About the Company
The company was established in October 2000 by Péter Csipak under the name Millennium Immobilia, Inc. As the owner of a significant portfolio of properties within Budapest's Old Town, the firm's focus is the development of economic opportunity in this historical quarter, in particular Deák Ferenc Street.
Through its renovations and improvements, Immobilia breathes new life into the century-old buildings by providing them with the modern conveniences necessary to once again become a focal-point the life of the city. The company’s projects further contribute to the historic Old Town’s ability to provide the high-calibre services and environments which made Budapest one of the most important commercial and cultural centres on the continent at the turn of the last century. By virtue of its many outstanding qualities, Budapest can once again be a comfortable home to all those working and residing here, foreign citizens and natives alike.
In 2003 the firm initiated the reconstruction of Deák Palace. Upon completion, the 100-year-old building quickly became one of the most sought-after business locations in the city, and was awarded special recognition in the 2005 FIABCI awards competition by the Hungarian Real Estate Alliance.
Since 2005, the developer’s primary focus was the design and execution of large-scale renovations which was completed by Fall 2008. The restoration of the historical buildings on Deák Ferenc street, stretching from Deák Square to Bécsi Street, providing prime retail space for leading fashion retailers, boutiques, and coffee-houses, is more than just a well-planned investment, it constitutes urban renewal on all levels. Based on the Ödenburger Architectural Firm’s plans, the Old Town’s most impressive shopping street is realised: Fashion Street.
Management
- Péter Csipak, General Director
- András Elekes, Managing Director
- Éva Urgyán, Office Manager
Partners
- Marczel Ruttkai, Ruttkai Law Offices
- Bergmann Bookkeeping and Tax Advisory
- HVB Bank Hungary, Plc
- Cushman and Wakefield, Inc
- Dr. Mária Lami, Auditor