SEM IX Urban Development Corp. was founded in 1992 by
– the Local Government of Budapest District IX Ferencváros,
– the development financial institution of the Republic of France, the Caisse et Dépots et Consignations (CDC), and
– OTP Bank Corp.
Expertise to the creation of the urban development society of the Local Government was ensured by CDC and its central urban development branch, SCET, in cooperation with the Local Government. After being founded SEM IX Urban Development Corp. made the urban development action plan of the rehabilitation of Középs?-Ferencváros, on the basis of which, and approved of by the Local Government, as the project management branch of the Local Government, launched and managed ever since the rehabilitation of Középs?-Ferencváros by applying the operative development model based on the cooperation of the public and the private sectors. Since the foundation, the ownership combination of the society has changed, and the position of outside investors has been taken by Urban Development Privately Held Corp.