Generated by All in One SEO v4.9.7.2, this is an llms.txt file, used by LLMs to index the site.

# ThePrime.cz

Czech and Slovak real estate market news

## Sitemaps

- [XML Sitemap](https://theprime.cz/sitemap.xml): Contains all public & indexable URLs for this website.

## Posts

- [EU customs crackdown turns Chinese parcel flood into warehouse demand](https://theprime.cz/news/eu-customs-crackdown-turns-chinese-parcel-flood-into-warehouse-demand/) - DHL CEO Ludek Drnec called the 1 July launch of the EU's EUR 3 per-item customs duty "D-Day" for Chinese marketplaces. Czechia illustrates why: the country processed 106 million low-value shipments in the first half of 2026 alone, already surpassing the full-year 2025 total of 105 million, up from just 2.3 million in 2023. That
- [Penta launches 340-flat phase at Bratislava's Bory quarter](https://theprime.cz/news/leases/penta-launches-340-flat-phase-at-bratislavas-bory-quarter/) - Penta Real Estate kicked off sales for the next phase of Bory Bývanie in northwest Bratislava, adding roughly 340 apartments across six buildings
- [CTP hands over 11,500 sqm to Saint-Gobain Sekurity Servit](https://theprime.cz/news/leases/ctp-hands-over-11500-sqm-to-saint-gobain-sekurity-servit/) - CTP handed over 11,500 sqm of new distribution space at CTPark Česká Lípa to Saint-Gobain Sekurit Service, the company's aftermarket division
- [Pavel Velebil (Tide Reality) describes the 4 types of investment flat buyers](https://theprime.cz/news/pavel-velebil-tide-reality-describes-the-4-types-of-investment-flat-buyers/) - The number of Czechs who can flats is getting progressively smaller. But there's end to the number of Czechs buying flats as an investment. Who are they?
- [Zdeněk Raus named equity partner at Demaco](https://theprime.cz/sectors/industrial-logistics/zdenek-raus-named-equity-partner-at-demaco/) - With Demaco’s group assets now approaching CZK 2 billion, the Czech industrial developer has elevated CFO Zdeněk Raus into its ownership structure.
- [Miroslav Barnas (ARETE): C. European logistics still the best yield opportunity](https://theprime.cz/news/companies/miroslav-barnas-arete-c-european-logistics-still-the-best-yield-opportunity/) - Miroslav Barnas (ARETE) sees a greater variety of investors in Poland with a greater variety in sources of capital than in the Czech Republic.
- [Penta and DBK Praha announce Budějovická design competition](https://theprime.cz/news/project-news/penta-and-dbk-praha-announce-budejovicka-design-competition/) - Penta Real Estate and DBK Praha have put the fate of one of Prague's most awkward sites open to an international design contest for Nová Budějárna
- [Martin Baláž (Prologis): We can develop 180,000 sqm around Prague](https://theprime.cz/news/leases/martin-balazs-prologis-we-can-develop-180000-sqm-around-prague/) - No longer interested in regional cities, Prologis now concentrates its Czech activites on Prague and its surrounding, having built a land bank of 180,000 sqm
- [Prague new-flat prices climb 2.1% as supply slides toward exhaustion](https://theprime.cz/news/prague-new-flat-prices-climb-2-1-as-supply-slides-toward-exhaustion/) - Prague new-flat asking prices climbed 2.1% quarter-on-quarter to CZK 180,300/sqm in Q1 2026, according to the Deloitte Develop Index
- [Penta moves BASE flex offices to Chalupkova, hands Tepláreň coworking to Alto](https://theprime.cz/news/leases/penta-moves-base-flex-offices-to-chalupkova-hands-teplaren-coworking-to-alto/) - Penta Real Estate is relocating its BASE flexible office brand to Chalupkova Offices, its flagship tower in downtown Bratislava.
