Futureal Group’s residential subsidiary Cordia has commenced the development of 1,300-apartment scheme in the 9th district of Budapest, Hungary. The latest project of Hungary’s leading residential developer will contribute to the urban regeneration of Mid-Ferencvaros. The rehabilitation of this area first started in the early 2000s.
According to Cordia’s plans, the residential buildings will be erected in several phases, with the first residential unit will be located next to the Research Centre for Human Sciences of the Hungarian Academy of Sciences (MTA) and a new A-category office building with a capacity for 1000 employees.
Cordia has also unveiled plans for a new residential development for 360 homes in Lenhossek Park. The company is also planning important developments along the bank of river Danube in the North-Pest region at the high-prestige Marina Bay. The sales and construction process of the Marina Portside residences have already started. The realization of Marina Garden and the award-winning Marina Life apartment scheme are in progress and expected to be handed over in 2020. Futureal Group will also continue being actively present in the Corvin Quarter, due to the construction of Corvin Technology Park office building at Corvin Promenade.
"We’re proud to have been the engine of the creation of the multiple award-winner Corvin Promenade and the regeneration of Corvin Quarter. A similar project is waiting for us in the Millennium Quarter, although on a smaller scale,” said Tibor Foldi, CEO of Cordia. "From now on, our developments can be put into three categories, as we equally focus on downtown areas, which have outstanding investor demand, waterfront and suburb projects. Both the Millennium Quarter and the Marina bay perfectly fit into Cordia’s strategy: we’re concentrating on high profile locations, where we raise not only single buildings but, along with a coherent concept, we carry out real, quality urban development projects.”