News Article Budapest development fashion Futureal Hungary lease mall retail shopping
by Property Forum | Retail

Etele Plaza, developed by Futureal in Budapest’s Kelenföld area, has reportedly reached an occupancy rate over 75%. The shopping centre, planned to be completed by Q3 2021, will feature every Inditex brand available in Hungary, including a Zara fashion store featuring a brand new design concept.

The development of Futureal’s €300 million Etele Plaza is still in progress with full capacity and expected to open by autumn next year. Meanwhile, to date, more than three quarters of the rentable area has been leased to high-profile tenants including large fashion retailers.

Spanish fashion giant Inditex Group’s international brands available in Hungary including Zara, Zara Home, Stradivarius, Pull&Bear, Bershka, Oysho and Massimo Dutti have joined Etele Plaza as anchor tenants. They will bring their latest store design concepts on a total floor area of more than 6,300 sqm. On the Buda side of the Hungarian capital, only Etele Plaza is going to have Inditex Group’s full portfolio in one place.

Zara will open its largest store in Buda with its brand new Soft concept. The new store will be equipped with advanced RFID technology that helps to quickly and accurately track the location and movement of the clothing.

With a rentable area of 55,000 sqm, the complex is being developed under Futureal’s Stay Safe initiative designed to respond to the changing market demand due to COVID-19.