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Dripping Ceiling, Moving Stair Railing – More than Four Thousand Errors Found After the Renovation of the Mnb Headquarters Doubled in Cost
5 Articles
5 Articles
After the central bank called on the main contractor's bank guarantee, Bálint Somlai turned to an expert body for legal redress. They conducted an on-site inspection, after which they reported numerous deficiencies, including a 200 million-hk error.
The Hungarian National Bank legally called in its bank guarantee of more than 3 billion forints from Raw Development Kft., which was renovating its Szabadság tér headquarters, due to thousands of uncorrected errors, the Performance Certification Expert Body (TSZSZ) concluded.
The Performance Verification Expert Body (TSZSZ) has determined that the Hungarian National Bank (MNB) was right to call off the bank guarantee of the main contractor renovating the Szabadság tér headquarters. Raw Development Kft. did not correct the errors that arose. After the handover of the investment, which cost more than 100 billion forints and was made of luxury materials, the experts documented thousands of deficiencies. These ranged fro…
The renovation of the MNB headquarters, carried out by a company linked to the son of the former central bank governor, a friend of Ádám Matolcsy, cost double the planned amount, 105 billion forints, but the building was still not perfect.
The cost of the errors was an average of 844 thousand forints, but there was also an item on the list worth 200 million forints.
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