News Article Budapest Cordia Hungary residential
by Property Forum | Residential

Futureal Group’s subsidiary, Cordia Zrt. has kicked off its new mega project called Marina City, aiming to build 2,500 apartments, recreational facilities and several amenities on a former industrial site at the river Danube. The HUF 400 billion (€1 billion) project is a landmark development in the northern part of the Hungarian capital.

Cordia bought the 10-acre plot from CIB Bank several years ago and spent at least three years preparing the project. There will be more than 2500 flats and 100 retail units and in addition, a state-of-the-art recreational centre will be available for residents. There was no need to include a large retail centre in the project as Duna Plaza shopping centre is within walking distance from the development’s site.

Unlike many such residential developments in Hungary Marina City will offer a much bigger distance between each residential tower. Today in Hungary 25-30 meters is a commonly used distance and Cordia decided to have 35-50 meters allowing really large space between the buildings. No cars will be allowed to enter the surface of Marina City, an underground parking facility will allow to keep them completely off the ground. Cordia is also developing a unique flood protection system on the site, which will be created by constructing an environmentally fitting high embankment and applying landscaping elements—the implementation of which has already begun.

Ground works have already been started and 50 % of the first phase has been sold before the actual construction began. A new pedestrian bridge is to be built later from the site to the small island just opposite the new residential park. A kindergarten and a Clubhouse accessible to the neighbourhood’s residents and workers will be also built. The latter will be the largest such facility in the capital, serving community functions. It will include a fitness or wellness centre, coworking spaces, a community kitchen, and an indoor play area for children.