Thursday, February 16, 2012

Construction of D1 Outlet to Start in February

BRATISLAVA/SENEC, SLOVAK REPUBLIC – Development of Slovakia’s first outlet center, the D1 Outlet Bratislava located near Senec, has moved into the next phase of implementation. The 1st of February marked the start of construction of future discount shops, and also operations in close proximity to them.  “I can say, having completed preparatory work and secured financing, that we are today launching actual building of the outlet," said Ivan Čarnogurský, CEO of the IPEC Group, which is investing in the project.

Like the preparatory phase before it, construction and the complete building of infrastructure will be funded mainly from the investor's own resources. “In these times where banks have considerably tightened financing of commercial projects, it is primarily up to investors to follow through and make such a project happen, to demonstrate how it can be viable and then ask the banks for financing,” Čarnogurský explained.  

Costs to complete the first phase of construction should reach 10 million euro. The necessary resources for the current phase were obtained by the investor from commercial utilization of land surrounding the future outlet, where administrative and commercial operations have gradually grown, though also from transfer of available sources at the successful Salonta project in Romania.

In coming months, the investor will be building a town square to form the heart of the entire outlet, as well as other units that have already been constructed. A fireplace center, Hobby Expres and a baby market are scheduled to be added to the outlet.  The outlet will also include a motorway restaurant, similar in concept to those seen along Austrian autobahns. Construction work on other parts of the outlet and a retail center will run in parallel, with a 15,000 square meter floor area (8,500 for the outlet, 6,500 for retail) to be completed by spring of 2013.  

Preparatory work for construction of the D1 Outlet began in late 2010, when infrastructure, utilities and the first section of the parking areas were completely built. The outlet already has its own fuel station, operated by Shell and considered to be the fastest growing operation in all of Slovakia. Last autumn, Austrian tailored furniture manufacture P. Max welcome its first customers.

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