- [New podcast episode! With Demaco's new CFO Zdeněk Raus](https://theprime.cz/sectors/industrial-logistics/new-podcast-episode-with-demacos-new-cfo-zdenek-raus/) - Zdeněk Raus swapped the world of large corporate developers for a partner-led firm where the entire business is run by three people.
- [iO Partners wins Twin City Tower mandate](https://theprime.cz/news/leases/io-partners-wins-twin-city-tower-mandate/) - Valesco Group has awarded iO Partners Slovakia the exclusive office leasing mandate and landlord representation for Twin City Tower
- [CPI profits fall 5.9% in Q1](https://theprime.cz/news/companies/cpi-profits-fall-5-9-in-q1/) - CPI Property Group's Q1 results were mixed, as consolidated gross operating profit (EBITDA) fell 5.9 percent year-on-year to €171 million.
- [New podcast! Pavel Novak (Savills) on the worsening office squeeze](https://theprime.cz/news/leases/new-podcast-pavel-novak-savills-on-the-worsening-office-squeeze/) - Prague's office market is stuck in a squeeze. Rents are hitting €35 per square meter, and just 26,000 sqm of new space is coming online in 2026.
- [Bubble tea empire pops](https://theprime.cz/news/bubble-tea-empire-pops/) - The story around the collapse of a bubble tea empire in the Czech Republic is raising a lot of questions. Not just for retail landlords, but for private investors looking for alternatives to stocks, bonds and real estate. At the heart of the matter is the Twistcafe Group which set up nearly a dozen successful
- [Five fund targeting Czech senior care real estate's critical lack of supply](https://theprime.cz/news/real-estate-investment/five-fund-targeting-czech-senior-care-real-estates-critical-lack-of-supply/) - At least five dedicated fund vehicles are now actively acquiring or developing senior care real estate in the Czech Republic. It’s turning what was a niche institutional play three years ago into a fast-forming asset classes. The shift is confirmed by Savills' 2026 European OpRE Investor Sentiment Survey: 42% of respondents now target care homes,
- [Charnwood's Malešice Business Park targets July opening](https://theprime.cz/news/leases/charnwoods-malesice-business-park-targets-july-opening/) - The Charnwood Company acquired the Malešice Business Park site from Manufaktura in a deal from early 2025 that took just weeks to close
- [Penta launches new office project on Hybernska](https://theprime.cz/news/project-news/penta-launches-new-office-project-on-hybernska/) - Penta Real Estate has received the building permit for Hybe, the conversion of a former Czech Post building on Hybernská 15 into a 6,300 sqm office and retail asset. The developer estimates total investment at CZK 1.1 billion. With demolition of the dated rear wing due to begin in April, new-build construction should get underway
- [Petr Koljadenko joins Goldbeck](https://theprime.cz/news/appointments/petr-koljadenko-joins-goldbeck/) - Petr Koljadenko has joined Goldbeck as Strategic Business Lead for the Czech Republic, Slovakia and Hungary. He comes from Takenaka Europe.
