HB Reavis sells Twin City to South Korean investor

It is the very first South Korean investment in real estate in Slovakia.

Twin City Tower in Bratislava.Twin City Tower in Bratislava. (Source: HB Reavis)

The HB Reavis developer, which is currently building up the new Nové Nivy city zone in Bratislava, has sold Twin City Tower, one of the capital's landmarks, to companies backed by the South Korean capital.

This is, in fact, the first real estate investment backed by the South Korean capital in Slovakia.

Read also:What does the biggest construction site in central Europe look like? Read more 

The developer sold the 23-storey office tower for €120 million to the Valesco Group, a real estate investment manager from London, and AIP Asset Management, an asset manager based in Seoul.

“This prime asset, coupled with an exceptional principal tenant in Amazon in the growing core of Bratislava, offers a unique and compelling investment opportunity,” said Shiraz Jiwa, CEO of The Valesco Group, as quoted in the firm's press release.

In the vicinity of Twin City, other international companies are also seated, including Swiss Re, Bayer, PWC and SAP.

“We look forward to providing other additions to the zone, which will enhance productivity and the well-being of its users," said Marian Herman, CEO of HB Reavis, as quoted in the press release.

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