After securing the largest commercial loan in over a decade on the Slovenian real estate market, Bratislava-based developer Corwin has realised the first drawdown for the residential project Kvartet.
Despite the coronavirus pandemic, the construction of the Kvartet residential project continues apace, with the first 5 above-ground floors already built. The project is expected to be completed beginning 2022. Furthermore, Corwin reports that more than 70% of the currently available flats have already been sold.
“While our name is already well known in Slovakia, it is very important to us that we prove ourselves here in Ljubljana too. Kvartet is the largest development in the city and a loan of this size demonstrates that there is a lot of trust and anticipation for our product”, commented Michal Maco, Country Manager, Corwin.
The Slovene real estate market has so far been mostly represented by small-scale investors and very conservative banking practices. A commercial loan of €30.5 million for a private developer might mean the market is moving into a new era of real estate investment.
