Investments amounting up to EUR 2 billion in Bratislava will not be classified as a significant investment by the Slovak government. Two investors wanted to construct several venues in the Slovak capital with state financial support. The status of a significant investment enables expropriation allowances or a waiver of local development fees. The developers withdrew their claims due to bureaucracy while the municipal office strictly opposed the project.
The two investors planned to build a bus station, a congress centre and a funicular, and other buildings, in several zones of the capital city. They asked the government to granting this project the status of a significant investment. After months of evaluating their plans, they withdrew their bid. Daniela Stričková from J&T Real Estate: "Following the non-standard process of viewing the claim and due to the complicated okaying procedure, the company has decided to withdraw its bid for now."
Both of the investors, however, claim that their construction plans remain the same. Without the status, the construction works will take much longer.
Last week, Bratislava municipal parliament disagreed with exceptions for the developers. The government was not bound by the decision of the municipalities. Nevertheless, many comments were provided by several ministries. Martina Jamrichová from the HB Reavis company: "The reason for withdrawing the claim is the further process of providing additional details in close co-operation with the city of Bratislava, the government of the Slovak Republic and all the institutions involved."
Gabor Grendel, one of the opposing members of the municipal parliament, claims: "We do not oppose the development of Bratislava. We, however, support development plans carried out in co-operation with, not without, the municipality."
Bratislava mayor Ivo Nesrovnal welcomes withdrawing the claim as it might open the discussion on public interest. "I find it a step which will enable us to open the debate on the law on significant investments."
" It seems that we will have to change the act on significant investments," said deputy Prime Minister for investments Peter Pellegrini regarding the issue. As he added, he would suggest that the government be given this task in order to reflect the new form of investments, as the current law was adopted in 1999.
