New Neighborhood to be Built on the Banks of the Danube in Budapest

Hungary Today 2023.09.20.

About fourteen hectares of former industrial land in Budapest will be rehabilitated. The new district would include a one-kilometer-long stretch along the Danube.

A large-scale urban district rehabilitation project called Marina City will soon be launched in Budapest, right on the banks of the Danube, Világgazdaság reported. The investor is Cordia International, a well-known real estate development group. The current plans are for Marina City to be the result of an extensive investment in the neighborhood of the extended riverside promenade in the northern part of Pest. The area has 1.2 kilometers of direct Danube waterfront.

Fact

In many cases, Cordia International’s projects involve not only the construction of new housing but also complex neighborhood renewal developments. The company’s history began after the turn of the millennium with the 144-apartment La Siesta residential complex, and in the almost two decades since, then Cordia International has become one of Europe’s leading housing developers and investors. The company also completed the Corvin Promenade in the 8th District. Here, nearly 3,000 apartments were built on a gross area of 200,000 square meters. In addition, 23,000 square meters of public space were developed and renovated under the auspices of the Futureal Group.

It is planned to redevelop fourteen hectares of former industrial land. The group stated that

the residential buildings to be built on this site will be surrounded by around 90,000 square meters of landscaped green space.

Tibor Földi, Chairman of the Board of Cordia International, said that “we are currently working on the development of thousands of homes and looking ahead to the next seven years we plan to sell more than 7,000 homes in our domestic and international markets.” Gábor Futó, co-founder and principal shareholder of Futureal Group, added that

over the past nearly twenty years, Futureal Group has successfully combined residential, commercial, and office development in their domestic and international urban regeneration projects.

According to him, two decades of knowledge will also help in the realization of their next grand domestic project, Marina City.

It is not yet clear when the development will start and when it will be completed.

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Via vg.hu, Featured image: Facebook/Cordia Otthonok