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Futureal building office building in Budapest

Hungarian property developer Futureal is building an office building on Váci út, one of the capital's main traffic corridors, CEO Tibor Tatár said at a press conference on Thursday.

Futureal is building the 20,000sqm structure at the site of an old hotel it is demolishing. The office building is to be completed by the second half of 2014. Almost one-half of the space has already been leased by consultancy KPMG.

Futureal is also building another 280 homes in the Corvin Promenade, a rehabilitation project in Budapest's District VIII that the company is involved with.

Futureal earlier completed a shopping mall at the site. A survey by ACNielsen shows 32% of visitors to Corvin Plaza come to shop, 27% come to look around and 38% use the space as a meeting point.

The most visited store in the plaza is supermarket CBA.