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OTP Real Estate Investment Fund-owned Mendota Invest has received the final permit for the construction of the commercial part of the future Ljubljana passenger center, with works to start in March, the investor announced on Monday.
The project known as Emonika, will cost more than EUR 350 million and is expected to be completed by the end of 2026, right next to the new Ljubljana passenger center.
The project will include a residential complex with 187 apartments, 15,000 square meters of office space,
a tower block that will be Ljubljana’s tallest office building with 20,000 square meters of space,
a shopping center with 80 shops, and two hotels. The three-star hotel will have more than 180 rooms, while the four-plus-star hotel will have more than 200 rooms and suites.
The construction of Emonika will take place at the same time as the construction of the passenger center, but the projects are not being built by the same investors: the new railway terminal is being built by the state and the new bus station by Slovenian Railways. A major upgrade of the road and utility infrastructure in the area is being financed by the city of Ljubljana.
Emonika is OTP Group’s largest investment in Slovenia. It is a symbol of our respect for Slovenian society and our deep belief in the future of the Slovenian economy,”
stressed Sándor Csányi, CEO of OTP Group, according to the Slovenian news agency STA.
Csányi is confident that the project will create added value for the city and its citizens, while at the same time it will be an important contribution to the Slovenian real estate market, “as there has never been a commercial real estate project of such complexity and scale in the Slovenian capital.”
Mendota Invest director Pál Forgács emphasized that Emonika will be a work of architectural art, as well as a commercial and social center. It will be one of the first multi-purpose buildings in Ljubljana to be BREEAM certified (Building Research Establishment’s Environmental Assessment Method) for quality and sustainability, he added.
The project, which includes a new passenger center and a commercial section, was conceived in 2007, as a public-private partnership between the Slovenian national railway company and the Hungarian-Canadian TriGranit group, but it never materialized. The government decided in 2017 to provide public funding for the public investment part of the project, and OTP joined the initiative as a private investor in 2019.
Via MTI; Featured image via Pixabay
