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.”
In the centre of Martin, the construction of the new Galeria Martin shopping mall is close to completion with the opening slated for late November and the expansion of the existing Tulip shopping centre is to be finished shortly. In addition, the opening of the Eperia shopping centre is planned in Prešov and in Košice, the Stanica project will be expanded by more than 1,000 square meters.
In 2018 two shopping centres should be built. The 5,537-square metre Point shopping centre in Banská Bystrica will open during the first half of 2018 and the modernised Trnavské Mýto underpass in Bratislava should provide 1,350 square metres of retail space.
Expansions will also include the Europa project in Zvolen, which will be extended by 8,600 square metres.
The total area of shopping centres in Europe amounted to 160.8 million square metres during the first half of 2017. This means a decrease of 11 percent compared to the same period of 2016.
Photo: Galeria Martin
Source: Courtesy of Cushman & Wakefield
One Fashion Outlet 1 near the village of Voderady, the biggest outlet centre in Slovakia, has filed for bankruptcy, the Trend weekly informed. The further fate is now in the hands of the courts.
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.
While the share of the market held by rental apartments in the countries of the European Union is between 19 and 62 percent, in Slovakia it is only about 6 percent. This negatively affects labour force mobility and housing for young families and handicapped citizens, the Benchmarking Information Exchange Project has discovered. The Supreme Audit Office (NKÚ) in Slovakia participated in the project and focused on the comparison of support for rental housing between Slovakia and the Czech Republic and Austria where the share of rental apartments on the market is 21 percent and 42 percent, respectively.
Slovaks are increasingly interested in recreational real estate. The demand has increased by 20 percent over the last year. The most wanted properties are cottages near Michalovce in eastern Slovakia.
Healthy offices providing a sustainable environment in terms of energy, as well as their surroundings, are a world trend that has not skipped Slovakia. There are a number of buildings that have already received or are applying for the world-renowned LEED, BREEAM, WELL or Fitwell certifications. One of them is the Einpark office building in Petržalka, which – as the first in Slovakia – has successfully completed LEED (Leadership in Energy and Environmental Design) pre-certification to the highest degree, Platinum.
The abandoned building of the former Lamač department store in Bratislava’s borough of the same name will return to life. The new owner, the investment group Dynastion, will revitalise it into the Karpatia centre. Apart from shops, it will house co-working offices and provide space for a youth community centre. The complex revitalisation of the building should start this autumn.
US real estate investment fund Heitman sold the Aupark Tower office building in Bratislava to the real estate fund of the investment bank Wood & Company in early June. The consultancy company CBRE, which mediated the deal, describes the transaction as the biggest on the Slovak office real-estate market for seven years. The price, however, was not disclosed.