Cordia, Hungary’s leading residential property developer is continuing its expansion in the UK residential property market: its local subsidiary is building a complex of 366 rental apartments, bringing the total number of homes planned for the West Midlands region to over 1,800. Cordia, member of Futureal Group has reached its
The development worth close to EUR 50 million is the first phase of one of the largest megaparks in the country and can be handed over in Q1 2022 The first column has been placed of the first 45,000 sq m warehouse in Fót, which is an important milestone in
Futureal Group’s logistics megaparks can contribute significantly to the country’s competitiveness In the eastern agglomeration of Budapest, next to the M0 ring road, HelloParks continues its expansion with a new development in Maglód. As a member of Futureal Group, the company has started preparations for the implementation of HelloParks Maglód’s
A division of Futureal known as Cordia is very pleased to announce that it is set to ensure the development of an all-new ambitious project that will inject greater property development and construction into the Hungarian city of Budapest. Relieving GTC of their duties, Cordia will now be responsible for
BDC 319 : Aug 2024
Cordia, Hungary’s leading residential property developer is continuing its expansion in the UK residential property market: its local subsidiary is building a complex of 366 rental apartments, bringing the total number of homes planned for the West Midlands region to over 1,800. Cordia, member of Futureal Group has reached its next milestone in its operations in the United Kingdom: the Birmingham-based Cordia Blackswan, acquired and renamed last year by the company has announced its next major development. Cordia Blackswan is building a complex of 366 rental apartments in Birmingham’s Digbeth district, on a site of nearly 8,000 sq m. Digbeth is a regeneration area in the centre of the UK’s second largest city, with a strong industrial heritage. This area is now recognised as a vibrant cultural, creative and diverse neighbourhood, a kind of bohemian quarter. Cordia Blackswan’s new development will feature a combination of 1, 2 and 3 bedroom units, in two ‘u’-shaped blocks of five and eight storeys, set around landscaped public realm. Residents will benefit from shared amenities, including a resident’s lounge and concierge service, with high quality private outdoor spaces including courtyards and balconies. This project is not the first residential rental development of Cordia Blackswan, as the company has a number of developments in Birmingham’s historic Jewellery Quarter, which is still home to one of Europe’s largest jewellery manufacturing communities. These include The Lamp Works, a 148-home build-to-rent apartment scheme, while Bradford Works will be the city’s first purpose built shared living scheme for young professionals, with access to high-quality communal areas and shared amenities. Although The Gothic is not a rental housing development, but is also located in the same neighbourhood: the buildings that were built in the early 19th century will be converted into Victorian-style homes with carefully restored heritage features. This development is named after the pub that welcomed visitors from 1870 until the early 2000s. Beyond its Jewellery Quarter placemaking agenda, the company is keen to support Birmingham’s growth and development more broadly and this latest acquisition in Digbeth signals the next step in Cordia Blackswan’s journey of ambitious growth. Together with the development just announced, Cordia Blackswan has a pipeline comprising over 1,800 homes, as well as 33,500 sq m space for commercial uses across the West Midlands and is actively looking for new sites across the region.
