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.
Construction and expansion of shopping centres in Slovakia will continue. “Slovakia expects extensive construction and expansion of shopping centres in 2017 and 2018,” said Katarína Paule, head of the retail team at Cushman & Wakefield in Slovakia. “In 2017, there will be as much as 56,258 square meters in total to be completed, with 83 percent being new shopping centres, and 17 percent planned expansions of already existing projects.”
The new residential area of Slnečnice that is being built on the outskirts of Petržalka will get a new shopping centre, Slnečnice Market. There will be more than 30 shops, restaurants, cafés, a fresh produce market and others on 8,300 square metres. The first phase of the opening is planned for November 30 and the second for the following weeks. The centre will also offer 195 parking places for the public.
The new development that is rising on the premises of the former Bratislava Thread Factory, colloquially known as Cvernovka, is getting a new name – Zwirn. The new name symbolises a move forwards as well as connecting the whole zone with its history, claims the Slovak-Finnish developer YIT Slovakia. The factory has changed names several times over the years. It was called Pozsony Csernagyar, Pressburger Zwirnfabrik, Bratislavská Cvernová Továreň, Danubia, and Závody MDŽ 8. Marca.
A thorough refurbishment of the Trnavské Mýto pedestrian underpass, a dilapidated but significant hub of public transport in Bratislava, was launched on October 16. Works are projected to last nine months with the plan being to open the renewed underpass in mid July 2018. The work will be divided into phases in order that people can use the underpass during its revitalisation. The Immocap Group are the company responsible for the refurbishment and will invest €2.5 million into the project while Bratislava city council will provide €1.2 million for the purchase and installation of new escalators and lifts.
Coca-Cola HBC Česko a Slovensko, a company within the Coca-Cola Hellenic group, has sold its production and distribution premises of 155,000 square metres, including all technologies, in Lúka near Piešťany to Priemyselný Areál Lúka. The deal followed the decision of Coca-Cola to move its production from Slovakia to Austria. Both parties agreed not to disclose the value of the transaction.
Slovak-Finnish company YIT Slovakia has launched the sale of apartments in the third phase of the STEIN2 project in Bratislava. For the first time, there are apartments with terraces on offer. The final building approval is expected during the last quarter of 2018.
Deck: The flagship project includes lots of green space and above-standard materials for the flats in three villas.