Despite industry jitters over the future security of Hungary's 20% tax rebate for film production, developers have announced plans for three new facilities.

The Hungarian press reports that construction should begin this spring on a studio complex located on a 15,000-hectare site in Rakospalota in northeast Budapest.

Luxembourg-based Orco Group is developing the Rakospalota project with contractor Origo Filmstúdio Motion Picture Production Zrt. The developers assume part of the financing for the HUF 12bn ($65.4m) project will come from state-sponsored loans.

A separate facility planned for Pecs, in southern Hungary near the Croatian border, would target local and regional productions. Called Greenhill, the HUF 2bn ($10.9m) project will convert a former electricity plant into a 600-square meter sound stage plus support facilities.

Greenhill is also planning a HUF 10bn ($54.5m), three-stage project in Szentendre, north of Budapest.

Both Greenhill projects are led by Tamas Sas, director of the Hungarian hit S.O.S. Love!

Topics