Table of Contents
Executive Summary — 5 Key Features of This
Report — 6 SWOT Analysis — 7 Slovakia
Real Estate/ Construction SWOT — 7 Slovakia Economic
SWOT — 8 Slovakia Business Environment
SWOT — 9 Real Estate Market
Overview — 10 Key Projects — 12
Construction Overview — 12 New and Ongoing
Projects — 12 Residential
Construction — 12 Commercial
Construction — 13 Commercial Construction – Latest
Developments — 13 Industrial
Construction — 14 Industrial Construction – Latest
Developments — 14 Major Projects: — 15
Table – Slovakia Major Projects — 15 Real Estate
Investment Trusts In Q309 — 17
Introduction — 17 Table: FTSE EPRA/NREIT Global Real
Estate Index, Total Returns (US dollar terms) — 18 Table:
US REITs, Total Returns (US dollar terms) — 19
Pointers — 23 Industry Finance
Outlook — 24 International
Financing — 24 Global Banking Sector
Outlook — 24 Table: Client Loans, 2007-2013 (% change
y-o-y) — 25 Table: Loan-Deposit Ratio,
2007-2013 — 27 Domestic Financing — 28
Table: Levels (EURbn) — 28 Monetary
Policy — 29 Industry Forecast
Scenario — 31 Table: Housing prices at a glance - Central
and Eastern Europe etc — 31 Table: Office Rents - Central
& Eastern Europe- CBRE — 32 Table: Slovakia-- Construction
and Industry Data — 34 Economic
Outlook — 35 Table: Slovakia - Economic
Activity — 37 Real Estate/ Construction Business
Environment Rating — 38 Table: Europe Real
Estate/Construction Business Environment Ratings — 38
Slovakia’s RECBER — 39 Project Finance Ratings:
Outlook for Central and Eastern Europe — 40 Table: Design
And Construction Rating — 42 Table: Commissioning And
Operating Rating — 43 Table: Overall Project Finance
Rating — 45 Slovakia’s Business
Environment — 46 Business Environment Outlook - Q3
2009 — 46 Table: BMI Business And Operational Risk
Ratings — 46 Latest Developments — 47
Table: BMI Legal Framework Ratings — 48
Institutions — 50 Infrastructure — 52
Table: Labour Force Quality — 53 Market
Outlook — 54 Table: Europe, FDI Annual
Inflows — 55 Table: BMI Trade
Ratings — 56 Table: Top Export
Destinations — 58 Security Risk — 59
Company Monitor — 60 Metrostav SK — 62
Eastfield Atlas — 64 Ballymore — 65
Convergence Capital — 66 Cresco
Group — 67 Quinlan Private Golub — 68
BMI Forecast Modelling — 69 How We Generate Our Industry
Forecasts — 69 Construction
Industry — 69 Bank Lending — 70 Real
Estate/Construction Business Environment Rating — 70
Table: Weighting Of Indicators — 71 Project Finance
Ratings Indicators — 73 Table: Design And Construction
Phase — 73 Table: Commissioning And Operating Phase
– Commercial Construction — 75 Table: Commissioning
And Operating Phase – Energy And Utilities — 76
Table: Commissioning And Operating Phase –
Transport — 77 Sources — 78
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