ARTICLES LABELLED WITH TAG Futureal

Hungary-based developers Futureal Group and Cordia have decided to donate €700,000 (HUF 250 million) to the fight against COVID-19. The directors of the company will decide on the usage of the funds shortly,

The acquisition of the second phase of Advance Tower located on the Váci road office corridor has been closed. With the current purchase, the entire office complex with a total GLA of over 20,000 sqm developed by Futureal Group has joined Erste Real Estate Fund’s portfolio. This is the first transaction in the Hungarian market which includes a WELL pre-qualified office building.

Trinova Real Estate has completed the acquisition of the Spectrum Building in Glasgow on behalf of Futureal Group, a leading real estate developer and investor in Central and Eastern Europe. The transaction marks a significant milestone in Futureal’s expansion into Western Europe.

Futureal Group has acquired the Antares office building in Warsaw, Poland. The 16-year-old complex will be fully modernized and repositioned in order to exceed the higher expectations of tenants. Cushman & Wakefield has been appointed as sole letting agent for the project.

Futureal Group has started the development of the final office complex on Corvin Promenade in Budapest, Hungary. Corvin7 developed in two phases will offer nearly 30,000 sqm of gross leasable area (GLA) in the immediate vicinity of Corvin Offices.

As part of the largest ever transaction on the Hungarian office market, Futureal Group has sold the fifth office complex developed on Corvin Promenade to OTP Real Estate Investment Fund. Through this transaction, OTP Prime Real Estate Investment Fund has now acquired the Corvin Technology Park office building from the group. Following the sale, the office portfolio of real estate funds managed by OTP Real Estate Investment Fund Management Ltd. will offer nearly 100,000 square meters on Corvin Promenade.

Cordia is now increasing its capital exports and foreign investments. In addition to the Romanian and Polish market, the company also has presence in Spain with a pilot project. All of this fits into Cordia’s strategy to become a dominant property developer at European level, while maintaining Hungary's key role in the company’s operation.

According to one of CEE’s most active developers, tenants in recent years have become more open to innovative and sustainable solutions when it comes to renting retail or office spaces. Tibor Tatár, CEO of Futureal talked to Property Forum about the company’s current projects and changing tenant expectations. Tibor Tatár will be joining a panel on the Hungarian property market at our upcoming CEE Property Forum 2019 in Vienna.

Futureal Group has sold its Advance Tower located on the Váci road office corridor to Erste Real Estate Fund. This is the first transaction in the Hungarian market, which includes a WELL pre-qualified office building having a beneficial impact on employees’ health and comfort. The real estate fund has acquired the first phase of the complex developed by the group, while the second phase could join its portfolio under a forward deal.

Following the financing agreements worth €51 million announced in January, Hungarian residential property developer, Cordia has signed further loan agreements worth €86.6 million. Futureal Group’s subsidiary has concluded the recent contracts with OTP Bank, Takarék Group and Sberbank in order to finance its 5 residential property projects in Budapest.