Dream Island - Hungary

• The Group holds an indirect 43.5% interest in the "Dream Island" Consortium, which owns an area of land measuring approximately 350,000m² located on the southern end of Obuda Island in the Danube River 
• Plaza intends to develop the plot into a business and leisure resort including 3,000 hotel rooms, 1,000 leisure apartments, a convention centre accommodating 3,500 delegates, a large scale American style casino (with approximately 150 tables), a 1,500 seat opera house, a 3,500 seat multi-purpose theatre, a marina with an anchorage for 300 vessels, a shopping and entertainment centre, a roman cultural museum, and parking facilities for approximately 5,500 vehicles
• Initial excavation works commenced, completion staged scheduled for 2012-2014, with an estimated total investment of approximately Â�1.5 billion
• The Group has a 50% shareholdings in the SPV that has a 87% interest in the consortium. The remaining members of the consortium are MKB Bank Nyrt (formerly Magyar Külkereskedelmi Bank Rt.) of Budapest, a leading Hungarian commercial bank (43.5% indirect interest), and a company controlled by the managing director of the consortium (10% direct interest) and a further 3% owned by another party and small minorities.
• Project status: Modified Town Planing Scheme (KSZT) received following a referendum amongst the residents of the local district. Initial excavation workers commenced. Casino license for 20 years (+10 option) granted in May 2008.
• Further information: http://www.dreamisland.hu