Budapest Business Journal Online: Futureal Group, K&H Bank sign credit agreement
Property developer the Futureal Group has signed a credit agreement of EUR 34.2 million with K&H Bank in order to finance the realization of the Advance Tower office building in Budapest. The first phase of the complex is expected to be delivered in the second quarter of 2018.
K&H Bank is granting credit to finance Futureal’s Advance Tower development with a repayment period of over 10 years. The complex, valued at EUR 68 mln, will be realized in two phases in District 13 in Budapest, on the Váci office corridor, says a press release sent to the Budapest Business Journal.
The first phase of the Advance Tower complex offers 11,900 square meters of office space, which tenants can occupy from June this year. The 8,000 sqm second phase of the office building will be delivered in the second half of 2019.
In line with market expectations, Advance Tower will be equipped with smart solutions and sustainable technologies. As part of the intelligent building management, the office complex will have a decentralized hot water supply, roof garden with smart irrigation system facility, low-emission heating and cooling system, and electric car chargers.
The ‘A’ category building has obtained the BREEAM certificate indicating that it meets the highest sustainability requirements.