Futureal has sold its Sziget Center shopping mall in Hungary to OTP Property Investment Fund as part of the deal that also saw the purchase of the Skypark office building. After a successful repositioning, the 23,600 sqm center located on the outskirts of Budapest has managed to lure high-profile tenants and tripled its lease income over the last two and a half years.

Futureal Group sold its Skypark office building to the OTP Prime Property Investment Fund. The recently closed transaction increased the value of the fund’s property portfolio to over HUF40 billion. The complex, with 25,000 square meters of GLA, is located at the Corvin Promenade mixed use project in the center of Budapest and was designed to meet the needs of technology and R&D companies.

Futureal Group signed a credit agreement of €45.1 million with Erste Bank Hungary Zrt. in order to finance the realisation of the Corvin 5 office building. The first phase of the building is expected to be handed over at the end of 2018. 

Futureal Group’s Advance Tower is getting closer to becoming the first office building in Hungary obtaining the Well Building Standard (WELL) certification. The International Well Building Institute’s system examines buildings’ impact on human body, health and environment and rates them based on 7 categories – air, water, nourishment, light, fitness, comfort and mind. The pre-qualification process of Advance Tower that will be built on Váci Road has already started. All further office projects of Futureal Group will be realized in line with the requirements of the Well Building international standard. 

Futureal Group handed over the Skypark office building as the latest member of the Corvin Promenade. The 25,000 sqm business center boasts the latest technology since it is planned to meet the needs of technology and R&D. 

Futureal Group has sold its Polish retail asset, Nova Park to a joint-venture formed by MAS Real Estate Inc. and Prime Kapital Limited for €88.5 million. Over the last four years Nova Park, located in central Gorzów in western Poland has become the largest shopping centre in the region with a catchment of 370,000 people. 

Futureal Group is extending its portfolio with a new office building. Located at the Váci office corridor, Advance Tower is the second phase of the group’s ongoing project that involves the development of nearly 100 square meters of office space in the capital. 

Futureal Group has announced that their latest retail development in Budapest, Etele Plaza is now in negotiations with a number of anchor tenants and they are hoping to confirm the first brands by end of Q1 2017. Located in the south-western part of Budapest, Etele Plaza is expected to attract up to 40,000 shoppers a day. This will be the first large-scale retail development in the Hungarian capital since the opening of Árkád 2 in 2013.

Futureal Group has successfully refinanced its Corvin Corner office building by signing a credit agreement with Erste Bank Hungary for €10.2 million