PL

HUNGARY Futureal loaned EUR 60 mln for Budapest One 2

Office & mixed-use development
Hungarian developer Futureal has secured a ten-year, EUR 60 mln loan (app HUF 21.5 bln) from Erste Bank to finance the construction and operation of the second phase of the Budapest One office park.

DLA Piper was responsible for providing legal advice on the loan agreement on behalf of Erste Bank.

The second phase of the office complex is being developed simultaneously with the third phase, both of which should be completed in H2 2022. In September it was announced that MKB Bank had provided a EUR 50 mln loan for the development of the third stage.

Budapest ONE office park is located in Őrmező (Budapest XI), neighbouring the Kelenföld railway station, various public transport stops, as well as the M1 and M7 motorways.

This agreement has reassured us that over almost the last two decades Futureal has created an efficient and successful business model. As a result, we now develop modern, high-quality, sustainable and profitable projects locally and internationally that are recognised by both the sector and by tenants.
Tibor Tatár, the CEO of Futureal Development

The 25,000 sqm first phase of the complex was completed in early 2020. The construction of the nearly 20,000 sqm second phase and the 19,000 sqm third phase reached their highest points in May this year. The office park, which has 3,500 sqm of retail and services, will also have 2,500 sqm of green space. Tenants include the Hungarian HQ of Vodafone and BT, which will open its regional service centre in one of the final phases of the building.

Budapest One office park is being developed according to BREEAM requirements and Well Building ‘Platinum’ pre-certification.

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