Construction of a brand new bus station and the extensive reconstruction of Mlynské Nivy Street are going according to plan. While the transformation of the street into a boulevard should be complete by the autumn of 2019, the bus station won't be finished until 2020, representatives of the developer HB Reavis and Bratislava city council said, after checking the construction site on September 18.
“In May we launched the rebuilding of the infrastructure on the southern part of Mlynské Nivy Street, where we are renewing public water mains, gas pipes, electric mains, optical cables, cables for public lighting as well as the road itself,” said Jakub Gossányi from HB Reavis, as cited by the TASR newswire.
Reconstruction of Mlynské Nivy Street is divided into two phases with the second one starting in late autumn. After the reconstruction, the street will have one extra lane in each direction, an underground roundabout, cycling routes, new pavements and greenery.
The developer is reconstructing Mlynské Nivy Street at its own cost while its investment into the infrastructure of the whole zone of Nové Nivy is estimated at €40 million.
In terms of the bus station, the construction of the 125-metre office tower, the Nivy Tower, is the most advanced. The body of the bus station itself should be complete within a year.
The bus station will be a combination of an international bus terminal, a shopping centre, a market hall and the office tower.
The total investment into the Stanica Nivy project is projected to be €345 million.
Despite geopolitical uncertainty and a slow down in the economic cycle, investment in the global property market has seen a significant rise of 18 percent year-on-year to a new record high of $1.8 trillion, up from $1.5 trillion in 2017. Cushman & Wakefield, which examines global commercial real estate investment activity, assessing cities by their success at attracting capital, came to this conclusion in their latest report.
Fewer than 3,000 new apartments are available on the market of new residential buildings in Bratislava, which is the lowest figure for the past two years. As demand for new apartments is still relatively lively, prices for new units continue to grow slightly, the TASR newswire cited the real estate agency LEXXUS.
The Austrian company Soravia has opened a new retail zone in Liptovský Mikuláš in northern Slovakia, the Retail Park Liptovský Mikuláš. It is 9,000 square metres and is the first investment by the Austrian developer outside Bratislava. The investment totalling €22 million has created 100 jobs so far.
At the end of the second quarter of 2018, apartments under construction numbered 76,000 in Slovakia. This is the highest number since 1996 when the Slovak Statistics Office began to register this data. Because the figure for residential real estate under construction in the early 1990s was low, figures from the second quarter of this year are the highest since the launch of independent Slovakia in 1993, the Trend weekly reported.
The PNK Group, an international developer of industrial and logistics real estate from Russia, has joined the European real estate market by constructing a new industrial park called PNK Park Sereď in western Slovakia. Spanning 45,000 square metres of industrial space, the park offers premises for various uses: storage, distribution centres and light industry assembly halls.
After the British carmaker Jaguar Land Lover (JLR) announced its plan to build a brand new plant in Nitra, local real estate prices skyrocketed. Now the situation seems to be calming down. This is because the central bank has tightened conditions for taking out mortgages as well as developers announcing projects for the construction of new apartments.
The Czech investment fund Arete Invest, focusing on investment in real estate, is building a new warehouse for the international chain of fashion e-shops Factcool in the industrial park at Nové Mesto nad Váhom.