Thursday, 22 October 2026
Futureal has acquired Premier Outlet Budapest, a retail complex in Biatorbágy, as part of a change in its investment activities in Hungary. The transaction, completed in October 2026, reflects the company’s decision to increase its ownership of existing commercial properties that generate rental income. Futureal, which has historically concentrated on residential and commercial development, has indicated that further acquisitions could follow. The purchase also adds another retail property to its Hungarian holdings alongside Etele Plaza in Budapest.
Premier Outlet Budapest opened in 2004 and is situated near the junction of the M1 and M0 motorways, west of the Hungarian capital. The centre comprises approximately 23,000 sqm of leasable space and accommodates more than 90 retail units. According to information provided by Futureal, the property had an occupancy rate of 99.7% at the time of the acquisition. Its location provides road access from Budapest and other parts of Hungary, although no visitor numbers or annual turnover figures were disclosed.
The tenant list includes Nike, Adidas, Hugo Boss, Tommy Hilfiger, Lacoste, GANT, GAP, Karl Lagerfeld, Samsonite and Calvin Klein. Futureal states that the centre contains Nike’s largest outlet store in Central Europe and Adidas’s largest outlet store in Eastern Europe. These claims have not been independently verified. The high reported occupancy indicates that relatively little retail space is currently unleased, although the announcement did not provide information about rental income, lease durations or the financial performance of individual tenants.
The acquisition marks a departure from Futureal’s previous emphasis on constructing new properties in Hungary. The company is now examining opportunities to purchase completed buildings where it can receive rental income and potentially improve financial performance through changes to leasing arrangements and property management. This approach may involve different risks and capital requirements from those associated with development projects, particularly because investors acquire properties with existing tenants, operating costs and contractual obligations.
Futureal’s co-founder and owner, Gábor Futó, linked the company’s revised investment approach to political and economic developments in Hungary following the April 2026 parliamentary elections. He argued that changes in investor sentiment, financial market indicators and the exchange rate had improved the outlook for property investment. However, the announcement did not provide independent evidence establishing a direct relationship between the election result and these developments. The company’s expectations regarding future international investment activity therefore remain forecasts rather than confirmed market trends.
Olivér Treiber, Futureal’s Chief Investment Officer, indicated that the company currently sees opportunities to acquire existing properties at prices that may compare favourably with the costs and risks of developing new buildings. He also expects increased participation from international investors in Hungary’s commercial property market. Futureal has stated that it intends to make further purchases, but has not identified additional properties, investment budgets or expected completion dates.
FREY will remain responsible for the outlet centre’s daily operations following the transaction, while Futureal will oversee decisions concerning the property’s ownership and financial management. The company intends to review the composition of the tenant base and possible changes to the shopping environment. Futureal also owns Etele Plaza in Budapest’s 11th district, although the two properties operate under different retail formats. The announcement did not specify whether any operational functions, leasing activities or supplier arrangements would be shared between them.
Futureal was advised by HG Business Advisory on financial matters and CMS on legal matters, while TOMLIN Kft. conducted the technical examination of the property. Neither the seller nor the acquisition price was disclosed, and no information was provided about the financing structure or valuation of the asset. The transaction increases Futureal’s exposure to Hungary’s retail property market and provides an indication of its intention to direct more investment towards completed commercial buildings. The extent of this change will become clearer as the company announces further transactions.