- [What does America's office crisis mean for CEE?](https://theprime.cz/news/leases/what-does-americas-office-crisis-mean-for-cee/) - The Wall Street Journal this month catalogued a wave of US office buildings selling at 90% or more below peak value. This includes a Chicago tower going for $4 million (down from $68 million) and Denver's Energy Center for $5.3 million (down from $176 million). MSCI counted 204 distressed office sales last year, up from
- [Savills Acquires Eastdil Secured for $1.1 bn](https://theprime.cz/news/companies/savills-acquires-eastdil-secured-for-1-1-bn/) - Savills is paying USD 1.1 billion for Eastdil Secured — the largest acquisition in the firm's history by some distance. It will pay for the deal using debt as well as the issuance of new shares. Company officials cite MSCI data in claiming that the combined group becomes the world's #2 advisory firm for prime
- [Four residential permits in one week: Horizon Holding, CPI, Geosan, Central Group](https://theprime.cz/sectors/residential/four-residential-permits-in-one-week-horizon-holding-cpi-geosan-central-group/) - The bureaucratic gears in Prague turn slowly, but at least they're moving. Between March 16 and 19, four significant residential permits cleared for Horizon Holding, CPI, Geosan, and Central Group. Still, even as the approvals stack up, the actual "groundbreaking" remains a moving target for some of them. In Čimice (Prague 8), Horizon has secured
- [Babiš blames LPP for arson attack at its Pardubice factory](https://theprime.cz/news/companies/babis-blames-lpp-for-arson-attack-at-its-pardubice-factory/) - After Friday's arson at drone manufacturer LPP's Pardubice production hall, Prime Minister Babiš told Czech defense companies to secure their own premises better. LPP, he said, hadn't done enough. LPP's own account complicates the blame. The hall was fully electronically secured, spokeswoman Martina Tauberová told HN, and all recordings were handed to investigators. It was
- [Filip Slabotinský (DMC Design & Engineering): We take a systematic approach to design](https://theprime.cz/news/companies/filip-slabotinsky-dmc-design-engineering-we-take-a-systematic-approach-to-design/) - What was the thinking behind spinning out DMC Design & Engineering last year as a separate entity rather than keeping design in-house at Demaco? Filip Slabotinský: Design and engineering originally developed within the Demaco group as a support function, not only for development projects but also for assignments related to energy, infrastructure, investment preparation and
- [ZDR Investments: From Zero to CZK 20 Billion in Eight Years — And Still Shopping Conservatively](https://theprime.cz/news/zdr-investments-from-zero-to-czk-20-billion-in-eight-years-and-still-shopping-conservatively/) - When ZDR Investments launched its fund in 2017, Czech retail park investing was still finding its footing as an institutional asset class. Eight years later, the group's partners Radek Hladký and Roman Latuske are overseeing a portfolio of over CZK 20 billion across a portfolio of 78 properties — and they insist the playbook hasn't
- [New Šeberov retail park wins zoning decision after a decade of struggle](https://theprime.cz/sectors/retail/new-seberov-retail-park-wins-zoning-decision-after-a-decade-of-struggle/) - ŠEBEROV Real Estate a.s. received a zoning decision for a retail and office complex on Prague's southern fringe at the end of February. The developer first presented a version of this scheme to the public in 2015, then under the name "Obchodní a skladové centrum Na Jelenách." That makes it 11 years of work to
- [Stats office says 2025 economic growth stronger than expected](https://theprime.cz/news/stats-office-says-2025-economic-growth-stronger-than-expected/) - The Czech Statistical Office revised its full-year 2025 GDP estimate up a tenth of a point to 2.6% — the strongest expansion since 2022. That's thanks in part to a strong Q4, which saw growth of 2.6% (y-o-y) and 0.6% higher than Q3. Household consumption led the charge at +3.0%, with gross fixed capital formation
- [Premium product dominates Prague's flex space sector](https://theprime.cz/news/companies/premium-product-dominates-pragues-flex-space-sector/) - It never really grows massively year-to-year, but Prague's flexible workspace stock has quietly reached 130,500 sqm. That’s a 60% increase over 5 years as of the end of 2025, a volume that’s spread across 77 locations and 33 operators. Savills' latest sector overview reveals a structurally concentrated market: Scott.Weber Workspace (37% share), IWG (22%), and
