A long-planned residential development in Martin, Slovakia, is moving forward after the Spanish firm Bilbao secured additional land and received approval for its fourth iteration of the project. The company now anticipates an investment of 50 million euros.
Bilbao, a Vrútky-based developer with Spanish ownership, originally proposed the Turčany zone in 2008. The latest plans, recently accepted by local authorities, call for 878 housing units, a 56-unit increase over the previous update from early 2024. The project represents one of the largest residential undertakings in the region.
In addition to the housing, Bilbao will construct two retail parks totaling over 10,000 square meters, creating approximately 50 jobs. This expansion comes after the company acquired additional land, increasing the project’s footprint from 10.5 hectares to over 12.5 hectares. The addition of retail space signals a broadening of the developer’s vision for the area.
The company has revised its plans multiple times over the past 17 years, scaling back and then expanding the scope of the development. The project previously underwent environmental impact assessments in 2008 and 2009, but was delayed due to the global economic crisis. Bilbao’s current plans are based on updated zoning regulations.
According to filings, Bilbao’s current capital base exceeds 2 million euros. The development is expected to partially address demand for residential space in Martin and contribute to the city’s economic development.
