Galan shopping center sold
Foreign company Franco Real Estates bought the 11,000 sqm Galan shopping center near the Bratislava airport for €7m. The center has been being auctioned off by Dražobná spoločnosť since this February, and the initial asking price was €16m. The new owner plans to use the building for stores, but would not disclose any details. The center, which sells furniture and accessories, was built by Peter Galan in 2004-07 using a VÚB bank loan. It got into trouble due to competition from other furniture retailers and the economic slowdown after 2009.