A thorough refurbishment of the Trnavské Mýto pedestrian underpass, a dilapidated but significant hub of public transport in Bratislava, was launched on October 16. Works are projected to last nine months with the plan being to open the renewed underpass in mid July 2018. The work will be divided into phases in order that people can use the underpass during its revitalisation. The Immocap Group are the company responsible for the refurbishment and will invest €2.5 million into the project while Bratislava city council will provide €1.2 million for the purchase and installation of new escalators and lifts.
“Bratislava will get an underpass with new design, architecture and services appropriate for the 21st century,” said Bratislava Mayor Ivo Nesrovnal, when announcing the launch of construction works. About 30,000 people cross the underpass daily.
Last year Bratislava councillors chose the Immocap Group, which built the nearby Central shopping mall, as the future tenant of the underpass crossing. Part of the deal is its complete reconstruction.
Based on the rental contract signed last November, the Immocap Group has rented Trnavské Mýto for 15 years with an option of five years for one euro annually. The condition is that it invests at least €1.01 million ex VAT into its refurbishment.
During the reconstruction, all seven entrances into the underpass will be renewed. Old escalators will be replaced by new ones and lifts will be built in order that the underpass becomes barrier-free for people in wheel-chairs as well as people with prams.
After the reconstruction, Trnavské Mýto should house a grocery store, a news-stand and fast food stalls. There will be a 24-hour video surveillance system, guards and a paid WC. There will also be electronic tables with information about incoming and outgoing buses and trams.
“We want to bring to Bratislavans a new, safe, barrier-free, attractive underpass which, apart from shops and services, will also bring space for living and where it will be possible to spend time in a pleasant way,” said Peter Lukeš, head of the board of directors of the Immocap Group.
In November, the city plans to launch revitalisation works on the surface of Trnavské Mýto. It will partly renew the tram stops and footpaths. It also plans to remove stands near bus stops and the market hall.
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.
The developer YIT Slovakia has launched the sale of apartments in the second building of the fifth, last, phase of the Tammi Dúbravka development. The new block of apartments will provide 42 apartments. It will be connected to the second building of the fifth phase with a community park. The sale of apartments in the first building was launched in September 2017.
The first weeks of 2018 indicate that the high interest in new warehouses in Slovakia is continuing. Developers are responding to the demand with the preparation of expansion phases for their successful projects as well as plans for new industrial premises and parks. The latter may start during the first half of 2018 and so developers would be able to offer new spaces in late 2018.
The developer Merius has brushed up its Semiramis Residence project which it plans to build in front of the Nové Mesto railway station and opposite Kuchajda lake in Bratislava. Its first attempt three years before failed as the local council did not grant it construction permission. The re-worked project with a price tag of €47 million is now undergoing an environmental impact assessment (EIA).
Prices of apartments in Bratislava have increased to their highest level since the crisis, the real estate agency Lexxus has discovered. Based on its latest residential real estate analysis, Slovaks are prepared to pay still more for apartments. This is because they fear further increases in real estate prices as well as the impact of measures taken by the National Bank of Slovakia (NBS). These may worsen accessibility of housing for the middle classes from January.
Although Slovakia has so far been able to attract new investors, in the not so distant future it may have problems with the placement of further investments. The reasons for this are the steadily declining availability of labour, the very slow development of road infrastructure and the lack of readiness of land suitable for the development of industrial parks, according to Martin Varačka, director of the industrial real estate division of the real estate consulting company CBRE in Slovakia.
Foreigners coming to Slovakia to work for the manufacturing industry try to live as economically as possible. They often do not arrive with their families and only work for a short period of time.