News Article Bratislava financing JTRE office retail shopping Slovakia Tatra banka
by Property Forum | Retail

Eurovea 2 obtained one of the largest real estate loans in Slovakia in recent years. Funding in the amount of €116 million will be used for the construction of the extension of the Eurovea shopping centre and the adjacent Pribinova X office building. Construction work by JTRE on both buildings is in full swing. The loan is provided by a syndicate of banks led by Tatra banka, together with Slovenská sporiteľňa and UniCredit Bank. The contract documentation was prepared by Dentons.

"Despite more than a year of restrictions caused by the pandemic, the Eurovea enlargement project is progressing according to plan. Obtaining such significant financing in the current difficult situation is proof that not only we but also the banks trust in the success of the project after returning to the normal functioning of the whole company," says Peter Korbačka, Chairman of the Board of Eurovea.

"The financing of the Eurovea extension during the period of the ongoing pandemic is a confirmation of the readiness of banks to participate in the financing of quality projects even in a difficult period. We are pleased to have the opportunity to support a project that will contribute to the further development of our city," said Zuzana Koštialová, Director of the Tatra Banka Large Corporate Clients Division.

The expansion of the shopping centre will bring another 25,000 sqm of leasable retail space, with the first store of fashion chain Primark in Slovakia being the biggest attraction. The total leasable area of ​​the shopping centre will reach 85,000 sqm. The Pribinova X office building, directly connected to the shopping centre, has nine floors and a leasable area of ​​18,000 sqm.

Construction of the Eurovea extension led by JTRE began in December 2019 and individual parts will be completed in 2022 and 2023.