The reconstruction of the Roundhouse will begin at the end of July

By: Trademagazin Date: 2025. 07. 18. 09:35

The complete renovation of the Körszálló, one of the defining buildings of the Buda cityscape, will begin at the end of July. The first phase of the project, which is being implemented as an investment by Market Asset Management (MAM) Zrt., part of the Market Group, is the demolition of the outdated building, after which the creation of a modern, sustainable residential building that meets all the expectations of the 21st century and faithfully preserves the original architectural values and form can begin. The development will not only save the iconic building for posterity, but will also renew its entire environment, making it greener and more livable.

Although the Körszálló has grown to the hearts of generations of Budapesters, in recent decades it has reached a state both technically and structurally that can no longer be remedied by a simple renovation. The only responsible way to save the building and create real, long-term value is a complete structural renovation that will allow the iconic form to be filled with modern, safe and sustainable content. For Market Asset Management, the renovation of the Körszálló is more than a business investment; the company’s credo is value creation, which in this project is embodied in saving the architectural heritage and creating a quality living space that looks to the future.

The demolition works, which are planned to last until the beginning of next year, are the first step towards creating a building that deserves a better fate and a more lovable urban environment. The new Körszálló, which will be completed by the end of 2027, will faithfully reflect the characteristic form and scale of the original 1967 building. The reconstruction will create a modern, premium residential building, the surroundings of which will also be completely transformed. One of the most important elements of the investment is the creation of a green public park open to everyone in place of the current surface parking lot. The parking will be located in a new, modern underground garage, significantly increasing the proportion of green spaces and reducing the burden on the environment. As part of the project, the Lorántffy Zsuzsanna Staircase will also be completely renovated at the developer’s expense.

“We are aware that such a large investment will cause temporary inconvenience, noise and dust for those living in the area. Our goal is to make this period as smooth as possible. The contractor, Market Építő Zrt., will do everything possible to minimize noise and dust pollution by using the most modern technologies and strictly adhering to the applicable environmental regulations. Over the next two years, we will help inform the public with continuous and transparent communication, and the körszálló.hu website is also used for this purpose,”

– said László Balassa, Deputy CEO of Real Estate Development at Market Asset Management Zrt.