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Futureal signs for EUR 60 mln loan from Erste Bank

Banking

Hungarian property developer Futureal on Tuesday said it signed a contract for a EUR 60 million loan from Erste 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 more than ten-year loan to complete the second phase of the development.

The company handed over the first, 25,000 sqm phase of the project early in 2020, and it topped out phases two and three, with areas of 20,000 sqm and 19,000 sqm, respectively, in May 2021. It plans to hand over the second and third phases in H2 2022. 

Futureal is one of the biggest property developers in the region, with a EUR 5 billlion portfolio.

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