The Slovak developer did not allow himself any concessions when entering the London market. Now, half a year after the completion of the debut projects, he announces a new, similarly lucrative intention.
The European commercial real estate market is expected to recover this year, but it will probably arrive in Slovakia with a delay. Rent growth will continue in all sectors in Europe. An average increase of 3.4 percent is expected in logistics, 2.1 percent in offices and 1.2 percent in retail space. This follows from the outlook of the commercial real estate market called EMEA Outlook 2024: Trends are coming back, prepared by the real estate consulting company Cushman & Wakefield.
The labor market in Slovakia has slowed down significantly in recent months. The number of employees is also decreasing due to the cooling of foreign economies, and also due to increased early retirement. Analysts of the Institute of Financial Policy (IFP) Dávid Hojdan and Monika Pécsyová stated this in their monitor.
In 2023, the sharp increase in interest rates and the negative economic development of the country in which they operate had the strongest impact on banks and the method of financing commercial real estate.
Bratislava downtown will get another exceptional building. We are talking about the new headquarters of Západoslovenská energetika (ZSE), which will fill today's brownfield between the Metropolis and Sky Park Offices projects.
The location near the Trnava toll and the Ondrej Nepela Winter Stadium is an attractive and sought-after area of Bratislava. This is also why new projects have been concentrated here in recent years, drawing on several advantages - proximity to the city center, excellent civic amenities or a quiet and safe neighborhood.
Since 2012, the company Immocap also wanted to convert one of the plots in this area. It is a currently abandoned plot near the intersection of Trnavská cesta and Jégého street. The developer first started with the demolition of the former sports hall located on the property and wanted to replace it with a parking garage.
The area suffered from a lack of parking spaces, and there were only 360 of them under the ten thousand winter stadium. The new building was supposed to bring more than 500 more parking spaces and the entire project also had a building permit. But the construction never took place, the land began to fall into disrepair and Immocap fenced it off.
Construction output in the eurozone fell for the second consecutive month in November, with the pace of decline accelerating. Production in the field of earthworks fell in particular. It also recorded a decline in the case of engineering constructions, but the rate of decline in this sector was three times slower. This follows from the data of the statistical office of the European Union, Eurostat, which published a preliminary estimate.
The investment volume decreased by 41% year-on-year, but compared to Europe, this is a milder decrease. The most dominant was again the office real estate sector, which reached a level of up to 70% of the total volume of investments. Slovakian (71%) and Czech investors (21%) again accounted for a significant share, and together they reinvested up to 661 million euros.
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