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 100m² 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 11,900m² of gross leasable area (GLA) and will be realized through an investment that has a total value of €36m (HUF 11,2bn).
“Futureal Group has developed over 600,000m² of real estate projects with a total value of €900m 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"- emphasized Gábor Futó, founder of Futureal Group.
The developments will extend the capital’s office market supply by roughly 100,000m² 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 8,000m² of gross leasable area, through which the GLA of Advance Tower totals nearly 20,000m²” – he added.
Over 31,000m² 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.