The development worth close to EUR 50 million is the first phase of one of the largest megaparks in the country and can be handed over in Q1 2022 The first column has been placed of the first 45,000 sq m warehouse in Fót, which is an important milestone in launching one of Hungary’s largest industrial and logistic developments by HelloParks, member of Futureal Group, after the first tenants started to move into another megapark of the company in Maglód. For this energy efficient, BREEAM sustainability standard compliant facility that is developed as a part of a greenfield investment close to the Hungarian capital, the composition of the tenants is already outlined: negotiations are at an advanced stage, mainly with e-commerce, parcel logistics and courier businesses, as well as logistics companies serving a single manufacturing company. Located in the vicinity of Budapest, next to the junction of M0 ringroad and M3 motorway, the work has begun on the 76-ha site in Fót to build one of the largest industrial and logistics centers in the country. In the first phase, HelloParks, member of Europe’s leading real estate development and investment group Futureal, will build a 45,000 sq m warehouse with an investment value of close to EUR 50 million. The first phase is expected to be handed over in Q1 2022 by constructor company Goldbeck Hungaria. With the 76-ha plot, where a total of 330,000 sq m of warehouse and industrial space can be developed, HelloParks Fót is targeting logistics service providers, light industry manufacturers, assembly companies as well as tenants with special requirements. Due to the immediacy of Budapest, the park is also ideal for service providers performing urban distribution, but the industrial and logistics property developer also offers commercial industrial lands for sale with utilities and road connections, available from 1 ha. HelloParks is already conducting advanced negotiations with several companies, mainly with e-commerce, parcel logistics and courier companies, as well as logistics companies serving a single manufacturing company for the first phase of HelloParks Fót, while a webshop company has already signed the rental contract. HelloParks has recently announced another two large developments close to the capital of Hungary, a 100-ha industrial and logistics centre in Páty and a similar development on a 46-ha plot in Maglód where the first big tenant has already moved in. All of the three highly competitive, efficient and sustainable megapark developments that have been launched in just over a year by HelloParks have been driven by the company’s aim to become a key player of the industry, as a first step in Hungary, later on in the whole CEE market, and contribute to the improvement of Hungary’s position in the international logistics market. „In order to improve Hungary’s competitiveness, the construction industry must also change. Logistics companies typically like to move into facilities within a year, which is cannot be properly implemented in such a short time unless the area has already been set. This trend is again something that HelloParks developments can respond to. Keeping the deadline, we recently handed over a 46,000 sq m warehouse building as the first phase of the Maglod industrial and logistics megapark, where the first tenant has already moved in just five months after construction started. We are experiencing strong interest from prospective tenants, we are in advanced negotiations for all our free space, and in Maglód, our next tenant will move in soon. Parallel with the lease, we have already started planning and permitting the next phases so that we can serve existing and future needs as quickly as possible,” said Rudolf Nemes, CEO of HelloParks. “The primary need of logistics operators to meet a sufficiently fast and secure execution lead time can only be met by a well thought-out and clear concept. We would like to support HelloParks in realising this business model, using our entire Central European human and equipment infrastructure,” – said Pavol Čarný, Managing Director of Goldbeck Hungaria. HelloParks can build on Futureal Group’s decade-long property development and investment experience. Futureal is one of the leading real estate developers and investors in Central and Eastern Europe and is among the top 10 largest real estate developers in Europe. Since its foundation Futureal Group’s portfolio has included more than 180 real estate projects with a total value of over EUR 5 billion and an area of 3 million square meters. Goldbeck Hungaria in its role as general contractor, has been implementing industrial real estate projects on the Hungarian market for almost a decade, relying on the five decades of experience of its parent company, Goldbeck GmbH, and its design, production and financial infrastructure. The Goldbeck Group, under the umbrella of the Bratislava-based organisation, has completed more than 2 million m2 of gross floor area of industrial real estate in the region over the past decade and a half.