- [Bratislava Opens 65-Hectare Port Competition](https://theprime.cz/news/project-news/bratislava-opens-65-hectare-port-competition/) - Bratislava's state-owned port authority launched an international architecture competition for Zimný prístav (Winter Port), a 65-hectare brownfield site that's currently a barely-active cargo terminal. Submissions close May 2026, with an 11-member jury, including Peter Gero, co-creator of Hamburg's HafenCity waterfront transformation. State-0wned Verejné prístavy is consolidating active port operations to the Pálenisko zone downstream, freeing
- [New D5 access road to Metropol mall in Zličín reveals expansion plans](https://theprime.cz/news/project-news/new-d5-access-road-to-metropol-mall-in-zlicin-reveals-expansion-plans/) - Workers are now building a 57-meter pre-stressed concrete bridge over Prague's metro test track at Zličín, part of a privately-financed highway connection that will link the Metropole shopping center directly to the D5 motorway. Construction began autumn 2025, with Strabag building infrastructure designed by Pragoprojekt — six toll gates, drainage systems, and a supporting wall
- [Construction output jumps despite deep residential disconnect](https://theprime.cz/sectors/residential/construction-output-jumps-despite-deep-residential-disconnect/) - The Czech real estate market enters 2026 defined by a tricky contradiction: banks are pumping record liquidity into the system at the same time that the pipeline for new projects has dried up to generational lows. According to fresh data from the Czech Statistical Office, construction output technically rebounded in 2025, rising 9.3% year-on-year to
- [User-First Development: Demaco’s DMC Paskov and the Power of Long-Term Industrial Vision](https://theprime.cz/news/companies/user-first-development-demacos-dmc-paskov-and-the-power-of-long-term-industrial-vision/) - Industrial developer Demaco has completed the construction of the DMC 2 building within DMC Paskov industrial park on a former coal mine site
- [Manova sells Amazon Returns Center in Sereď](https://theprime.cz/news/real-estate-investment/manova-sells-amazon-returns-center-in-sered/) - Manova Partners has exited its eight-year hold on an Amazon Returns Center in Sereď, Slovakia, selling the 62,245-sqm logistics facility to ERSTE Realitná Renta. That’s a fund managed by Erste Asset Management's Slovak branch. The property, located roughly 40 minutes northeast of Bratislava, represents Manova's first Slovak investment, acquired in 2017. At that time, the
- [Spire Capital Partners agrees strategic capital for BONARD](https://theprime.cz/news/companies/spire-capital-partners-agrees-strategic-capital-for-bonard/) - BONARD has secured minority funding from Polish private equity firm Spire Capital Partners to enable its geographic and sectoral expansion.
- [Prague Matches London for Retail Openings; US Brands Surge](https://theprime.cz/sectors/retail/prague-matches-london-for-retail-openings-us-brands-surge/) - Prague matched London in attracting 38 new international retail brands during 2024—the strongest performance among Central and Eastern European cities. More importantly, Czech retail sales are on track to hit 4.1% growth for 2025, leaving Germany (2.7%), France (2.3%), and the UK (0.8%) trailing in the dust. New data from Savills Research’s European Retail Market
- [Dr. Max extends lease at Prologis Park Prague-Rudná](https://theprime.cz/news/leases/dr-max-extends-lease-at-prologis-park-prague-rudna/) - Prologis extended its lease with Dr. Max for 6,300 sqm of logistics space at Prologis Park Prague-Rudná west of the capital. The facility serves as Dr. Max's specialized e-commerce fulfillment center. Online pharmaceutical market has become one of Czech retail's fastest-growing segments. According to IQVIA, the combined market for OTC medicines, supplements, and consumer health
- [Butovice Offices bought by Investika](https://theprime.cz/news/real-estate-investment/butovice-offices-bought-by-investika/) - INVESTIKA realitní fond has returned to its home market with the acquisition of Butovice Offices, a 9,100-square-meter building on Prague 5 that houses the Czech headquarters of Ahold's Albert chain. The fund purchased the property from BDCG's Safety Real fund for an undisclosed sum, marking its first Czech acquisition after months of cross-border dealmaking. The
- [Generali buys GARBE Progresus Park Klášterec I](https://theprime.cz/news/real-estate-investment/generali-buys-progresus-park-klasterec-i/) - Generali Real Estate has made its first move into Czech logistics, acquiring the 18,500-sqm GARBE Progresus Park Klášterec I, a facility located in the Ústí nad Labem region. The deal, completed through the Generali Fond Realit investment fund, marks another data point in what continues to be selective but steady institutional appetite for quality industrial
