SunDell is a Hungarian real estate developer, formed by the merger of three independent companies, with the ambition of becoming a REIT, a Real Estate Investment Trust. The Company develops residential buildings and related business premises for sale in Budapest, however SunDell’s goal is to increase the share of its real estate assets used for lease purposes to 50%. The professional leadership is provided by one of the ultimate beneficiary owners, the Piukovics family, who has nearly 30 years of experience in real estate development.
In July 2020, the shares of SunDell were introduced on the Budapest Stock Exchange, and in August 2020, the Company obtained the REIT status. In November 2020, it participated for the first time in the Bond Funding for Growth Scheme (NKP) announced by the National Bank of Hungaryand issued bonds with a nominal value of HUF 11 billion. In spring 2021, SunDell established a framework for issuing green bonds, which Scope Ratings independently rated as the second highest available category. In July 2021, SunDell issued a green bond under the NKP. The planned issue size was HUF 5 billion, which was oversubscribed by more than 45%. The Company accepted a bid of HUF 5.5 billion in nominal value. The amount raised will be used to finance and develop ongoing green investments and to launch new green real estate development projects.
The financial advisor to SunDell Estate Nyrt. in the credit rating and bond issuance was Concorde MB Partners.