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Istropolis culture and congress centre changes hands

The new owners have not yet made it clear whether they plan to keep the centre or pull it down

Istropolis(Source: Sme)

The Istropolis culture and congress centre at Trnavské Mýto square in Bratislava has a new owner. It is the company First SPV, founded by the development companies Immocap Group and the Slovak arm of YIT. Each of the developers holds 50 percent in First SPV.

First SPV succeeded in a selection proceeding promulgated by the original owner, The Unified Property Fund of Trade Union Unions in the Slovak Republic. Apart from the centre itself and detached buildings part of the transaction includes 3.7 hectares of land. The sum of the transaction has not been revealed.

The centre is located on one of the busiest transportation hubs and on the edge of the wider centre of the city.

After the Park Kultúry and oddychu (PKO) cultural, social and education venue on the Danube embankment was pulled down, Istropolis is one of a few places in Bratislava where large concerts, congresses and cultural events can be held.

The two developers perceive Istropolis as an opportunity to create a modern multifunctional space while preserving its cultural and social function.

“It would be premature to talk about a concrete plan at this moment; we will inform the public about any future steps,” Martin Šramko, CEO of the Immocap Group, said as cited in a press release.

Milan Murcko, general director of YIT in Slovakia, added that the answer to the question of how this area would look in the future can stem only from a discussion with all the stakeholders.

From the words of the developers it is not yet clear whether they plan to keep the centre or pull it down. They promise an architectural tender.

Istropolis, or the House of Trade Unions, was built based on a project by architects Ferdinand Konček, Iľja Skoček and Ľubomír Titel between 1973-1981. It is one of the largest buildings constructed during the previous communist regime. Its biggest hall has a capacity of 1,280 people.

Topic: Real Estate


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