- [SPM Invest acquires Campus Science Park in Brno](https://theprime.cz/news/real-estate-investment/spm-invest-acquires-campus-science-park-in-brno/) - The Czech investment group SPM has acquired Campus Science Park, a modern business complex in Brno. The vendor was Corebridge Real Estate Investors, the original developer of the park, who built it in partnership with White Star Real Estate. The asset offers a LEED Gold certification along with roughly 50,000 sqm GLA. It’s an impressive
- [CTP begins construction on ABB's newest facility](https://theprime.cz/sectors/industrial-logistics/ctp-begins-construction-on-abbs-newest-facility/) - CTP is constructing a 38,000-sqm building at CTPark Brno South whose key tenant, ABB, will occupy over 17,000 sqm. The space features high quality offices
- [UBM Doubles Down on Residential as Labor Shortage Reshapes Prague Development](https://theprime.cz/news/leases/ubm-doubles-down-on-residential-as-labor-shortage-reshapes-prague-development/) - Josef Wiedermann says the Austrian developer is betting on timber construction to navigate rising costs, while actively hunting for new acquisitions in Prague
- [David Mazáček (Upvest): We're not trying to replace banks](https://theprime.cz/sectors/retail/david-mazacek-upvest-were-not-trying-to-replace-banks/) - Together with the financial group RSJ, Upvest has established the CCM SICAV II fund to increase its stake in Centrum Černý Most, recently rebranded as Westfield Černý Most, using a structure not often seen here on such a scale. The consortium of Upvest and RSJ already holds a 25% stake in the shopping center through
- [GARTAL ramps up output, beginning with City Lofts](https://theprime.cz/sectors/residential/gartal-ramps-up-output-beginning-with-city-lofts/) - GARTAL's ambitions have escalated sharply since 2023 when Martin Svoboda (formerly with JRD) assumed leadership of the development division.
- [Signal Space raises the entertainment bar in central Prague](https://theprime.cz/news/signal-space-raises-the-entertainment-bar-in-central-prague/) - Signal Space—the Czech Republic's first permanent digital art gallery—opens on Wednesday Oct. 1 after 22 months of construction. The project transformed an open-plan retail space into eight projection rooms in the heritage-listed 19th-century structure. Savills managed the conversion of the former supermarket, which had been vacant for years. The building’s listed status naturally created significant
- [Marketa Vrbasová (Knight Frank): Auto Suppliers Face Indirect Hit from Trade Wars](https://theprime.cz/sectors/industrial-logistics/marketa-vrbasova-knight-frank-auto-suppliers-face-indirect-hit-from-trade-wars/) - What's the impact of tariffs and the transformation of Europe's automobile industry been on the Czech industrial market? There are significant opportunities arising from the automotive industry’s transition toward electromobility, as evidenced by several major recent investments and leases. For example, the German company Vitesco is investing €188 million in a new plant at CTPark
- [Pavel Sovička (Panattoni): Productivity is the problem. Not developers](https://theprime.cz/sectors/industrial-logistics/pavel-sovicka-panattoni-productivity-is-the-problem-not-developers/) - Land use policy is one of the key strategic tools a country has to transform national economic policy into reality, says Pavel Sovička of Panattoni
- [David Sajner joins Savills](https://theprime.cz/news/appointments/david-sajner-joins-savills/) - Savills' investment team in Prague continues to grow with this week's appointment of David Sajner. He specializes in transactions and acquisitions.
- [Study finds huge investment still needed in energy efficiency](https://theprime.cz/news/savills-huge-investment-still-needed-in-energy-efficiency/) - According to an internal Savills survey, just 14% of properties hold Energy Performance Certificates (EPCs) in top A or B classes.
- [Crestyl achieves planning breakthrough on Savarin](https://theprime.cz/urban-planning/crestyl-achieves-planning-breakthrough-on-savarin/) - Crestyl has at last secured the planning permit for Savarin, its landmark project on lower Wenceslas Square that it's working on with Thomas Heatherwick
- [Michal Sotak (Cushman & Wakefield): Emotions drive investment](https://theprime.cz/news/real-estate-investment/michal-sotak-cushman-wakefield-emotions-drive-investment/) - The bifurcation of the investment market has become so profound that in Q2, 90% of all real estate transactions were completed by local capital.
