Our client, Futureal Group has announced that their latest retail development in Budapest Etele Plaza is now in negotiations with a number of anchor tenants and they are hoping to confirm the first brands by end of Q1 2017. Located in the south-western part of Budapest, Etele Plaza will focus on affordable fashion with a varied mix of international and local brands, and is expected to attract up to 40,000 shoppers a day.
Once finished it is set to be a seven level building with 53, 000sqm GLA, and will provide the largest variety of shopping and entertainment facilities in the catchment area. An excess of space for anchor stores make it an attractive prospect for retailers looking to expand into Central and Eastern Europe.
Concept-designed by world-renowned architects Chapman Taylor, the project’s minimalistic and modern design will have the distinctive feature of double-height shop windows for some key retailers, along with three retail floors, a food and beverage court, multiplex cinema, chill-out lounge, a roof terrace and an indoor and outdoor adventure park.
Its exceptional location is strategically located at Budapest’s newest and largest public transport hub, next to two major highways and six different public transport services, which support over 165, 000 passengers per day and allow for first-rate accessibility. The complex also provides a park and ride service, allowing for 2, 400 vehicles at any one time.
Tibor Tatár, CEO of Futureal Group, said: ‘Etele Plaza epitomises Futureal’s commitment to invest in and develop projects across Central and Eastern Europe. It will be the cornerstone of the whole area’s revitalisation and is likely to be the last major shopping centre development in the city due to space constraints.’