Futureal signs for close to EUR 50 mln loan from MKB
Work in progress at the Budapest ONE business park.
Hungarian property developer Futureal on Thursday said it signed a contract for a close to EUR 50 million loan from MKB Bank to finance the continued construction of the Budapest ONE business park in the south of the capital, according to a report by state news wire MTI.
Futureal will use the loan, with a run of more than 15 years, to complete the third phase of the development.
Futureal handed over the first, 25,000 sqm phase of the project early in 2020, and it topped out phases two and three in May 2021. Those phases comprise 40,000 sqm of office space and almost 3,500 sqm of area for commercial and services businesses. The first tenants will move into the office space in the second half of 2022.
Futureal is one of the biggest property developers in the region, with a EUR 5 billion portfolio.
MKB Bank is part of a tie-up with Budapest Bank and Takarékbank that will become Hungary's second-biggest commercial lender: Magyar Bankholding.
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.