After withdrawing its application for an important investment statute for the Connected Bratislava package of projects, the developer J&T Real Estate (JTRE) is continuing to work on selected projects on the Danube River embankment. Instead of an extensive package of projects on both sides of the Danube, it is now focusing on the zone around Eurovea and Panorama City.
The developer has included all the projects between the Old Bridge, Apollo Bridge and Landérerova Street under a new name, Eurovea City. It promises interconnection with quality public spaces and a new tram line, Reality.etrend.sk wrote.
“The basis is the extension of the current Eurovea with new retail spaces, offices and apartments,” said Peter Korbačka, director of the board of directors of JTRE, adding that the extension will also include new public spaces – a promenade on the Danube embankment, parks and a new sport grounds.
In all, the planned projects of Eurovea City will provide - including the existing Tower 115, Panorama City, Panorama Business and the first phase of Eurovea – 1,470 apartments, 95,000 square metres of retail space, 285,000 square metres of office space and a congress centre 8,500 square metres large.
Construction of the first phase, which will include extending the shopping centre, new office blocks and the first skyscraper in Bratislava at 168 metres high, should start in late 2018 or early 2019 and finish in 2021. Part of the first phase includes a city boulevard with a cycling path and reserve for a tram line.
During the following phases the developer will construct other, smaller, buildings. Among these will be a smaller congress centre to provide space for holding medium-sized events for between 1,500-2,500 people. Such a space is currently missing in Bratislava.
The whole zone may house 3,000 people while about 40,000 people may work here in total. The visit rate may double from the current average of 35,000 to 65,000 per day.
The public spaces are being designed by renowned architect Beth Galí from Barcelona. She will introduce concrete plans in the autumn.
Korbačka, who bought Eurovea four years ago, considers this development to be one of the liveliest places in Bratislava and which, by its significance and activities, is something more than a common development. Its original developer was Irish Ballymore Properties and it created space, which people began to like and use.
“This is why we thought of how to move Eurovea further,” said Korbačka.
Photo: Courtesy of JTRE
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.