Futureal Group works on nearly 100,000 square meters of office space development in Budapest
Tenants of the new projects can employ 10,000 people in total in the capital
Futureal Group is extending its portfolio with a new office building. Located at the Váci office corridor, the Advance Tower is the second phase of the group’s ongoing project that involves the development of nearly 100 square meters of office space in the capital. The new office space, realized through the development project, will be three times bigger than all office developments carried out in Q1 2016 in Hungary.
Futureal Group launched the construction of Advance Tower’s first phase with a foundation stone laying ceremony. The 6-storey, ‘A’ category building, located in district 13, acquired a BREEAM certification indicating that it meets the highest sustainability requirements. Moreover, Advance Tower bears 11,900 square meters of gross leasable area (GLA) and will be realized through an investment that has a total value of EUR 36 million (HUF 11,2 billion).
The glass surfaces of the modern building, designed by Mérték Architectural Studio, grant the high proportion of natural light in the offices. According to the market needs, the office complex will be equipped with intelligent and sustainable technologies. Furthermore, as part of the intelligent building operation system, the automated shading technology, will facilitate the regulation of the sunshine exposure. By the same token, the office building will be hallmarked by decentralized hot water supply, smart irrigation system mounted on the roof garden as well as low-emission heating-cooling system.
“Futureal Group has developed over 600,000 square meters of real estate projects with a total value of EUR 900 million over the last 12 years. Reacting to the market needs, after the success of Vision Tower, our firm is launching several ambitious office projects in this year. The developments will extend the capital’s office market supply by roughly 100,000 square meters of gross leasable area enabling our tenants to employ even 10,000 people in total” – emphasized Gábor Futó, founder of Futureal Group. “As a result of the significant tenant interest towards the newly built Advance Tower, we have already started the planning of the second phase, containing 8,000 square meters of gross leasable area, through which the GLA of Advance Tower totals nearly 20,000 square meters” – he added.
Over 31,000 square meters of office space was developed during Q1 2016 in Budapest, representing a 56 percent growth compared to the previous year – revealed CBRE, a the commercial property and real estate services advisor. The office development volume itself, proposed by Futureal Group, is three times higher than the aforementioned result.
Besides Advance Tower, the company’s iconic office development project is Budapest One. The office park, having 70,000 square meters, will be realized in more phases in Őrmező, next to Etele square and Kelenföld railway station, where Hungary’s largest multi-modal transportation hub can be found. Travelers arriving from the west by train or car will be greeted by the office complex. The first phase of the office park will contain nearly 25,000 square meters of offices for rent as well as 2,600 square meters of commercial and service unit. Additionally, it will also provide significant green space and underground garage with 480 parking lots for the thousands of employees.
As part of Futureal’s portfolio, the fifth and sixth office building phase of the Corvin Promenade project will be launched soon. A 27,500 square meter office building will be located in the block locking Corvin Quarter from the east, in the immediate neighborhood of Nokia Tower, which has 25,000 square meters of gross leasable area. When planning the ‘A’ category office building’s concept, features that are extremely important for tech companies, for instance, higher electrical capacity and dual power supply providing continuous, uninterrupted operation, received special attention.
“Several new architectural values have been created over the last couple of years in the district. The district’s transformation has been in line with the endeavors of the city development. Preserving its ability of attracting capital, over 19,000 flats and nearly 1 million square meters of service-and office spaces were realized, and the Váci street office corridor became a real concept by now. The results obtained are also proven by architectural awards and a Hild Award. Private developments made in this council term exceed HUF 10 billion. Our passive house, which has been built as a municipal investment involving 100 flats, has been certified as world class on the international contest of FIABCI. The recent handover of our passive kindergarten located in Kassák Lajos street realized through our own resources that has a total value of HUF 1,3 billion, made us proud” – said Dr. József Tóth, mayor of district XIII.
Noguchi Porter Novelli
+36 30 433 9092
+36 30 433 9092