Budapest-based CEE property developer Futureal has announced it is investing EUR 10 mln of equity in Russian projects. The investment is part of Futureal's EUR 100 mln Futureal Partnership Programme, under which it takes positions in developments to help bring them to completion.
Budapest-based CEE property developer Futureal has announced it is investing EUR 10 mln of equity in Russian projects. The investment is part of Futureal's EUR 100 mln Futureal Partnership Programme, under which it takes positions in developments to help bring them to completion.
'In the context of our programme launched last year, we are seeking partners in search of additional equity to implement their projects that are viable amongst current market circumstances. We have contributed substantial professional added-value to our past investments, however, we are happy to play the role of pure financial investor as the case may be', Futureal Group founder and owner Gábor Futo said.
'An example of the latter is our first investment in Russia, where the US-owned global property development firm Hines provides the entire professional background through the Hines Russia and Poland Fund platform,' he said.
Futureal Real Estate unveiled its EUR 100 mln Partnership Programme in 2011 to relaunch or finish projects in Central Europe that have slowed down since the outbreak of the economic crisis.
Futureal is one of the leading property development and investment firms in Central Europe. The regional development team of the family-owned group consists of over 100 property sector professionals. Its development activities extend to retail, office, residential and mixed-use projects. The value of the developments completed by the group exceeds EUR 600 mln.
