Futureal Integrates Commercial Development, Asset Management Business Lines
Budapest One by Futureal
Futureal Group is restructuring its commercial development business and asset management business into one efficient pan-European platform, according to a press release sent to the Budapest Business Journal.
Futureal Development and Futureal Investment Partners will continue to operate as an integrated business line.
Under the new structure, Futureal Development will have a stronger cooperation with the group's real estate investment and asset management business, Futureal Investment Partners. The new organization will be jointly led by Karol Pilniewicz, CEO & CIO of Futureal Investment Partners focusing on investments, asset performance, leasing and day-to-day support to commercial teams, and David Hendrych, Group CFO & COO of Futureal being responsible for reporting, finance and operational matters.
In the future, Futureal will concentrate on expanding its Central-European activity to a pan-European scale, with increased focus on commercial property retrofit and redevelopment, the company tells the Budapest Business Journal. The new strategy is driven by the abrupt and immense market pressure on existing commercial properties that are obsolete or will quickly become obsolete against new ESG and energy requirements.
“Futureal Group will continue growing its footprint, we see tremendous opportunities for international expansion, as well as further green investments. The integrated operation made possible by the new organizational structure will be a competitive advantage for our group,” said Gábor Futó, co-founder and co-owner of Futureal Group.
Parallel to this, Futureal Group remains an active investor in the office, retail, logistic and BTR segments holding close to EUR 2 billion assets under management in various countries in EMEA.
Although fully concurring with the new strategy, after nearly 20 years Tibor Tatár, former CEO of Futureal Development, decided to leave the company for personal reasons bounding him to a narrower geographic region.
"Tibor was a key figure in Futureal Development’s history, and in its becoming one of the largest real estate development and investment management companies in the region. The team has built 500,000 sqm of GLA commercial and office projects valued at a total of EUR 1.6 bln, while our investments have revitalized entire districts, such as Corvin Promenade or the South Buda City Center. It was a great honor to build Futureal Development together and achieve such success stories over the last two decades,” said Futó.
“Leading an outstanding professional team at Futureal, I had the luck of developing a large number of class leading commercial projects in the CEE. I’m proud of our assembled team at Futureal who are predestined to achieve even greater success in the future,” said Tatár.
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