The Cordia Hungary Zrt. - Number 1 on Residential Real Estate Market in Budapest (Hungary)

Budapest, Hungary (PRWeb) February 5, 2007 -- Residential real estate developer Cordia Hungary surprised everyone with its dinamic market entrance. Budapest, the capital city of Hungary has a stable and mature residential market up to 8500 residential units sold per year. App. 4600 homes were sold by the dominant market players in 2006. Cordia Hungary managed to overtake the well established developer companies by selling more than 300 new built homes within 6 months of time.

"According to our plans the year 2006 was only the start of the company's long-term ambitious growth and expansion in Hungary and also in Central-Eastern Europe." said Tibor Földi, the Director-General of Cordia Zrt.

The total value of the company's projects currently under sales is 42 Million EUR, out of this 32 Million EUR is the first two buildings of Corvin Promenade and 10 Million EUR is the first phase of the XI. district Madárhegy real estate development project.

International market
One of the central elements of the company's strategy is to gain ground abroad, and become an active member of the international real estate market. The first milestone of the international property development was the housing project launched in Bucharest 1. District, where the Cordia Hungary Zrt. is applying its domestic experience abroad.

The Futureal Group
The Futureal Group is one of Central-Europe's leading developers, which is dealing with real estate development, real estate utilization and venture capital investment.
The Futureal Investment Fund Management Zrt. has issued the first property development fund of Hungary, a closed-end fund listed on the Budapest Stock Exchange, the Futureal 1. Real Estate Investment Fund, and the open-end Cordia Real Estate Investment Fund.

Corvin Promenade
Corvin Promenade is the largest, city-centre regeneration program in Central Europe,
located in the city centre of Budapest on a 220.000 sqm area with a value of 500 million EUR with in the period of 2005-2012. The development includes 150.000 sqm offices, retail and 3000 new apartments. Developer Futureal Real Estate Development Ltd. Member of the Futureal Group.

Cordia Hungary Zrt.
The Cordia Hungary Zrt., is the affiliate company of Futureal Group, and is specializing in development of residential properties. The company started its dominating work in the Budapest housing market with the development of La Siesta Residential Park, among its references with the Corvin Promenade. Cordia owns another 2 major projects in Budapest and already owns land for the construction of 6.000 residential units.

Cordia Hungary

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