Arete Group starts construction of a new manufacturing hall for leading european manufacturer of steel chimneys near Košice

The Arete investment group, which includes the newly established Arete Industrial fund, has commenced construction works on specialized manufacturing hall for Steelcon Slovakia s.r.o., which is a member of a Danish group focused on production of steel chimneys.

At the beginning of November, Arete Epsilon SK, member of real-estate investment group Arete, completed acquisition of land plots in an industrial park in Veľká Ida at the border of Košice city, a regional capital of East Slovakia region. This industrial park allowing investors to draw governmental subsidies has been very appealing to international manufacturing companies long term.

The Arete group has started construction of the new production hall for the Danish company Steelcon Slovakia shortly after the acquisition. It should start production of steel industrial chimneys mainly for export during the second half of 2020. This highly customized production hall worth almost 13 million EUR confirms attractiveness of Slovak investment market.

After completion of the hall, Arete group will expand its presence on the Slovak market and will grow its portfolio of production and logistic properties to 125,600 sqm in total. „Steelcon Slovakia is a very reputable and stable partner to us, who understands Slovak market benefits and considers its decision to stay in the region for at least next 15 years as very strategic,“ says Tomáš Novotný responsible for strategic development and asset management within Arete group.