News Article ALTO Bratislava brownfield construction Penta Real Estate residential Slovakia
by Property Forum | Residential

The neglected premises south of the National Bank of Slovakia building should soon change. A new development has been in the pipeline since 2018. Originally, the developer was Penta Real Estate. At the beginning of 2022, however, the plans in the locality were transferred to the portfolio of the new company Alto Real Estate, which was created by splitting off from Penta, reports.

For Alto, this is essentially the first project that it will build on its own. The company will transform a relatively large area, defined by Imricha Karvaša Street, Slovanská Street, Fazulová Street, the area of the Saffron Hotel and Radlinského Street. Školská Street runs through the centre of the area, and a tram line runs along its southwestern edge. It is an ideal place for the creation of high-tech development. The developer wants to transform the area gradually. "Alto Real Estate bought three separate projects within the site in 2022, each in a different phase of project preparation and permitting," says Rastislav Valovič, CEO of Alto Real Estate according to These are the Slovanská Multifunctional House and the Fazuľova Residential Complex. After the transaction, the project was renamed Florian Residences.

In addition, there is a third project on the corner of Radlinského and Imricha Karvaša Street. Originally, it was supposed to be an office complex in Florian Offices. However, the company decided to change the concept. The developer has taken over part of the project already at a high stage of permitting. Therefore, it could recently proceed to start the construction of the first stage of Florian Residence. However, its final form has not yet been presented and its redevelopment is expected at the beginning of next year.