New residential and office projects change the skyline of Bratislava. (source: TASR)
Rising Star
One rising star in the ranking of largest residential developers could be the United Industries group. It has launched its first ever development project under the name Cukrovar near the historical centre of Trnava, western Slovakia. The group managed to sell 58 residential units last year. If the ranking was compiled only by sales, United Industries would be in the top 10 of the biggest players. The group has 180 housing units under construction.
The property development market almost came to a standstill in 2023. Developers experienced challenging months, marked by rising interest rates and inflation, as well as hesitant buyers.
How have the past months affected the position of individual developers? This question is answered by the ranking of the largest residential developers compiled by The Slovak Spectator, as part of its Largest in Business project.
This ranking is based on data provided by the developers. The main criteria for compiling the ranking were the area of projects under construction (at the end of 2023), the area of completed residential projects and the number of flats sold in the past year. In this case, however, we have reduced the ranking percentages compared to last year as sales have dropped significantly.
The formula also included figures for projects approved between 2021 and 2022, and the area of planned projects for which the EIA process has already started.