- [Michal Bilý (108 Real Estate): Q2 new industrial leases strengthen](https://theprime.cz/sectors/industrial-logistics/michal-bily-108-real-estate-q2-new-industrial-leases-strengthen/) - The Czech industrial real estate sector delivered a robust Q2 performance, with 189,700 sqm of new leases signed. But the strength of the rebound is unclear
- [Jiří Šizling (Infigy): Household solar reduced impact of July's power outage](https://theprime.cz/smart-development/proptech/jiri-sizling-infigy-household-solar-reduced-impact-of-julys-power-outage/) - How did home photovoltaic power plants with batteries perform during the July outage? Home photovoltaic power plants performed very well during the July blackout. There was sunny weather that day, so most systems with battery storage had enough energy for basic household operation. However, it's important to remember that the goal of these systems is
- [Robert Ides (ARETE): We'll recycle our equity abroad](https://theprime.cz/news/companies/robert-ides-arete-well-recycle-our-equity-abroad/) - There's a difference between liquidity and market dynamics. There's plenty getting sold in Czechia but there's not a culture of active asset management
- [Martin Klán (Amadeus): Nový Máj's butterflies should stay](https://theprime.cz/sectors/retail/martin-klan-amadeus-the-butterflies-should-stay/) - Martin Klan of Amadeus Real Estate says Novy Máj is performing as they hoped and that the company wants the butterflies to be a permanent feature
- [Karin Shalev Shogol (AFI CZ): We want 5,000 flats in 5 years](https://theprime.cz/sectors/residential/karin-shalev-shogol-afi-cz-we-want-5000-flats-in-5-years/) - Karin Shalev Shogol, who took over as AFI Czech Republic's new CEO earlier this year, wants the company to manage 5,000 flats within five years
- [Savills: H1 investments soar to €2.1 billion in Czechia](https://theprime.cz/news/real-estate-investment/savills-h1-investments-soar-to-e2-1-billion-in-czechia/) - Czech commercial real estate transactions jumped to €2.1 billion in the first six months of 2025, nearly 1.5x last year’s result.
- [Fred Hlobil (FH+ Real Estate): New money is coming into young sectors](https://theprime.cz/news/leases/fred-hlobil-fh-real-estate-new-money-is-coming-into-young-sectors/) - The production sector, especially automotive, is down. Classic standard car engine fewer than 2000 parts, but electric car engines have less then 100.
- [CPI offers to buy back 7% bonds at 7.75%](https://theprime.cz/news/companies/cpi-offers-to-buy-back-7-bonds-at-7-75/) - CPI Property Group announced a tender offer to repurchase up to €100 million of its outstanding €600 million green bonds that don’t come due until May 2029.
- [CPI's 2024 disposals help LTV slip below 50%](https://theprime.cz/news/companies/cpi-disposals-see-ltv-slips-below-50/) - CPI Property Group ended 2024 with €20.6 billion in total assets (€18.2 billion in property), while reducing LTV below 50% for the first time since 2022
- [Reality check for landlords: Prague Q2 resi rents fall](https://theprime.cz/news/leases/reality-check-for-landlords-as-prague-rents-fell-in-q2/) - Tenants have become far more price-sensitive. As a result, they're focusing on more affordable flats, or at least offers where quality matches the price.
- [New Podcast with Mark Robinson (EnCor Wealth Mgmt)](https://theprime.cz/multimedia/video/new-podcast-with-mark-robinson-encor-wealth-mgmt/) - When trade war tensions between the EU and the US jumped last week, I knew it was time to publish a podcast episode I'd done with Mark Robinson (EnCor Wealth Management). His clear-eyed views on the big picture have obvious implications on the niche market of CE commercial real estate. The issue isn't whether this
- [Weak demand & resi boom stunt office development](https://theprime.cz/news/leases/weak-demand-resi-boom-stunt-office-development/) - Prague office vacancy is inching downwards while physical “occupancy” is up. At the same time, supply is dwindling as net rent figures rise.
