Slovenia’s capital Ljubljana presented its most attractive investment opportunities at MIPIM, the world’s most prestigious real estate fair, in French Cannes this spring. The total value of the seven projects: close to 600 million Euros. The projects include a new railway station, geriatric center and various residential, commercial and business buildings.
At the time of the event in Cannes the construction of one of the tallest buildings in Ljubljana was almost completed. The future Intercontinental Hotel on the busy Bavarski Dvor road intersection is being financed by Serbian investors and is - interestingly enough - just across from a large plot of land reserved for Ljubljana’s new Emonika passenger center. Emonika is the largest project presented by the city of Ljubljana and SPIRIT Slovenia, Public Agency for Entrepreneurship, Internationalization, Foreign Investments and Technology, on this year’s MIPIM. Estimated at 250 million euros, the project comprises of a new railway and bus station together with a large commercial center housing restaurants, shops, cinemas, and garages. The Emonika Center is a private-public partnership: earlier this year Prime Kapital, a Bucharest based company with South African capital, entered a partnership with Slovenian Railways and the City of Ljubljana. Prime Kapital is aiming to finish construction by 2020. The most exciting part of Ljubljana is not - however - its center: a lot of commercial development has moved to BTC, a former warehouse area on the outskirts of the city, which has turned into one of the largest commercial centers in the region. One of the owners of land surrounding BTC that is still in industrial use is bakery company Žito. The company decided to move its grain storage facilities elsewhere and turn the valuable land into a commercial and residential area. Žito’s development project is estimated at 150 million euros and includes apartment buildings, shops, offices, hotels and even museums.
Not far away from BTC is Soča rehabilitation center - with a substantial area of undeveloped space nearby. The third project presented at the MIPIM is planned for this location and is comprised of a new medical rehabilitation center and flats for senior citizens. The Geriatric center project is coordinated by the Bank Asset Management Company and is estimated at 50 million euros.
Around 1.700 investment projects have been completed in Ljubljana in the last ten years. The largest pf these was Ljubljana’s new Stožice stadium. The stadium itself was completed some years ago, but the planned commercial center that was to accompany it has remained unfinished because of the financial crisis at the beginning of the decade. The project was planned to comprise of a shopping center, hotel and offices and was worth around 45 million euros.
The Šumi and Tobačna City projects share a similarity: both are planned around historic industrial buildings. Šumi is the location of a former candy factory located near the Slovenian National Theatre Drama and some 100 meters from the Congress Square park: it can hardly get more central in Ljubljana. The mostly residential building planned at the location needs some 35 million euros of investment. Tobačna City is an ambitious project that plans to rework the premises of a former tobacco factory. This factory is the oldest of its size in Ljubljana - a part of the factory is protected as cultural heritage and now hosts small galleries, ateliers and offices. A multipurpose center is planned for the derelict area around the old factory. It is one of the best locations in Ljubljana sandwiched between the city’s center and the large Tivoli park surrounding Rožnik hill. Unsurprisingly, the planned buildings will mostly be residential with some space reserved for offices and commercial use.