At the beginning of the year, the developer group HB Reavis announced that it is closing real estate projects in Slovakia, meaning that the Slovak real estate market just lost one of its biggest players.
According to knowledge of INDEX magazine, HB Reavis wants to complete the move, which includes the departure of majority owner Ivan Chrenko to the Czech Republic, by selling off its lands.
Since they are located in lucrative locations in Bratislava, a battle for them between competing developers may soon break out.
Retreat from positions
Usually a developer's acquisition policy is indicative of their plans. If they want to grow, they buy lands. When they sell lands, it can mean that they are retreating from positions or addressing problems.