Hungarian developer Futureal and MKB Bank have signed a loan agreement for nearly €50 million (approx. HUF 17 billion) to finance the third phase of its Budapest ONE office park project. The final phase of the office complex will be completed in the second half of 2022.
MKB Bank will extend a loan of €49 million with a tenor of more than 15 years to finance the construction and operation of the third phase of Futureal's Budapest ONE office project.
The 25,000 sqm first phase was completed early in 2020. Phases 2 and 3 are under construction and were structurally completed this May. The simultaneously developed projects will create 40,000 sqm office space and nearly 3,500 sqm retail and service space, to be complemented by nearly 2,500 sqm of green area. Tenants will be able to move in from the second half of 2022.
The new buildings of the office park, which is located at the juncture of motorways M1 and M7 on the fringe of Budapest, will host Vodafone's new headquarters and BT's regional service centre.
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