Futureal Group secured €45.1m from Erste Bank Hungary to finance the development of the Corvin 5 office building in Budapest. The funding is for 10 years. Valued at €90m, the 27,000 sqm building will be the final addition to the Corvin Promenade scheme. It will go up in two phases in the Corvin Quarter’s eastern closing block in the immediate vicinity of Skypark, which was finished last year. The first phase, expected to be handed over at the end of 2018, will offer 14,200 sqm. The second phase will add 12,800 sqm. Corvin 5 will include an inner garden on the ground floor as well as a roof terrace. Features that are crucial for tech companies, such as higher electrical capacity and dual power supply, received special attention.
“The credit agreement signed with Erste Bank guarantees the successful realization of Corvin 5 office building. The complex, which will be equipped with forward-looking technological solutions, is going to be one of the most distinctive buildings of the Corvin Quarter. With Corvin 5 the total GLA of the Corvin offices will reach 100,000 sqm,” said Gábor Futó, founder of Futureal Group.
