Hungarian Heritage Review, 1987 (16. évfolyam, 1-12. szám)

1987-07-01 / 7. szám

HUNGARHOMES:

RETIREMENT CENTERS AMERICAN-STYLE IN HUNGARY

With living, medical care, and other costs skyrocketing beyond fixed incomes, an ever-increasing number of about-to-be or already retired Hungarian-born citizens of the United States, Canada, and other countries throughout the Western World have begun seriously thinking of returning to Hungary in order to be able to live in retirement without having to worry about budgetbusting costs. Responding to this trend, HUNGARHOTELS, the largest hotel management company in Hungary, and the New York-based GABRIEL ASSOCIATES, the international hotel and real estate consulting firm, have formed a joint venture to build retirement centers in Hungary. The New York architectural firm of Emery Roth & Sons, designers of the World Trade Center and the City-Corp Building in Manhattan, are participating in the design of the retirement centers — which, by itself, is a solid guarantee of the high quality of design and furnishing of the centers themselves.

Each of the planned retirement centers will consist of 350 apartment units, equipped with recreational facilities, and managed by HUNGARHOTELS as a resort center. Tenants will be provided with Hungarian-style, or international-style, cuisine, maid services, utilities, maintenance, medical supervision, and security — all for a “SERVICE FEE” based upon domestic prices in Hungary. This will represent a substantial saving in living costs compared with such costs outside of Hungary.

There will be four different apartment models, ranging in size from 600 to 1000 square feet. These will be available with a LONG-TERM LEASE and a SECURITY DEPOSIT equal to the price value of the unit involved. The SECURITY DEPOSIT will be FULLY REFUNDED to the tenant or to his or her heirs upon termination of the lease — and IN CONVERTIBLE CURRENCY.

The first retirement center — the answer to the dreams of many who wish to return to and live in retirement in their beloved homeland — is scheduled to be completed and available for occupancy on or about 1990 at Fot, near Budapest. Moreover, all participants in this plan WILL RETAIN THEIR AMERICAN, CANADIAN, etc. CITIZENSHIPS.

For further information, contact:

GABRIEL ASSOCIATES:

488 Madison Avenue New York, N.Y. 10022 Tel: 212-644-6420

Location of the proposed Retirement Center by HUNGARHOMES in Fot.

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Air view of the Fot Retirement Center (preliminary plan, subject to change)

Exterior side view of a row of apartments in the Fot Retirement Center, (preliminary plan, subject to change)

JULY 1987

HUNGARIAN HERITAGE REViEW

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