Project summary document

Project description
and objectives:

The project involves the planning, construction and operation of the Polus Center, a 57,300 sq m shopping, entertainment, office and parking facility located in the Nove Mesto district of Bratislava.

The project will provide international-standard office, retail and leisure space for the city of Bratislava. As a mixed-use facility, it has the potential to simultaneously promote several areas of the local property sector.

Transition impact:

The project will help to create an efficient, consumer-oriented operational environment in the  property sectors. The Polus Center represents a significant investment in Bratislava and will encourage follow-on foreign investment, both directly in the property sector and indirectly through foreign businesses operating in the Center. Furthermore, the project will create significant employment opportunities for the local population during its construction and operational phases.

The client:

 The client is Polus Inv. s.r.o., a limited liability company established in the Slovak Republic. The client is 100% per cent owned by TriGranit (Bratislava) B.V., a joint venture company owned by TrizecHahn Corp. and Polus Investment Company.

EBRD finance:

The financing consists of a 14-year senior loan of EUR 51.68 million composed of:

• an "A Loan" of EUR 23.00 million for the EBRD’s own account; and
• a "B Loan" of EUR 28.68 million for the accounts of participant banks.

Total project cost:

Environmental impact:

The project was screened B/0, requiring an environmental analysis of the environmental impacts associated with this development. The analysis took the form of an environmental questionnaire, which was completed by the sponsor and, along with geological reports, sent to the Bank for review. The answers to the questionnaire and the geological reports confirmed the following:

• The construction site is suitable for its intended purpose and the groundwater underneath the site is not contaminated by hydrocarbon or other organic pollution;
• The buildings will be built and operated according to the national and local environment, health and safety requirements and in accordance with relevant EU standards and good international practice;
• The buildings and their facilities will not utilise asbestos or asbestos-containing materials, PCBs, urea or formaldehyde;
• The buildings will include environmentally positive features, such as the use of insulation and thermostatic controls to save energy;
• Adequate plans are in place for waste management, including the recovery and recycling of paper, and emergency response.
• The Sponsor will report to the Bank, on an annual basis, on environment, health and safety issues associated with the operation of the centre.

The Sponsor will report to the Bank, on an annual basis, on environment, health and safety issues associated with the operation of the centre.

Technical
cooperation:

None

For consultant opportunities for projects financed by technical cooperation funds, visit procurement of consultants.

Company contact:

EBRD contact:

Michele Small, Operation Leader: smallm@ebrd.com

Business opportunities:

For business opportunities or procurement, contact the client company.

General enquiries:

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com