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Futureal signs for close to EUR 50 mln loan from MKB

Futureal signs for close to EUR 50 mln loan from MKB

Hungarian property developer Futureal on Thursday said it signed a contract for a close to EUR 50 million loan from MKB Bank to finance the continued construction of the Budapest ONE business park in the south of the capital, according to a report by state news wire MTI.
Futureal will use the loan, with a run of more than 15 years, to complete the third phase of the development.

Futureal handed over the first, 25,000 sqm phase of the project early in 2020, and it topped out phases two and three in May 2021. Those phases comprise 40,000 sqm of office space and almost 3,500 sqm of area for commercial and services businesses. The first tenants will move into the office space in the second half of 2022.

Futureal is one of the biggest property developers in the region, with a EUR 5 billion portfolio.

MKB Bank is part of a tie-up with Budapest Bank and Takarékbank that will become Hungary's second-biggest commercial lender: Magyar Bankholding.
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