site began in 2021, and the first phase has been completed.
Groundwater conditions continue to be monitored through monitoring wells operated in accordance with the requirements of the relevant authorities. Previous assessments found no groundwater contamination.
According to the plans, nearly 13,000 square metres of green space will be created within the approximately 3.5-hectare first phase of the development.
Once the entire urban district has been completed, the planned park will cover approximately 36,500 square metres. The public green areas will be complemented by landscaped internal gardens and rooftop gardens.
According to the development plans, the first phase of the park is scheduled to open in 2028, at the same time as the first residents are expected to move in.
The full park will be completed progressively alongside the subsequent phases of the urban district. Planned amenities include a 600-metre running track, a playground, an educational nature trail and an outdoor fitness area.
According to the current plans, the buildings will be supplied with heat through a combination of district heating and heat pump systems.
The potential use of geothermal energy was assessed at an earlier stage; however, local geological conditions do not allow for its economically viable implementation.