Futureal Group starts construction of Corvin 5 office building

Office Market

Futureal Group has started construction of the Corvin 5 office building in Budapest, according to a press release sent to the Budapest Business Journal today. The first phase of the building, equipped with the latest environmentally friendly technologies, is expected to be delivered by the end of 2018.

The total 27,000 square-meter office complex, valued at EUR 90 million, will be located on the eastern side of the Corvin Quarter in the immediate vicinity of the Nokia Skypark office building. The new complex at Corvin Promenade was designed to meet the requirements of the digital age, the press release claims.

Erste Bank is granting credit of more than EUR 45 million with a repayment period of 10 years for Futureal’s Corvin 5 project. The first phase of the complex will offer 14,200 square meters of gross leasable area (GLA), while its second phase will offer 12,800 square meters. The second phase will be delivered only six months after the first. With the new complex, the total GLA of Corvin offices will reach 100,000 square meters. 

The ‘A’ category office building was designed according to the latest international standards, receiving BREEAM Very Good certification at the planning phase, Futureal says. Additionally, Corvin 5 can be among the first to obtain the WELL Building Standard certification in Hungary, which is based on aspects that have a positive impact on the health and well-being of employees, the company expects.

“Features that are crucial for tech companies, such as higher electrical capacity and dual power supply providing continuous, uninterrupted operation, have also received special attention,” Futureal emphasizes.

An urban space with statue, fountain and seating features is open to passers-by in front of the office building. Close to Corvin 5 there are nearly 100 shops, restaurants, cafés, a fitness and wellness center, laundry, post office, bank branches and a cinema.

“Together with Corvin 5, we will be able to provide 100,000 square meters of GLA in Corvin Quarter, one of Budapest’s most frequented areas, which gives a new dynamism to a whole district. The solutions used in Corvin 5 enable the high-tech complex to fulfill the highest requirements of future tenants,” claims Gábor Futó, founder of Futureal Group.

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