EUROVEA 2 has received one of the largest real estate loans in Slovakia in recent years. Funding of €116 million will be used for the construction of the extension of EUROVEA shopping centre and the adjacent PRIBINOVA X office building. Construction work on both buildings is fully underway.
The construction loan was provided by a syndicate of banks led by Tatra Banka, together with Slovenská sporiteľňa and UniCredit Bank. International law firm Dentons prepared the contract documentation.
“Despite over twelve months of pandemic-related restrictions, the EUROVEA extension project is proceeding on schedule. Getting such key financing during the current difficult situation shows that our confidence in the project – following society’s return to business as usual – is also shared by the banks. We appreciate this trust in the project, its strong footfall, and the project work team – and we are thankful. In just over a decade EUROVEA has become Bratislava’s leading fashion and shopping destination, whilst being a popular place to spend time on the Danube promenade. The development of the EUROVEA CITY district will bring additional opportunities for living, working, and relaxing, and will make Bratislava’s contemporary centre point even more attractive,” said Peter Korbačka, EUROVEA, a.s. chairman of the board.
“We greatly appreciate the client’s trust in financing the further expansion of the attractive EUROVEA centre. Agreement for financing during the ongoing pandemic confirms the bank’s readiness to finance quality projects, even during a challenging period. We are pleased to have the opportunity to support a project that will contribute to our city’s further development,” said Zuzana Koštialová, Tatra Banka procurator.
The expansion will deliver a further 25,000 sqm of leasable retail space, with the Primark fashion chain’s very first store in Slovakia being among the biggest attractions. Upon project completion, the shopping centre’s total leasable area will be 85,000 sqm. Nine-floor PRIBINOVA X office building – directly connected to the shopping centre – will have a leasable area of 18,000 sqm and offer the highest standard secure, flexible, and functional workspaces, in conformity with BREEAM EXCELLENT ecological certification.
Construction of the EUROVEA extension – led by developer JTRE – began in December 2019, with parts scheduled for completion in 2022 and 2023. Bratislava’s residents, employees, and visitors can also look forward to attractive new public spaces: an extended riverside promenade with activity areas, a park, and Pribinova boulevard with a welcome new avenue of trees and a relaxing square leading to the centre’s entrance. In addition to more retail space and new offices, the project also includes new apartments – over 80 percent of which have already been sold.