Futureal issues a £129m 10-year green bond to reinforce its investment business line


Hungarian real estate developer Futureal Development Holding has successfully auctioned its 10-year amortising green bonds at the Budapest Stock Exchange.

The company raised £129m (ca. €150m) in the transaction, which was heavily oversubscribed by financial institutions. Futureal Group, including its residential business Cordia, has over 21 million gross sq.ft of developments in the pipeline across Europe and it will continue investing in opportune transactions and platform deals.

The transaction comes shortly after Cordia, member of the Futureal Group, further expanded its reach, targeting the UK market. Most recently, the company acquired Birmingham-based property developer Blackswan Property, enabling them to progress a number of projects in and around the country’s second city.

Futureal has also announced the appointment of Karol Pilniewicz, the former regional head of Cromwell Group, to lead Futureal’s investment activities in CEE.

Gabor Futo, founder and co-owner of Futureal and Cordia said: “Despite the market challenges caused by the pandemic, Futureal Group and Cordia Group will be able to actively participate in the relaunch of the economy in Europe, as we are currently working on over 21 million sq.ft of developments on the continent,”

Karol Pilniewicz, newly hired Chief Investment Officer at Futureal said “The fresh funds give us even more opportunities for a dynamic international expansion. Futureal has already made significant achievements in countries such as Poland and the UK, which provides a solid base to further strengthen our market presence in Europe. The company will also boost its position by inviting co-investors to join forces on new acquisitions,”