Faedra Group has concluded a financing agreement for the MyRA Park M3 retail development project, backed by OTP Bank and the Faedra II Real Estate Development Fund, managed by Faedra Alapkezelő.
The project involves developing a nearly 6,000 sqm strip mall retail centre located near Budapest, at the Bag interchange of the M3 motorway. The development will accommodate more than ten tenants, offering passing traffic and local residents a convenient destination for their everyday needs.
Construction of MyRA Park M3 began in late 2025, with handover anticipated in Q4 2026. Grant Thornton is serving as the bank's technical supervisor for the project.
"The financing of MyRA Park M3 is a milestone for Faedra Group: with this project, we are making an entry into the retail real estate market, while also completing our first collaboration with OTP Bank," said Bence Boronkay on behalf of Faedra Group. "Diversified portfolio development is part of our strategy — alongside residential and industrial-logistics projects, the retail segment is playing a role. The tenant interest and results to date validate both the market opportunity and the viability of our concept."
"Our decision to finance this investment was underpinned by the project's location, concept, and pre-leasing activity. Supporting developments that respond to market demand, rest on solid business foundations, and create value is a priority for OTP Bank," said Melinda Prácser, Group Leader of the Real Estate Finance Division at OTP Bank.
