Bajcsy Invest Kft. awarded a non-repayable grant

Bajcsy Invest Kft. has been awarded a non-repayable grant of HUF 3,452,809,300 to deliver the project "Establishing a new four-star hotel in Debrecen city centre", submitted to the Kisfaludy Accommodation Development call for the development of large-capacity existing hotels and the establishment of new ones.

The Hungarian Government launched the Kisfaludy Programme in 2017. Under it, accommodation development worth HUF 300 billion may be delivered in rural Hungary by 2030, of which the government provides HUF 150 billion from the domestic budget in the form of non-repayable grants.

The programme creates scope to support investments that are sustainable over the long term and justified in tourism terms. As the standard of service rises through the development, as the current capacity of commercial accommodation expands and as the number of guests and guest nights increases, visitor spending is expected to grow and seasonal fluctuation to even out.

Thanks to the first phase of the Kisfaludy Programme, developments worth more than HUF 80 billion will be delivered in rural Hungary over the coming years, towards which the Hungarian government is providing close to HUF 50 billion in non-repayable grants.

Bajcsy Invest Kft. plans to build the four-star hotel at Bajcsy-Zsilinszky utca 7–13 in Debrecen city centre. The site has already been prepared and the buildings on it demolished. The project holds a final building permit and is due to start in the fourth quarter of 2020.