The second phase of Twin City in Bratislava, Slovakia, is the biggest office project in the pipeline in Europe, according to the latest edition of PropertyEU's annual Top Developers survey.
The second phase of Twin City in Bratislava, Slovakia, is the biggest office project in the pipeline in Europe, according to the latest edition of PropertyEU's annual Top Developers survey.
The 150,300 m2 scheme is being developed by Bratislava-based developer HB Reavis and is currently in the planning phase. The project is slated for completion by 2019.
Three other sections of the Twin City project - Twin City A, B and C - are currently under construction. Earlier this year, HB Reavis announced that it has secured Swiss Re as its first major tenant for the Twin City office complex. The Swiss insurance company has taken a 10-year lease on 14,200 m2 and has an option to take a further 6,300 m2 which is virtually an entire building. Swiss Re staff are expected to move into the office tower by mid-2017.
Commenting on the lease, HB Reavis Slovakia CEO Adrian Rác said: ‘We are proud to have secured a client as important as Swiss Re. Our integrated business model that covers the whole chain, from development through construction and asset management, enables us to work flexibly with our tenants, even well ahead of completion and occupation.’
The Twin City development is divided into 12 phases that will be built progressively. Completion of the first building, Office Building A, with a floor space of nearly 16,000 m2, is planned for this year. With two further buildings, the first block of Twin City will combine modern offices, shops and services on the ground floor with a total leasable area of more than 60,000 m2.
HB Reavis claims the Twin City development will link the historic centre with a modern business district which has been designed to stimulate a healthier work-life balance and includes ample underground parking for bicycles, as well as locker rooms and showers for cyclists. 'Twin City, whose name reflects the connection between the historic and the modern, has been designed to complement and blend with the existing classical architecture,' the company says on its website.
Twin City is planned to be BREEAM certified with an ‘Excellent’ rating and energy certification of class A1.
Since its establishment in 1993, HB Reavis has developed a total of 750,000 m2 of modern offices, retail and entertainment space in addition to logistics facilities. A further 1 million m2 of developments are in the planning, permit or construction stages.
HB Reavis operates in the key markets of Central and Eastern Europe (Poland, Czech Republic, Slovakia, Hungary), the UK and Turkey.