Ljubljana City Report - Outsourcing Portal...Retailer Type Size (sq m) City Tuš Supermarket 250...
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Ljubljana City Report H1 2016 City Reports
Transcript of Ljubljana City Report - Outsourcing Portal...Retailer Type Size (sq m) City Tuš Supermarket 250...
Ljubljana City Report
H1 2016
City Reports
COPYRIGHT © JONES LANG LASALLE IP, INC. 2016 Ljubljana City Report H1 2016
Economy
Prime yields
Economy & Investment
2.5%
Inflation June y-o-y
0.3%
Net
Sal
ary
Ap
ril
€ 1,020 Unemployment rate Q1
8.9%
Industrial production April y-o-y
0.5%
Construction activity May y-o-y
- 21.2%
7.50% Retail
-1.1%
+2.9%
Imports
Exports / Imports Jan - Mar y-o-y
Export
0.4%
Retail trade volume May y-o-y
During the first quarter of 2016, Slovenia’s GDP growth was 2.5%.
With greater domestic demand, the positive trend of economic
activity has strengthened.
Private investment activity is expected to remain strong in 2016, due
to improving financial conditions. Domestic demand is set to take
over the growth baton from net exports in the 2017- 2019 period, as
growth slows and is outpaced by import growth. Slovenia’s strong
external position offers protection in the case of markedly weaker
external conditions.
GDP growth Q1 y-o-y
Source: Statistical office of the Republic of Slovenia; Oxford Economics
Source: Statistical office of the Republic of Slovenia; Oxford Economics
During the past 12 months, a rise in retail investment has been recorded within
various cities in Slovenia.
Key transactions
Asset type Property City Seller Buyer
Office / Retail Centrice
portfolio Various
Heta Asset
Resolution AG
Lone Star Real
Estate Fund
Retail Planet Tuš Koper Tuš Real Estate Greenbay
Properties
COPYRIGHT © JONES LANG LASALLE IP, INC. 2016 Ljubljana City Report H1 2016
Supply
Construction of office buildings in Slovenia
Pipeline
Demand
Rental levels
(sq m / month)
Office market
Property Location Size (sq m) Completion
Situla Tridana Bezigrad 6,000 2013
Secondary Prime
€ 12- € 14 € 7 - € 10
• Extensive office development following EU accession in 2004
• Major office destinations – Bezigrad and city centre
• Limited construction activity in recent years
• Previous office completion – Situla mixed-use complex
• Market activity driven by the relocation of existing
occupiers
• The most active sectors have been pharmaceutical,
IT and insurance
• No large scale office schemes in the near term
• Future office development will depend on pre-lease agreements
• Announced projects taking place in the city centre
Project Location Size (sq m) Status
City Tower Severna Vrata S2 Center 21,500 Planned
Šumi Center 25,500 Planned
Vacancy
30%
modern buildings older buildings
20%
<10%
Source: Statistical office of the Republic of Slovenia
0
10
20
30
40
50
60
70
2009 2010 2011 2012 2013 2014 2015
Delivered office buildings Office builidngs under construction
COPYRIGHT © JONES LANG LASALLE IP, INC. 2016 Ljubljana City Report H1 2016
Supply
Rental levels (sq m / month)
Demand
Ljubljana shopping center density
Recent retail developments
Retail market
622 sq m per 1,000 inhabitants
Retailer Type Size (sq m) City
Tuš Supermarket 250 Miklavž na
Dravskem Polju
Spar Supermarket 1,450 Ljubljana
*including BTC retail area
• Major retail zone - BTC
• Continued expansion of supermarkets
• Merkator announces further investment plans
• Construction of Ikea store to start in 2017
• Future supply remains uncertain with one recently announced project
• Increase of new brands on the market
• Decathlon and P.S. Fashion open their first stores in
the country
• Sportina opens the first mono brand Esprit and Only
stores
• Mango returns to the market and announces
expansion plans
Retail trade turnover index
Source: Statistical office of the Republic of Slovenia
Future project type Investor No. of shops City
Shopping centre SES Spar European
shopping centers 90 Ljubljana
• Construction activity remained reliant on the expansion of existing supermarket
chains within the country
94.00%
96.00%
98.00%
100.00%
102.00%
104.00%
106.00%
108.00%
Shopping Centre High street
€ 20- € 25 € 25- € 35
www.jll.rs
COPYRIGHT © JONES LANG LASALLE IP, INC. 2016. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without
prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer
any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.
Andrew Peirson
Managing Director
+381 11 785 0579
Jana Golubović
Senior Research Analyst
+381 11 785 0589
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