Futureal Group, K&H Bank sign credit agreement
Property developer the Futureal Group has signed a credit agreement of EUR 34.2 million with K&H Bank in order to finance the realization of the Advance Tower office building in Budapest. The first phase of the complex is expected to be delivered in the second quarter of 2018.
K&H Bank is granting credit to finance Futureal’s Advance Tower development with a repayment period of over 10 years. The complex, valued at EUR 68 mln, will be realized in two phases in District 13 in Budapest, on the Váci office corridor, says a press release sent to the Budapest Business Journal.
The first phase of the Advance Tower complex offers 11,900 square meters of office space, which tenants can occupy from June this year. The 8,000 sqm second phase of the office building will be delivered in the second half of 2019.
In line with market expectations, Advance Tower will be equipped with smart solutions and sustainable technologies. As part of the intelligent building management, the office complex will have a decentralized hot water supply, roof garden with smart irrigation system facility, low-emission heating and cooling system, and electric car chargers.
The ‘A’ category building has obtained the BREEAM certificate indicating that it meets the highest sustainability requirements.
ADVERTISEMENT
MNB Hosts Meeting Strengthening W. Balkan Central Bank Capac...
Hungarian Lawmakers Ratify Finland's NATO Accession
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
