Futureal Plans €250M Hungary Project

BUDAPEST-Hungarian central Europe developer Futureal said its commercial projects are progressing successfully despite a fluctuating market environment, with plans for a €250 million commercial and entertainment project in Budapest, Hungary and its Romanian Gold Plaza shopping mall now 70% leased.

In Hungary, Futureal plans a €250 million commercial and entertainment project, Etele City Centre, in South Buda. The centre, with 40,000 square meters of leasable space at the terminal of the new M4 metro line is currently being designed and can probably be completed by 2013. Futureal Group is working closely with local government on the project. Meanwhile, it has completed the first stage of its €500 million Corvin Promenade PPP urban revitalization mixed offices, retail and residential project in Budapest with Cordia Co. at end-November and will start lease negotiations next spring.