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 new city district Bory, between the Small Carpathians and the Morava River in Bratislava, continues to grow. Its developer Penta Real Estates has announced two more phases to the residential area. After completion, the new district will feature offices, shops, parks and amenities including a kindergarten, besides housing.
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Long-term manager and developer of logistics warehouses, P3 Logistic Parks, continues to record strong growth over the past 12 months. This has been driven, in part, by the boom in online demand, which has fuelled the need for strategically-located warehouses in Europe. P3’s customer base has grown by 20 percent, with customer retail share surpassing 30 percent for the first time in the company’s history.
Housing affordability in the Bratislava Region is the lowest compared to the remaining seven regions of Slovakia. This is true for employees with an average monthly wage of €1,360 and average prices of residential real estate. While the average wage in this region is 39 percent above the national average, the average price for one square metre of real estate is 117 percent higher than the average, specified VÚB bank analyst Andrej Arady.
Company owners are searching for more effective solutions for managing their companies. One of such solution is shared office space; as much as 80 percent of companies using this solution put cost reduction as the reason. This way they save especially on costs needed for acquisition of offices and rentals, as well as repair and maintenance costs, a survey conducted by International Workspace has confirmed.
Extensive reconstruction of Mlynské Nivy Street in Bratislava and construction of a brand new central bus station, including an adjacent high rise office building, are progressing. Currently almost 450 workers of various professions and 18 cranes are working on it, the biggest construction site in central Europe at 4.4 hectares large. The developer HB Reavis still promises to launch the new bus station in late 2020.
In the former industrial zone on Račianska Street in Bratislava, next to the Lidl retail store, stands an old brick smokestack and concrete beams. These are the remnants of a long defunct parquet factory. Developer Corwin plans to replace the remnants with Guthaus, a residential complex with a new vision for housing quality.