Emonika megaproject to transform Ljubljana’s transport hub

The start of construction of Emonika, the commercial complex of the future Ljubljana Passenger Centre, was marked in Ljubljana. The ceremony involved a burial of a time capsule to highlight the importance of what is currently the biggest private real estate project in the country.

Expected to welcome first visitors in 2027, the commercial hub will include a shopping centre, two hotels, business premises and apartments. According to last year's estimates, the price tag of the project is upwards of EUR 350 million, CE Report quotes STA.

Preparatory work for the construction started in spring 2024 after a building permit was obtained. The complex, which is to be located next to the new passenger hub, is part of a major push to redevelop the area.

Works are also underway to upgrade the train station in what is a public investment due to be completed in 2026, and construction of a new coach station is expected to begin this year in what is a project managed by the Slovenian Railways.

Meanwhile, Emonika's investor is Mendota Invest, which is owned by the Hungarian OTP Bank Group. OTP Slovenia is currently the second largest bank in the country.

OTP Bank Group's chairman and CEO Sandor Csanyi said at today's ceremony that the Emonika project was a commitment to Slovenia and its development.

A 100-metre-high building that will be part of the complex will house OTP Slovenia's new headquarters.

Ljubljana deputy mayor Rok Žnidaršič described the event as an important milestone, saying that the public-private project will be a symbolic link between the country and Central Europe.

Infrastructure Minister Alenka Bratušek sees this public-private partnership as a key project in Slovenia that aims to strengthen its infrastructural backbone and bring to life a modern transport and commercial hub.

Emonika is the cherry on top of the Ljubljana Passenger Centre, she added, as it will make the area more attractive and provide a meeting place for citizens and visitors.

She hopes that the construction timeline will hold and that there will be more projects like that in the future.

Also attending the ceremony, Economy Minister Matjaž Han said that the Emonika project was an expression of confidence in Slovenia and an opportunity for the local economy. The complex will open up several hundred new jobs in different sectors, he added.

According to him, Emonika is also a symbol of great cooperation between Slovenia and Hungary, while the entire Ljubljana Passenger Centre project will help consolidate Slovenia's geostrategic advantage.

The time capsule that was buried to mark the start of construction of Emonika included today's editions of a Slovenian daily and three Hungarian newspapers, a replica of a ceramic Roman-era cup that was unearthed at the site, a detailed map of Ljubljana and a USB featuring Emonika's designs, the newspaper Dnevnik reported.

Austrian builder Strabag was selected to build the northern part of Emonika in a deal with Mendota Invest that exceeds EUR 80 million. Strabag is already preparing ground for the southern section of Emonika too.

The investor has also signed a lease contract with Mogotel Hotel Group, which is owned by the French group Accor, for the first of the two planned hotels at Emonika. This will be the first Tribe hotel in Slovenia, operating under Accor's midscale hotel brand.

The project involving the new passenger centre and the commercial part was conceived in 2007 as a public-private partnership between the national railway operator and the Hungarian-Canadian group Trigranit, but the original project never took off and the partnership was dissolved after years of legal proceedings.

In 2017, it was decided that the public investment segment will be funded by the state, and OTP emerged as the new private investor in 2019.