Futureal Group starts construction of Advance Tower II in Budapest
Futureal Group has started the construction of the second phase of its Advance Tower office building located at the Váci office corridor in Budapest, Hungary. The expansion of the office complex will offer an additional 8,000 square meters of GLA. Advance Tower’s second phase receiving the international WELL Building Platinum Precertification™ is expected to be handed over in the second half of 2019.
Advance Tower valued at EUR 68 million will expand to 20,100 square meters of GLA due to the second phase of the office building. The first phase of Advance Tower offering 12,100 square meters of office space can be occupied by the tenants from June this year. The glass surfaces of the 8-storey, modern complex designed by Paulinyi-Reith & Partners Architectural Studio ensure the high proportion of natural light in the offices. Both phases of Advance Tower are equipped with smart solutions and sustainable technologies therefore intelligent building management, automated shading technology with sunshine exposure optimization, decentralized hot water supply, roof garden with smart irrigation system facility, and low-emission heating-cooling system can all be found in the office complex.
Advance Tower has acquired BREEAM certificate and the office complex has also been designed and will be operated according to WELL Building Standard™. The purpose of the WELL certification is to create office buildings that have a beneficial impact on employees’ health, well-being and comfort, besides environmental protection. Washington-based International Well Building Institute’s (IWBI™) system examines buildings’ impact on human body, health and wellbeing, rating them based on 7 categories – air, water, healthy nourishment, natural light, fitness, comfort and mental freshness. Currently there are over 30 WELL Precertified office buildings worldwide. Among them, Futureal is the first European property developer with three projects receiving WELL Platinum Precertification at the same time.
“Futureal Group’s Advance Tower, Corvin Technology Park (Corvin 5) and Budapest One office buildings account for over 100,000 square meters of office space in the Hungarian capital. These complexes are being realized based on the factors that have a beneficial impact on employees’ health and well-being. Innovations driven by WELL Building Standard™ will define the office market over the next decade, and Advance Tower is one of its pioneers in Hungary and in Europe” – said Tibor Tatár, CEO, Futureal.
About Futureal Group
Futureal is one of the leading real estate developers and investors in Central and Eastern Europe and is among the top 20 largest real estate developers in Europe. Since its foundation Futureal Group’s portfolio has included 91 real estate projects with a total value of EUR 2.7 billion over 1.8 million square meters. One of the Futureal Group’s most outstanding projects is Corvin Promenade, the largest inner-city urban regeneration project in the CEE region. In 2010, the project received the European Commercial Property Award for the Best Mixed Use Development of Europe and in 2014, the company received the Urban Land Institute’s (ULI) Global Award for Excellence, considered to be the Oscars of city and real estate development.