VAV invest s.r.o.
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974 01 Banská Bystrica
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Press release
27 May 2009
Construction works on the shopping centre EUROPA SHOPPING & RELAX CENTER in Zvolen started in full scope this week. The investor of the center is  Europa SC ZV a.s., a subsidiary of VAV invest s.r.o., Banská Bystrica. The general supplier of the construction is INGSTEEL Bratislava. “For the time being, we are financing the construction from our own funds and we are in negotiations about further financing with bank houses in Slovakia and abroad”, said Ing. Peter Valach, the Chairman of the Board of Directors of Europa SC ZV a.s., and the General Manager of VAV invest. “The occupancy rate of premises in the shopping center is currently more than 70 percent; right now we are selecting the main tenant of the supermarket out of two renowned operators.”

Works started on the base of the structure, which will be under the surface level of the Hron river and the underground water level. It means that, before digging the construction pit for the shopping center construction in the area called “Jama”(Pit), it is necessary to perform insulation walls an pumping wells. After completion of the base, it will be possible to take away the auxiliary technical structures. It is obvious that building the base of the construction is not simple. It also includes overlaying of infrastructure networks- the quantity of earth that needs to be removed during digging works is 3,500 m3, which will be transported by trucks to the “Čierne zeme” (Black Earth) area. (That is where RETAIL PARK Zvolen should be built; its preparatory works are already intensively progressing.) Until the beginning of September, the base for EUROPA SHOPPING CENTER Zvolen should be completed.

The project consists of two stages. There is a separate EUROPA SHOPPING CENTER, located in the Jama area and is connected with a glassed pier over the street to the second section, RELAX CENTER, on lands where the former Mier cinema and a hostel are standing now. There are also plans to develop this part of Zvolen and revitalize the park. EUROPA SHOPPING CENTER will have two floors above the ground with the area for rent of 10,500 m2, for shops, cafes and services. Visitors of the shopping center can use the underground parking lot, under the center. The Mier cinema, which ended its operation, will be pulled down together with the hostel and the second part of the modern RELAX CENTER with the area for rent of 10,500 m 2 will be built on that place and adjacent lands and connected to the 1st stage. Together it will offer 21,000 m2 of the area for rent. On the 3rd floor, inhabitants of Zvolen will have the possibility to use two multiplex cinemas and a fitness center. The object will later also provide parking house for more than 400 vehicles. 

The 1st stage of works should be completed until October 2010, its opening is planned in June 2012.  It means that inhabitants of Zvolen – similar to Banská Bystrica – should get the “EUROPA” project before Summer  2012. 
The 2nd stage – RELAX CENTER – Start of the construction is planned in Autumn 2014. The completion is expected in Spring 2016 and opening of RELAX CENTER in Spring 2016.
Development company VAV Invest from Banská Bystrica is also preparing development of EUROPA RETAIL PARK Zvolen. Construction works started on 27 hectares of land, close to the plant of Continental, in the city industrial zone. The company has already been granted the construction permit for infrastructure networks. It plans to build them until the end of 2009. There are several retail chains that manifested their interest in premises in the park and plan to build their own outlets. There are negotiations in progress running with TESCO retail chain, furniture company KIKA or ASKO or hobby markets HORNBACH or OBI. Among other applicants are truck and other technology dealers, as well as logistics companies. During the build-up of infrastructure networks we will use part of the earth from digging works at EUROPA SHOPPING CENTER Zvolen.

Mgr. Iveta Bieliková
PR manager VAV invest, ESC ZV
0903 529 762