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Arete Invest to put €30 million into real estate projects in Slovakia
Year ago,

Arete Invest to put €30 million into real estate projects in Slovakia

Arete Invest, a Czech investment fund focused on real estate, plans to invest around €30 million in Slovakia in 2018. It is considering new construction on industrial premises it already owns as well as new acquisitions. The company sees great potential in the Slovak market.

 

The Slovak market is advantageous for us for several reasons,” said Lubor Svoboda, Arete Invest co-founder and board member, as cited by the TASR newswire. “These are chiefly its economic stability, openness, the European Union, standardised legislative procedures and a similar mentality.”

 

Several studies have shown that there is less competition in Slovakia and definitely higher demand for industrial real estate than in the Czech Republic, pointed out Svoboda.

 

Arete Invest is considering investing in two fields. The first one is a new construction project on premises that it already owns that would bring new jobs. At the same time, it has mapped out some investment opportunities and is currently holding talks with certain entities on purchasing new plots that have already been built up and are profitable.

 

The investment fund currently owns two class A premises in Slovakia. The first one is an industrial area in close proximity to Kia’s automotive plant near Žilina. This plot has been completely rented out to car component supplier Grupo Antolin. The second one is an industrial and logistics park called Arete Park Nové Mesto, located near Nové Mesto nad Váhom (Trenčín Region), part of which is made up of further plots of land designated for construction development.

 

The National Bank of Slovakia has also positively evaluated the development of the commercial real estate sector. Both the manufacturing industry and the commercial real estate sectors have posted strong growth in loans, with the quarter-on-quarter rate attacking a level of 15 percent during the first quarter of 2017. The aforementioned development continues to increase the importance of sectors that can also be described as relatively sensitive to economic development, reads the central bank’s latest Financial Stability Report.

 

Photo: TASR

 


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