Polat Holding, one of Turkey’s most established and trusted brands, continues its growth in the European real estate sector. The Holding has acquired 100% ownership of its Hungarian real estate development company, PD Real Estate Kft., by purchasing the remaining 50% of shares from its partners.
Polat Holding, which established PD Real Estate Kft. in 2016 through a partnership to carry out real estate projects in Hungary, has now acquired the remaining shares using financing from Credit Europe Bank. With the completion of the share transfer agreement, PD Real Estate Kft. has become a wholly owned subsidiary of Polat Holding.
Having launched its first international real estate project, Duna Pearl, in Budapest—the capital of Hungary—through PD Real Estate, the Holding had invested €75 million in this mixed-use project comprising residential units, a hotel, and retail spaces.
Regarding the share transfer of PD Real Estate, Board Member of PD Real Estate Kft., Kaan Yücel, shared the company’s international outlook:
“As Polat Holding, we continue our real estate development operations in Hungary with our Duna Pearl project, whose deliveries we completed in early 2023, and our City Pearl projects, with the first phase deliveries scheduled for early 2024. Doing business in Hungary has been a very enjoyable and positive experience for us in many ways, thanks to our shared history and cultural ties with the Hungarian people. By acquiring full ownership of PD Real Estate Kft., we have taken a solid step towards new projects we will realize in Hungary. Very soon, we will be introducing new projects both in Hungary and across several parts of Europe.”
Oktay Hatırnaz, Polat Holding’s Group Head of Financial Affairs and Finance, shared details about the financing provided by Credit Europe Bank:
“Polat Holding, with its professional team and strong financial capacity, has successfully completed and delivered the Duna Pearl project on time. Through the financing provided by Credit Europe Bank, the hotel and other assets of PD Real Estate have been incorporated into Polat Holding. Our goal is to position the company as a leading player in its sector in the coming period. As we proudly complete our first real estate project in Hungary, we are excited about the new projects we will realize in the region and in different countries across Europe.”
The Duna Pearl project, delivered by Polat Holding at the beginning of 2023, is located in one of the prime areas of Budapest’s bustling 13th district, known as “Little Manhattan”—Ujlipótváros. Positioned directly across from Margaret Island and within walking distance of the city center, metro, and major business hubs along Váci Road, the project offers a premium location. Neighboring the region’s largest park, Szent István, and situated along the banks of the Danube River, Duna Pearl stands out with its uniquely designed residences and green rooftop gardens.
As a mixed-use development comprising residential units, a hotel, and retail spaces, Duna Pearl includes 193 apartments and a 105-room Four Points by Sheraton hotel, which opened in early summer 2023. In addition to apartments ranging from 47 to 109 square meters, the project offers independent commercial spaces ranging from 36 to 301 square meters, delivering high return potential for investors.
With its prime location, hotel, and commercial areas, Duna Pearl is seen as a new focal point of the city. Featuring spacious, light-filled apartments, specially designed terraces and balconies that maximize views of the Danube River, and a lush central courtyard with social amenities, Duna Pearl offers investors a lifestyle beyond Budapest standards.
Project Overview
| Project Investor | Polat Holding
| Investment Amount | €75 Million
| Construction Area | 42,000 m²
| Total Sales Area | 26,500 m²
| Number of Residences | 193
| Hotel Area and Room Count | 5,500 m² – 105 Rooms
| Rentable Area | 3,000 m²
| Parking Capacity | 236 Vehicles
| Architectural Project | Lamro Kft