News Article BREEAM Budapest financing Futureal Hungary K&H Bank loan office WELL
by Property Forum | Office

Futureal Group signed a credit agreement of €34.2 million with K&H Bank in order to finance the realization of the Advance Tower office building located in Budapest, Hungary. The first phase of the office complex, receiving the international WELL Building Platinum Precertification, is expected to be handed over in the second quarter of 2018.


K&H Bank grants the credit of more than €34 million with a repayment period of over 10 years for Futureal Group’s Advance Tower office building. The complex valued at €68 million will be realized in two phases in district 13 in Budapest, on the Váci office corridor. The nearly 20,000 sqm Advance Tower meets the highest international standards. The first phase of Advance Tower offers 11,900 square meters of office space, that tenants can occupy from June this year. The 8,000 sqm second phase of the office building will be handed over in the second half of 2019.
 
The glass surfaces of the 8-storey, modern building designed by Mérték Architectural Studio ensure the high proportion of natural light in the offices. In line with the market expectations, Advance Tower will be equipped with smart solutions and sustainable technologies. As part of the intelligent building management, the office complex will be hallmarked by decentralized hot water supply, roof garden with smart irrigation system facility, low-emission heating-cooling system, and electric car chargers. The Class A building has obtained the BREEAM certificate indicating that it meets the highest sustainability requirements.
 
Futureal is the first European property developer with three office projects, including Advance Tower, receiving WELL Platinum Precertification at the same time. Washington-based International Well Building Institute’s (IWBI) system examines buildings’ impact on the human body, health and wellbeing, rating them based on 7 categories – air, water, healthy nourishment, natural light, fitness, comfort and mental freshness. IWBI’s Well Building Standard (WELL) rates and acknowledges these aspects and thus helps to create office buildings that have a beneficial impact on employees’ health, well-being and comfort, besides the environmental protection.