What MODEX does

MODEX is a Slovak private joint-stock company (a.s.) headquartered in Žilina and operating as a subsidiary of TERAZ. The business was originally established in 1950 as "Vkus," a textile manufacturer, and was renamed Modex in 1969; it ceased textile production in 2021 and pivoted to real estate development. Its sole active project is Modex Residence, a premium residential development on the company's former factory site in Žilina comprising 48 apartments (2-, 3-, and 4-room configurations), 5 commercial spaces, and 95 parking spaces.

The development is differentiated by a "Smart Living" home automation system across units, supplemented by green roofs, EV charging infrastructure, and barrier-free access. Construction is delivered through partnerships, notably with ODU Trade (construction), Credo Al (windows and doors), and Good Vision (marketing). The underlying technology stack is conventional real-estate construction with consumer-grade IoT automation rather than any proprietary AI or data platform.

The business model is asset development and unit sale to end-buyers, with go-to-market via a dedicated showroom in Žilina, the corporate website (modex.sk), and a direct sales team. Targeted customer segments are Young Families, Real Estate Investors (with units marketed as investment apartments), and Business Owners. No public revenue, pricing, or funding figures are disclosed, and recognition is project-based rather than recurring.

Name

MODEX

Legal name

Modex a.s.

Website

https://modex.sk

Company type

Private

Founded year

1950

Operating status

Operating

Short description

MODEX is a Slovak real estate developer and subsidiary of TERAZ, building the Modex Residence project in Žilina — 48 premium apartments, 5 commercial spaces, and 95 parking units with integrated smart-home technology — targeting young families, investors, and business owners.

Ownership category

akta.pro rank

Headquarters

HQ city

Zilina

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel

Revenue model

1. Residential Apartment Sales: One-time sale of residential apartments (2, 3, and 4-room units) ranging from 39-105 m². Each apartment includes one garage parking space and storage cellar.
2. Commercial Space Leasing: Five commercial spaces on the ground floor ranging from 160-227 m² for retail and service businesses.
3. Investment Apartments: Apartments purchased for rental income investment. Business purchasers can claim VAT deduction.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

MODEX develops and sells premium residential apartments and commercial spaces through the Modex Residence project in Žilina, Slovakia. The development comprises 48 apartments (2, 3, and 4-room configurations, 39-105 m²), 5 commercial ground-floor units (160-227 m²), and 95 underground parking spaces. Each apartment integrates Smart Living home automation technology and is supported by green roof sustainability features and EV charging infrastructure.

Product overview

MODEX operates as a real estate development company transforming a former textile factory site in Žilina into Modex Residence, a modern residential complex. The portfolio consists of Modex Residence (48 premium apartments in 2, 3, and 4-room configurations plus 5 commercial spaces), complemented by the Smart Living smart home system feature. Apartments come with underground parking, private storage units, and access to amenities including green roofs and a children's playground.

Differentiator

Problem solved

Functional benefit

Products and services

• Modex Residence Residential Apartments A premium residential apartment complex in Žilina, Slovakia featuring 48 apartments in 2, 3, and 4-room configurations (39-105 m²), with sizes from 39 m² studios to 105 m² 4-room units. Each apartment includes one garage parking space, a private storage cellar, and integrated Smart Living home automation. Some 4-room units on the 5th floor feature large terraces up to 341 m². Target customers include families with children, individual buyers, and real estate investors.
• Modex Residence Commercial Spaces Five commercial spaces on the ground floor of Modex Residence, ranging from 160-227 m² each, available for lease to retail, cafe, shop, and service businesses. Located in a prime city center position with high residential and shopper footfall.
• Investment Apartments (Investičné apartmány) Apartments within Modex Residence designated for investment purposes, available for purchase through business entities with VAT deduction eligibility. Includes complete finishing with floors, tiles, interior doors, sanitary ware, and Smart Living smart home features. Designed for buyers seeking rental income or business asset acquisition.

Quantifiable outcome

• Green roof reduces interior temperature by up to 3°C in summer
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor, core and flagship.

• Nová synagóga ŽilinaminorOthers · 24 March 2023Charitable partnership for community event 'Teraz Čosi z Modexu' donating textiles and materials from former Modex factory.
• Čosi bazárminorOthers · 24 March 2023Handmade design shop collaborating on charity event for textile donation from former Modex factory.
• ODU TradecoreImplementation/ SI/ Consulting PartnerConstruction company responsible for building Modex Residence. Handles all construction work for the residential development project including underground garage and residential floors.
• Credo AlcoreTechnology or IntegrationWindows and doors supplier for Modex Residence, providing quality windows and doors as part of the apartment standard package.
• Good VisioncoreGTM or Marketing PartnerMarketing company responsible for Modex Residence promotional materials and marketing strategy.
• TERAZ (Parent Company)flagshipStrategic or Co-development PartnerParent company organizing the Modex Residence project. Multiple subsidiary companies collaborate on the development including construction, marketing, and sales.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Penta Real Estate: Slovak investment group's real estate arm developing residential and commercial projects in Slovakia. Shares Modex's Slovak market focus and mid-to-premium residential positioning.
• JTRE: One of the largest Slovak and Czech residential and mixed-use developers. Develops premium apartments in regional Slovak cities with comparable unit mix, making it the closest scale and product comparable to Modex Residence.
• YIT Slovakia: Nordic-backed residential developer active in Slovak regional markets including Žilina-area projects. Targets similar end-user segments (families, urban professionals) and comparable mid-rise product positioning.
• HB Reavis: Major Slovak-headquartered developer with residential and mixed-use projects across Central Europe. Overlaps with Modex in premium urban residential product and Slovak market presence.
• Cresco Group: Czech-founded residential developer active across Central Europe. Builds premium urban apartments with similar buyer targeting to Modex and operates in comparable regional Slovak/Czech city markets.
• ITB Development: Slovak residential and commercial developer active in regional markets. Comparable in scale and product mix to Modex's single-project structure and serves overlapping buyer segments.

Broad incumbents

• Skanska Slovakia: Swedish-listed global construction and development major with Slovak residential operations. While substantially larger and broader in scope, it competes for the same urban premium residential buyers in Slovak cities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MODEX