Cordia secures financing for five projects in Budapest

Cordia secures financing for five projects in Budapest

Published at: 2019-04-25 10:24 | Author: CIJ Serbia
The company Cordia has secured financing for five projects in Budapest from OTP Bank, Takarek Group and Sberbank. The total value of the new funding is HUF 27.7 billion. OTP Bank is backing the first two stages of Cordia's District 13 Marina Life project plus its Akademia Garden scheme with a HUF 17.5bn loan. A further HUF 5.6bn was secured from Takarek Group for the third stage of Cordia's Young city project in District 13 near the Arpad Bridge. Sberbank's contribution of HUF 4.6bn in financing will go towards the construction of 112 apartments in Sasad Hilltop in District 11. Cordia is a subsidiary of Futureal Group, one of the country's biggest property development and investment groups.

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