The view from the Danube embankment
in Petržalka shows the skyline shaped
by the new city’s “downtown”. (source: Jana Liptáková)
While 2023 could be described as a crisis year in terms of the real estate business, last year things started to settle down. Buyers began returning to the market and property sales took off. This significantly improved the mood of developers. Revived sales motivated them to launch new projects.
How did this situation affect the positions of the strongest players on the real estate market? The answer to this question is given by the ranking of the largest Slovak residential developers, compiled by The Slovak Spectator as part of its Largest in Business project.
We have based our analysis on data provided by developers. The main criteria for determining the ranking were the area of projects under construction at the end of 2024, the area of completed residential projects and the number of flats sold in the past year.
The formula also included projects completed between 2022 and 2024 and the area of planned projects for which the environmental impact assessment (EIA) process has already started.
10 LARGEST DEVELOPERS 2025: RESIDENTIAL REAL ESTATE
1. CRESCO REAL ESTATE
2. JTRE
3. Penta Real Estate
4. YIT Slovakia
5. ISMONT
6. Lucron Group
7. Alto Real Estate
8. VI GROUP
9. ITB Development
10. Reinoo
The ranking was impacted by the following criteria: points gained from the residential area of the developer’s projects carried out in Slovakia (weight 80%), the number of flats sold in Slovakia in 2024 (weight 20%). The total number of points = 1*(area approved in 2024 + area of project under construction) + 0.5*(area approved in 2022+2023) + 0.25*(area of planned projects
10. Reinoo
Flats that received final building approval in 2024: 207
Flats that received final building approval in the years 2022 to 2023: 148
Flats under construction: 148
Number of flats sold in 2024: 114
Ranking position in 2023: -
Reinoo, a company from Žilina, has made its way into the top 10 of the largest residential developers for the first time. It is a developer whose main representative is the original founder of the internet company Azet, Milan Dubec. Reinoo operates in northern Slovakia. Last year it completed another stage of the Pod Zábrehom project in Púchov, and in Žilina it completed the third stage of the Zelené Vlčince project, which brought 74 residential units to the market. Reinoo is currently implementing the fourth stage of Zelené Vlčince, comprising another 148 flats. It plans to build hundreds of flats in the third stage of Pod Zábrehom and in several projects in Žilina. It is expected that the developer will also enter the Bratislava real estate market.