Futureal Group’s logistics megaparks can contribute significantly to the country’s competitiveness In the eastern agglomeration of Budapest, next to the M0 ring road, HelloParks continues its expansion with a new development in Maglód. As a member of Futureal Group, the company has started preparations for the implementation of HelloParks Maglód’s first 46,000 sq m facility being built in the first phase, on a 46 ha site located in the vicinity of M4 and M5 highways and Liszt Ferenc International Airport. The industrial and logistics centre will include a range of facilities exceeding a total area of 193,000 sq that meet the requirements of the BREEAM sustainability standard. The announcement of the investment in Maglód follows the company’s recent purchase of its first 76 ha site, also situated next to the M0 highway in Fót, where HelloParks Fót logistics megapark is under development. HelloParks continue its development activities in Maglód, the fastest growing industrial area of the eastern agglomeration of Budapest, an ideal location for production companies and logistics service providers. Preparations for the implementation of a 46,000 sq m facility being realised in the first phase, have already begun on the 46 ha site that is close to the M0 ring road, near the M4 and M5 highways, and Liszt Ferenc International Airport. The first building is expected to be handed over by the end of 2021, the value of this investment exceeds 40 million euros (14.4 billion forints). Prior to its Maglód project, HelloParks recently announced the development of one of Hungary’s largest industrial and logistics centres called HelloParks Fót on an area of 76 ha in Fót providing a total of 330,000 sq m of warehouse and industrial space. “HelloParks aims to increase Hungary’s regional competitiveness with highly competitive and efficient megaparks that also focuses on sustainability. The developments can strongly support Hungary in becoming a real logistics centre, as these facilities can attract new customers with regional outreach to the domestic market,” said Rudolf Nemes, CEO of HelloParks. HelloParks intends to build a total of 193,000 sq m of warehouse, light industrial and office space on the Maglód site. Several hall buildings will be developed in the area with different sizes – depending on the needs of tenants – between 26 000 and 90 000 sq m. The minimum leasable area in the first facility is 3,200 sq m. For smaller tenants the second building can offer rental properties of 500, 1,000 or 2,000 sq m. Similar to HelloParks Fót, the HelloParks Maglód facilities will also meet the requirements of the BREEAM sustainability standard, due to smart solutions that ensure energy efficiency and environmentally friendly operation. As a sustainability feature, electric golf carts will be available for tenants within the park’s area. “The importance of the eastern agglomeration of Budapest has highly increased in recent years, as several international production and distribution companies had settled here that has significantly reduced the size of the available areas. We expect that a similar development will take place in this region as it has happened in the western and southern sectors of the M0 ring road. By the preparation of the development in Maglód, we have thus taken another important step towards HelloParks’ aim to become one of the key players in the dynamically growing industrial and logistics market, first in Hungary and later on in the region. The rapid development of e-commerce and the relocation of production capacities have started a new trend of establishing regional EU centers. In line with this trend HelloParks’ megaparks will serve regional and urban logistics needs. We are constantly exploring further expansion opportunities in the Budapest agglomeration as well as the catchment area of large rural cities,” added Rudolf Nemes. HelloParks can build on Futureal Group’s decade-long property development and investment experience. Futureal is one of the leading real estate developers and investors in Central and Eastern Europe and is among the top 10 largest real estate developers in Europe. Since its foundation Futureal Group’s portfolio has included more than 180 real estate projects with a total value of over EUR 5 billion and an area of 3 million square meters.
A division of Futureal known as Cordia is very pleased to announce that it is set to ensure the development of an all-new ambitious project that will inject greater property development and construction into the Hungarian city of Budapest. Relieving GTC of their duties, Cordia will now be responsible for the building and construction of an exciting project located in the hilly and much sought after Buda area of the country. By injecting a further 140 million euros into the project that had originally begun under GTC, the funds will allow for the building of 850 habitations. As if that were not enough to get excited about, there is much more to this land development than merely to build homes for people living in the region. Indeed, Cordia has the intention of also committing funds and planning to oversee the construction of a brand new park dedicated to leisurely activities in the area that will total 8,000 square meters of private land. In addition to this, an area for office building will be an added feature of this ambitious development in the beautiful Hungarian location. Following on from Cordia’s multi-award laden Corvin Promenade initiative, the Budapest project is set to be in the same vein of ambitious construction and is not set to be finished until at least 2021. The new site will be known as the Sasad Resort and will be the crème de la crème of Hungarian industrial development. Indeed, Mister Gabor Futo, the clan leader of Futureal Group, is extremely pleased that Cordia will manage the project moving on from GTC, and this will equally mean the creation of a further 100-plus jobs for the local community. Of course, Futureal Group have the blessing of the previous company, GTC, who rather than throw the towel in early have moved onto different pastures in the building and development sector. Mister Robert Snow the Chief Executive Officer of GTC Hungary has declared that he is very pleased that a company like Cordia under Futureal are going to oversee the development and construction of the land.
