3Things: Pražák buys Oaks Prague, CTP’s new Brno office project, and fresh blow for aluminum supply

Robert McLean

#cee, #proptech, #development a #architecture

CTP has launched construction a high-spec, 25,000 sqm office building, which will form the final stage in the developer’s project Brno Ponávka. The CZK 1.5 billion building is the final link in the transformation of the former 19th century site into a 21st century multifunctional destination. Studio acht is the designer of the 13th floor building, which is scheduled to complete by 2024. CTP is building the third part of a cycle path that connects its Ponávka and Vlněna projects in Brno. Its green credentials include rainwater and graywater management along with atuohomosly operated lighting systems that respond to both sunlight and movement. Lower floors will offer retail space, restaurants and showrooms.

In the end, the Oaks Prague residential project outside Prague ended up in the hands of the Czech business mogul Karel Pražák. Back in June, the original owners (two Russians who own the Evraz steel concern) sold the project to the Czech company Eurocapital SE, which is owned by an influential Czech lawyer. He has since sold a majority share in the project to Pražák, who purchased it through his investment company Kaprain. Pražák is the investor behind the Pařížská 25 project and the owner of the Sparta Praha hockey club. Hospodářské noviny estimates the original Russian investors recouped just half of their CZK 4 billion investment in the sale. Once completed, the project is supposed have 480 flats, row homes and villas along with an 18-hole golf course.

Computer chips aren’t in such short supply these days, but that doesn’t mean supply chains are all back to normal. It’s estimated that European aluminum producers have reduced output by as much as 900,000 tons since the beginning of the year because of high energy prices. News that the Slovak producer Slovalco will halt production in September means another 175,000 tons can be added to the growing deficit. “The production stoppage affects 300 employees of the factory and thousands of external workers,” said Slovalco’s director Milan Veselý. “The stoppage of production means Europe will be forced to buy aluminum from countries like China or Russia,” he says.

 

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