Futureal Group’s industrial and logistics property development company, HelloParks, has made its debut in Fót, Hungary with the acquisition of a plot of land near Budapest.
Financial details were not disclosed.
The 76 ha greenfield investment will include energy-efficient buildings that meet the Breeam sustainability standard, according to Futureal, with the first, 45,000 m2 facility due for completion next year.
In total, the company said it would be able to develop around 330,000 m2 of warehouse and industrial space on the site. HelloParks Fót is targeting logistics service providers, light industry manufacturers, assembly companies as well as tenants with special requirements.
The minimum leasable area for the first building is 3,200 m2, while rental properties will be offered from 1,000 m2 in the next phase, in order to meet smaller tenants’ expectations. The investment value of the initial project is close to €50 mln.
Rudolf Nemes, CEO of HelloParks said: 'The acquisition and development of the plot hosting HelloParks Fót is the first step for HelloParks to become a determinant player in the dynamically growing industrial and logistics market.
'In Hungary, we want to start our operation with developments in the Budapest agglomeration and in major Hungarian cities that act as logistics hubs in the countryside. We are also planning serious activities in the Central and Eastern European region, building on the Futureal Group's existing presence in foreign markets.'
HelloParks said it aimed to obtain a key position in the industrial development sector, starting in Hungary, before targeting the entire CEE market.
Futureal is among the top 10 largest real estate developers in Europe. Since its foundation, the group's portfolio has included more than 180 real estate projects with a total value of over €5 bn and an area of 3 million m2.
