Keringatlan LLC

Company Profile

KERINGATLAN Trading and Property Development LLC. was founded on the 27th July 1999 by FOTEX The First American-Hungarian Photo Service Ltd. and FOTEX 2000 Photo Service LLC.

The company's activities are: property letting, management, real estate trading, development, sales of properties, and other real estate related services.

Upon the shareholders' decision, OFOTÉRT Ltd. merged into KERINGATLAN LLC. as of 30th May 2000. Further transformation was effected in 2001, thus on the 29th of June 2001 Azúr Ingatlan, Primo-Ingatlan and Keravill Ingatlan LLC merged into KERINGATLAN LLC.

On the 30th of September, 2003 the company purchased Alfa-Örs LLC, then on the 30th of November 2003 it purchased Szivárvány Ltd. During the course of 2004 Keringatlan acquired IBUSZ's and K & H Bank's property shares in Sugár Shopping Mall. As a consequence Sugár Shopping Mall became 100 % owned by the Company together with the operational rights, by which were liquidated by Sugár Association, the previous operator.

As per the operative Joint Regulations on Business Associations, on the 27th of July 2005 Alfa-Örs LLC and Szivárvány Ltd. merged into KERINGATLAN LLC.

According to the previous practice, in 2005 the Company continued to enlarge its property holdings and in the course of the year the company purchased real estate in the amount of HUF 574.9 million.

During 2004 the decision to totally reconstruct and renovate Sugár Shopping Mall was reached. As a first step the ground floor and the 1st floor were modernized, further on in 2005 the Shopping Mall was expanded by 3000 square meters. In this new area mainly service, restaurant and entertainment oriented retail units were developed.

According to 2006 plans' the Shopping Mall will be extended further. On the 3rd floor an up-to date and modern cinema will be built together with an exhibition and show room, in addition to all this, the outer façade of the entire Mall will be renewed.

The final territory of the Shopping Mall will be a total of 33.749 square meters. The tenant mix will be composed of both retail, entertainment and service oriented units. The basement level will be converted into parking lots. Tenants will receive all services at the Mall, i.e. full time guarding of the facility, cleaning and a continuous on-site technical assistance. In order to get the highest number of visitors, Keringatlan LLC places great emphasis on its marketing activities, through which it hopes to popularize the mall even more and thereby attract a greater audience to the Mall.

Besides the Sugár Shopping Mall the Company also has a significant ownership in the Árpád Mall, located at Budapest IV. Árpád út 112.

In addition to these properties Keringatlan LLC also owns three logistics bases on a total territory of 27.700 square meters (at the following locations: Kistarcsa, Raktár krt.1, Budapest XVIII, Ipacsfa u. 8 and Budapest XX Közműhelytelep u.7). The warehouses are rented primarily for storage and logistic purposes, however some partners also utilize them for bonded warehousing, as well as direct wholesaling and for printing-office services as well.

All the lots are operated by Keringatlan LLC; the company assures a 24 hour guard service, cleaning of the common areas, maintenance of the grounds and that the lessees (partners) continue to comply with the rules and regulations of the logistics base.

Part of the owners' duties includes around the clock total technical maintenance of the grounds among which we can list the following duties: control and maintenance of the heating system, providing the tenants with electricity, and maintaining the fire alarm system. In addition, the company also monitors the electric network, water and drainage systems, the common road network, public lighting, and the continuous maintenance of gas furnaces which heat the premises, continued development and operation.

Similar services are assured by the company at Budapest XIII. Reitter Ference u. 39-49 where the company owns and operates a five story, air conditioned office building, a seven story warehouse complex and a ground level courtyard warehouse. Tenants use the property for their company headquarters, and for warehousing, logistics and wholesale activities. The seven story warehouse is equipped with four elevators to ensure smooth and safe operations. An onsite private parking lot is at the disposal of the tenants' staff and their visitors. The property and the associated buildings are equipped with a closed circuit monitoring system, which is operated on a 24 hour basis with permanent security staff. A part of the grounds are always kept as a green area assuring for vegetation. In order to serve its tenants to the best of its abilities Keringatlan LLC operates an on site representative office thereby being able to respond to tenants problems immediately.

The company's other property holdings consist of several retail stores both in Budapest and in other large cities located in the country side. Their network of 138 stores are being let continuously. The total territory occupied by the stores is 27.341 square meters, and all stores are located on or near frequented streets, close to city centres.

Tenants' activities are mainly concentrated around retailing; however the range of the tenants' profiles varies and as such they also offers the following: banking, entertainment, real estate letting, travel offices, computer retail and wholesale show rooms, not to mention a trade school with a built-in showroom as well.