Monday, 17 March 2025
After nearly five years of planning, Immocap is preparing to break ground on the long-awaited New Istropolis development. The project, which has undergone significant revisions since its initial unveiling in 2020, is now moving forward with a smaller community hall and the removal of the originally planned hotel.
Martin Šramko, CEO of Immocap, discussed these changes, the current state of the real estate market, and the broader vision for the project in an interview with INDEX. The real estate executive explained that market conditions, public feedback, and sustainability goals played key roles in reshaping New Istropolis.
The New Istropolis project was first presented in 2020, but progress was slowed by a lengthy permitting process and the impact of external global factors such as the COVID-19 pandemic, the war in Ukraine, rising energy costs, and inflation. Now, with a zoning permit secured, Immocap has reached an important milestone and expects to start construction this summer.
Despite delays, the vision for New Istropolis remains ambitious, combining public spaces, modern energy solutions, and a revitalized cultural hub. One of the most significant changes, however, is the downsizing of the planned community hall.
“Our, as well as the city’s, surveys showed that the optimal capacity for the hall is 3,000 people standing and 1,800 seated,” said Šramko, explaining why the venue was scaled down from its original design. While it will still be a key cultural and event space, the adjustments were made to better fit demand and ensure sustainability.
Key Adjustments and Project Enhancements
Since 2020, New Istropolis has undergone several key changes:
• Downsized Community Hall: Originally designed for a larger audience, the hall will now accommodate 3,000 standing and 1,800 seated guests to better reflect current demand.
• Removal of Hotel Component: The original masterplan included a hotel, but market trends and changing priorities led to its removal from the development.
• Enhanced Public Spaces: The updated design features two large squares and an inner-block park, offering more green and social spaces for the community.
• Introduction of the House of Technology: This addition strengthens the project’s focus on innovation and education, positioning New Istropolis as a hub for technological and business growth.
• Sustainable Energy Solutions: The project will introduce Slovakia’s first-ever central energy system, where buildings will share and exchange energy, making it one of the most sustainable developments in Central Europe.
“We made sure to meet the most stringent ESG criteria (environmental, social, and governance standards),” Šramko added, emphasizing that the project will be one of the most innovative and energy-efficient in the region.
Located in Bratislava’s Nové Mesto district, New Istropolis aims to revitalize the area while preserving its cultural and community significance. The project is expected to transform the former Trade Union House site into a modern, multi-functional district, with a focus on sustainability, public engagement, and urban connectivity.
As Immocap prepares to break ground later this year, the adjustments to the masterplan reflect both economic realities and a forward-thinking approach to urban development. The company remains optimistic that New Istropolis will become a landmark project that blends cultural heritage with contemporary city living.
With construction set to begin in the summer of 2025, Bratislava is one step closer to welcoming a new era for Istropolis—one designed with both the past and future in mind.
