Futureal Groupʼs residential developer Cordia has announced the conclusion of loans worth HUF 16.3 billion with OTP Bank and Takarékbank, for the financing of five Budapest residential projects, the company told the Budapest Business Journal.

The loans from Takarékbank will be used to finance two Budapest projects. Cordia was given a HUF 5,4 bln loan to develop Grand Corvin I, a 194-apartment development on the last plot of the international award-winning Corvin Promenade. A smaller loan of HUF 3.1 bln was provided to finance the GrandʼOr project with its 107 apartments in Nagydiófa utca (District VII.) The press release says that about 70% of Grand Corvinʼs apartments and 67% of GrandʼOrʼs homes are already sold.

The article on Budapest Business Journal is available here.