After existing and potential clients showed an eminent interest in central Slovakia, the biggest logistics real estate company in Slovakia, Prologis, began to look for suitable land for the construction of a new industrial park in the desired locality close to Nitra, Banská Bystrica and Zvolen. It found it in Žiar nad Hronom.
“While last year we did not have any ambitions to go farther from our localities in western Slovakia eastwards or northward, the situation has changed so much over one year that we bought land in Nitra and Žiar and decided to expand,” said Martin Baláž, director for leasing and development in the Czech Republic and Slovakia at Prologis.
The plot in Žiar is six hectares in area and Prologis’ plan is to build an industrial park with units of 22,000 square metres.
The Prologis Park Žiar project is now in its initial phase. The plan is to start building the units as soon as possible. Construction will be not speculative, i.e. without any signed contracts.
“As most of the companies that have shown interest are manufacturing companies and these usually need buildings adjusted to their needs, this excludes speculative construction,” said Martin Stratov, Senior Leasing Manager Slovakia.
In the meantime, construction of the Prologis Park Nitra next to the carmaker Jaguar Land Rover is advancing. The company is completing construction of the second of the three planned buildings.
“We registered such a high demand from clients that in 2017 we launched the construction of two units,” said Stratov. They have already signed 10 leasing contracts and are starting to prepare for the construction of the third, biggest unit.
Prologis also operates in Slovakia the Prologis Park Bratislava close to Senec. Last year it sold its facility in Galanta-Gáň and Nové Mesto nad Váhom.
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.
Investors in Slovakia are becoming more interested in launching their projects on brownfield sites or old industrial premises, Martin Varačka, head of the department of industrial real estate at CBRE Slovensko, confirmed for the TASR newswire. Apart from their further use for manufacturing or warehousing, new functions including residential ones may also be found for such sites.
The average price of flats in all eight Slovak regional capitals increased over July. Nevertheless, the increase of a mere €8 per square metre, from €1,613 to €1,621 per square metre, is the lowest month-on-month increase over the last few months. Thus, the expectations of Vladimír Kubrický, analyst for Realitná únia, have been fulfilled after he predicted that, following the tightening of conditions for taking out mortgages introduced by the National Bank of Slovakia as of July 1, 2018, there would be a stabilisation of prices.
Investors invested almost €500 million into commercial real estate in Slovakia during the first half of 2018. This almost equals investments for the whole year of 2017, which amounted to €535 million, the data of the real estate consultancy company JLL indicates.
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.