The developer, belonging to the Bencont Group has already started pulling down the buildings and cleaning the three-hectare area.
“We believe that Rínok Rača, which we will begin to construct soon, will be the new centre of the borough and will naturally fit into the life of its citizens,” said Martin Šimurda, representative of the developer Rínok Rača, as cited in the press report.
The Rínok Rača development will consist of six blocks of flats, three buildings with mixed usage combing housing and civic amenities, five areas of civic amenities including a shopping passage and three underground garages with 822 parking places. In total there should be 473 apartments for about 850 people.
The developer has incorporated the existing historical building of the German House of Culture, currently standing next to the ruins of the former wine-making company, into the future structure of the locality.
As well as the rebuilding of the abandoned wine-making company the developer wants to invest in modern cycle paths and the reconstruction of a bus stop. They will also launch neighbouring vineyards and support their maintenance for 10 years at least in order to recall the famous wine-making past of Rača.
The prestigious architecture award Arch went to the Vallo Sadovsky Architects studio for the Nádvorie (Courtyard) project in Trnava involving reconstruction and extension of a set of historical buildings in the city centre.
After more than a 10 year break, construction work on the derelict skeleton of an unfinished shopping centre in Nitra will resume. The developer Living Park will rebuild it into a complex named Promenáda Living Park, combining shopping with housing. It has already obtained a construction permit, the SITA newswire reported.
Aupark, one of the first modern shopping centres in Bratislava, is to extend its premises. A new block, for which it has already obtained permissions, should add a new parking lot as well as extension of the retail area, the Trend weekly informs on its website dedicated to real estate.
The construction industry is a huge consumer of energy and generator of greenhouse gases. Thus, it is important to pursue green building to reduce these negative impacts. In Slovakia, green buildings and ecological construction make up 20-25 percent of all newly built real estate commented Martin Pribila, an expert in construction and green building in the discussion programme Tablet TV, hosted by the TASR newswire.
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.