Heimstaden, Oaks Prague & the return of employee testing


Robert McLean

#cee, #proptech, #development a #architecture

It’s been encouraging to watch the number of new infections of Covid-19 drop each day as 2021 fades into history. Exactly two weeks ago on Wednesday, there were 11,600 cases detected, while four weeks ago there were over 21,000. Yesterday, there were just 6,150. But what’s also clear to the new government is that the Omikron is gathering strength. Health officials predict that by the middle of January, cases of the new variant will make up 25% of all cases and that we face yet another wave. To combat this, the government recommends pulling out all the stops by mandating twice-per week antigen tests for all employees. Including the vaccinated. It appears increasingly likely that while it’s more contagious, the new variant is less lethal. However, health officials worry that increased numbers of patients could still end up overwhelming hospitals.

The Oaks Prague project to the south of Prague has finally reached an important milestone: occupancy permits for the project’s first batch of family homes designed by McGarry-Moon Architects. This portion of the project is located near the growing square where a Deli Bistro is due to open soon along with other services. The houses offer between 300 sqm and 413 sqm on plots of up to 700 sqm. Jan Zemanek, CEO of the developer Arendon, said the project’s new residents can begin moving in at the beginning of 2022 and that other portions of the projects designed by JTP Architects and Chapman Taylor Architects are scheduled to complete in the coming months. The project is located in Nebřenicích, roughly 4 km from Modletice just to the southeast of Prague.

Heimstaden Bostad made real estate investments worth around Europe roughly CZK 353 billion during 2021, making it the second largest private European owner of residential property. Its portfolio currently stands at CZK 710 billion. Its year came to a close with the acquisition of 30,000 flats from the company Akelius at a cost of CZK 227 billion. The deal was completed through a joint venture with Allianz Real Estate. “The investment potential of the company is proof of its financial strength and stability,” said the head of Heimstaden’s Czech branch Jan Rafaj. The company raised CZK 98 billion in equity from new investors during 2021. In Prague, the company made a deal to acquire rental flats from Finep, though under current conditions it’s unclear if such projects can be completed.

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