Arete Invest has received approval to open a new industrial building in Nové Mesto nad Vahom. The 17,300 sqm warehouse is being used by Factcool, a network of on-line fashion stores. The CZK 300m investment included the construction of infrastructure for the entire industrial park, where the way is now clear for 49,000 sqm of new construction. "The Slovak market is of strategic importance for the development of our fund," said Lubor Svoboda, chairman of the supervisory board of Arete Invest. "After the acquisitions we've made over the past two years, we've begun doing our own development." He said such projects would allow the fund to raise the level of returns it's able to produce for investors. Construction of the building, which can be used to a height of 17.3 meters, began last July. The lease on the new space runs for ten years from the opening of the building.
