AmCham Real Estate Committee

As AmCham is truly a membership-oriented organization, and very much values input from its members, another expansion of its policy activities came near the end of the year when AmCham launched its newly-formed Real Estate Committee. This initiative came at the request of several AmCham members interested in accessing AmCham’s extensive network to directly address a variety of issues impacting companies in the broad real estate business sector. Some similar topics are partially covered by other committees, but numerous legislative changes in this field taking place over the past few years have created a demand to address them with full focus through a separate committee. This will provide a new platform for AmCham members from the real estate field to communicate with the Government and the respective ministries. The committee will be chaired by Tatiana Prokopová of Squire Patton Boggs, who introduced its agenda for the near future.

CSR and Transparency

What led to the creation of the Real Estate Committee?
Lots of new legislation being prepared in the real estate field in the last couple years. It is especially worth to mention the new Construction Act, the new Expropriation Act, the Development Fee Act, the Energy Efficiency Act and the Act on the acquisition of agricultural land, or the new Cadastral Act. These acts can fundamentally affect the real estate construction sector, therefore we thought it would be beneficial to connect major real estate players who are members of AmCham and use the opportunity to influence these legal norms in the approval process or to react to the adopted versions in the form of position papers addressed to the Government and the relevant ministries, to do our best and make a change.

What are currently the main issues and concerns addressed by this committee?
First of all, the committee has already addressed the current hot topic from this sector even before its first session officially took place – the bill on local development fee. The bill was adopted by the Parliament and was expected to be signed by the President. Ahead of its first meeting, the committee already prepared a request for the President of the Slovak Republic to veto the bill and return it to Parliament. The bill has many downsides which may result in an increase of price levels of commercial as well as residential real estate in Slovakia. Unfortunately, we already know that the President did sign the bill in the end.

What are the main goals this committee has for the near future?
To influence the preparation of and to implement desired improvements in the upcoming Construction Code, the Cadastral Act, the Act on Real Estate Brokerage and Real Estate Brokers, and other legislative changes which impact the real estate sector.

Tatiana Prokopová, Squire Patton Boggs

AmCham Slovakia