Hungarian property developer Futureal has signed a EUR 165 million refinancing and credit line agreement with a consortium of Erste Bank Hungary, Erste Group AG and UniCredit Bank Hungary, the property developer said on Monday.
Futureal refinanced credit for Etele Plaza, a shopping center in the southwest of the Hungarian capital, that it signed for in 2018. The term of the agreement was extended until 2035.
Futureal had earlier put the cost of building Etele Plaza at over EUR 300 million.
Futureal is among Europe's ten biggest property developers.
Opened in 2021, Etele Plaza shopping and entertainment center has over 150 stores, a grocery store, restaurants, cafes, a gym, a multiplex cinema, a children's playroom, and a wide range of services, with 55,000 square meters of leasable space. It is Hungary's first smart plaza, which has earned one of the highest ratings for sustainable buildings, BREEAM In-Use Outstanding, and its building management system (BMS) maximizes the efficient operation of the complex.
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