"With a new equity issue of 100 million and relying on the experience of its team of over 100 developers, Futureal seeks to participate in the relaunch of stalled construction projects by partnering with developers both domestic and regional," announced Gábor Futó, co-founder of the Futureal Group.
By cooperating with other developers, Futureal aims to implement projects in the CEE region that may have come to a halt during the economic crisis, whether for lack of professional background or due to a partial shortage of funding. In the current environment where developers are finding capital hard to come by, Futureal offers a range of structured financing solutions and partnership options to its fellow developers.
In addition to financial investment, Futureal also brings substantial added value to the table, based on the experience and reputation of its team in areas such as sales, architecture, engineering and finance. Operating in three countries with a staff of over 100, over the past few years the property investor and developer has successfully delivered projects under various partnership arrangements with a combined value in excess of HUF 100 billion. Last year alone saw 270,000 m² of property delivered, making Futureal one of the largest clients for the construction industry.
"Working with our partners, we were able to attain such results despite the economic crisis and the ensuing recession. We seek to share the insight and experience we have accumulated with others. No developer working solely along the lines of finance can match all the added value that we can contribute to a project," highlighted Futó.
"The Group has so far collaborated with numerous Hungarian and foreign partners, including other developers, institutional investors, tenants and municipalities. Each of these partnerships has stood the tests of both time and the crisis, which, the way I see it, is because we all have found in each other core values such as sincerity, fairness, open and effective communication and team spirit."
The first success under this strategic initiative came in the form of a partnership agreement recently concluded by Caelum Development and Futureal, detailing the joint development of the Nova Park shopping center in Poland worth 120 million.