In Q3 2022, domestic demand was still the driving force of the Slovak economy. Although rising inflation is expected to reach 12.4% in 2022, the economy should grow by 1.8%. Nevertheless, the industrial sector exceeded expectations in Q3 and kept growing at a rapid pace. In the office market, we can see restored demand in many cases and the increased leasing activity should persist towards year-end, Cushman & Wakefield published its Marketbeat Analysis for Q3 2022.

As of November this year, Multi Corporation has been appointed the new property and asset manager for the shopping centre Central in Bratislava, the company announced.

Wood & Company has increased its stake in the Bratislava shopping centre Aupark by 27%. Currently, Wood & Company and TAM own 87% of the asset. The stable annual performance of over 11% is now confirmed by Wood & Company's real estate funds.

The green logistics complex VisionPark in Bratislava received the permit for construction at the end of August. The permit is for three halls with 16,000 sqm area. The developer of the new logistics park based on sustainable principles is DOAS and the leasing agent is 108 Agency Slovakia.

YIT Slovakia wants to improve and transform another abandoned area in Bratislava's Ružinov district. With the new residential complex on Hraničná Street, it wants to build on its other projects in this part of the city. In the first phase, it plans to build an apartment building with 92 flats and a hotel with 72 accommodation units, construction of which should start in 2025, the company announced.

Bratislava will become the 201st global city to have a skyscraper. It will happen this week while the development of Eurovea Tower will reach the 44th floor and get over the 150 metres level. The total high will be 168 metres and the completion of shell construction should be done by the end of this year, developer J&T Real Estate announced.

Penta Real Estate has bought 4.5 hectares of the land in Bratislava Nové Město district. The developer became the owner of this property in the bankruptcy proceeding in August this year. The price of the transaction was not published, the web portal TRENDreality.sk reports.

The Lakeside Park 02 office complex in Bratislava's Nové Mesto has already been approved and the first tenants will start moving in this September. The building is the result of cooperation between Immocap and WOOD & Company. The successful approval of the complex was announced by the developer Immocap.

Slovak developer Corwin has sold the Blumental office centre in Bratislava to Czech real estate fund ZFP realitní fond. With more than 21,000 sqm of lettable area, it is one of the largest Bratislava office transactions of 2022. The price of the acquisition has not been disclosed.

In the Q2 of 2022, the Slovak economy was primarily marked by flaming inflation that puts raw materials costs at new heights. On the other hand, in the same period of this year, the Slovak industry recovered. This was mainly due to the automotive industry which continues to be the driving force of Slovakia’s economy. The office market went through a major change, as most of the stock was reclassified by the Bratislava Research Forum. And in retail, there were fewer projects under construction due to consistently growing construction materials costs and delivery length, the Cushman & Wakefield presents in their new Marketbeat report on the Slovak economy.