News Article Cordia Hungary residential urban regeneration
by Property Forum | Residential

In 2023, Cordia International sold its 10,000th apartment, a result of nearly two decades of operation. The Hungarian property developer is now planning a major new urban regeneration project in Budapest.

Some 70% of the 10,000-strong stock is located in Budapest, while in Poland, the company’s second-largest market, more than 2,400 homes have been sold so far. In addition, Cordia has sold more than 600 homes in Romania, the United Kingdom and Spain — a level of foreign involvement unique among Hungarian property developers. The company has a significant portfolio in the rental housing market in several countries and plans to increase its share of foreign construction and sales in the future. 

“The first chapter of Cordia’s story began after the turn of the millennium with the 144-apartment La Siesta residential park in Budapest. In nearly two decades since then, Cordia International has become one of Europe’s leading residential development, construction and investment companies. We are still working on developing thousands of homes, and looking ahead to the next seven years; we plan to sell more than 7,000 homes in Hungary and international markets. We also plan to increase the share of international sales in the future,” said Tibor Földi, Chairman of the Board of Cordia International.

In many cases, Cordia’s projects are complex neighbourhood revitalisation developments. The best example is Corvin Promenade, the widest pedestrian street in Budapest, together with the complete renewal of the surrounding district. Here, Cordia has built nearly 3,000 apartments on a gross area of 200,000 sqm and developed and renovated 23,000 sqm of public space under the aegis of Futureal Group.

“Over nearly twenty years at Futureal Group, we have combined residential, commercial and office development in our domestic and international urban regeneration projects. These two decades of knowledge will also help us realise our next grand domestic project, Marina City,” added Gábor Futó, co-founder and principal shareholder of Futureal Group.

Marina City, with 1.2 km of waterfront on the Danube, is scheduled to start soon. Here, a 14-hectare area will be revitalised as a green oasis, within easy reach of the city centre, next to the extended North Pest riverside promenade, surrounded by 90,000 sqm of landscaped green space.