March 21, 2017

Futureal and Erste sign €45 million credit agreement

Futureal and Erste sign €45 million credit agreement

Futureal Group signed a credit agreement of €45.1 million with Erste Bank Hungary Zrt. in order to finance the realisation of the Corvin 5 office building. The first phase of the building is expected to be handed over at the end of 2018.

Erste Bank grants credit of more than €45 million with a repayment period of 10 years for Futureal Group’s Corvin 5 office building that will be realized in two phases. The building complex valued at €90 million will be the latest and also the final member of the Corvin Promenade office building project. The 27,000 sqm office complex will be located in the eastern closing block of Corvin Quarter in the immediate vicinity of Skypark, which was finished last year. The first phase of Corvin 5 will offer 14,200 sqm of GLA, while its second phase will have 12,800 sqm of GLA.

The office building can be among the first to obtain the Well Building Standard certification in Hungary, which is based on aspects that have a positive impact on the health and well-being of employees.

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