- [Huge changes coming to Prague's high street](https://theprime.cz/sectors/retail/huge-changes-coming-to-pragues-high-street/) - A series of investments currently underway are transforming Prague’s downtown. By 2028, the cumulative effect of the investments will be remarkable.
- [Gen Z's Return to Office Comes at a Price](https://theprime.cz/news/leases/gen-zs-return-to-office-comes-at-a-price/) - Nearly 90% of companies plan to increase daily office attendance requirements this year, according to new research from Savills global network. Generation Z employees are leading this shift, spending 12% more time in offices than older colleagues. But they also prioritize workplace wellness initiatives more highly. Prague mirrors this global pattern with average physical occupancy now exceeding
- [Savills strengthens Prague valuations team](https://theprime.cz/news/appointments/savills-strengthens-prague-valuations-team/) - Savills has strengthened its Czech valuation division with three key personnel changes. Daniel Duchek joins as Senior Valuer, having worked for the past decade in banking and financing. At Fio Bank, he was an internal valuer, specializing in the assessment of collateral properties for the Czech and Slovak developments. At Moneta Money Bank, he valued
- [Fond Českého Bydlení on track to raise CZK 1bn](https://theprime.cz/news/real-estate-investment/fond-ceskeho-bydleni-on-track-to-raise-czk-1bn/) - Fond Českého Bydlení's co-founder Jakub Korinek says the fund is on track to double its fund raising in 2025 and should hit CZK 1 billion.
- [Pavel Malecha (ČSOB): Rental Resi Fueled our Recent Lending](https://theprime.cz/news/companies/pavel-malecha-csob-rental-resi-fueled-lending/) - CSOB has always tried to diversify our lending between the individual sectors, meaning in logistics, offices, retail, and residential.
- [Conseq buys 40,000 sqm industrial asset in Olomouc](https://theprime.cz/news/conseq-buys-40000-sqm-industrial-asset-in-olomouc/) - Savills has represented the vendor in the sale of a 40,000 sqm industrial property in Olomouc to Conseq Funds investiční společnost
- [Petr Florian (Avison Young): Want to save on rent? Pay your agent!](https://theprime.cz/news/petr-florian-avison-young-want-to-save-on-rent-pay-your-agent/) - Petr Florian (Avison Young) says office tenants aren't getting full value from their real estate agents if they're collecting fees from building owners.
- [ThePrime Pod: Karel Stransky on the regionalization of supply chains](https://theprime.cz/sectors/industrial-logistics/theprime-pod-karel-stransky-on-the-regionalization-of-supply-chains/) - The era of frictionless global manufacturing is over. That's the stark assessment from Karel Stransky, one of Central and Eastern Europe's most experienced industrial real estate practitioners. "What is certainly ending is borderless and tariffs-less global environment," Stransky explains. The shift isn't simply about factories moving from China back to Europe—it's far more nuanced. "Rather
- [Demand Returns to Czech Sheds, But What’s Really Vacant?](https://theprime.cz/news/leases/demand-returns-to-czech-sheds-but-whats-really-vacant/) - Czech industrial real estate is showing early signs of demand recovery, but recovery story is complicated by disagreements over murky vacancy figures.
- [Prague Office Districts Transform As Tech Drives Demand](https://theprime.cz/news/prague-office-districts-transform-as-tech-drives-demand/) - Prague 1, Prague 8 and Prague 4 (Pankrác & Budějovická ) have been the city’s most dynamic office districts since 2022 according to a new report by Savills.
- [Skanska's Habitat projects gets underway](https://theprime.cz/sectors/residential/skanskas-habitat-projects-gets-underway/) - Skanska has begun construction on, Habitat a new brownfield residential district in Prague 10 - Malešice placed on 70,000 sqm of land.
- [Šmigura (Wood & Co.): Our office valuations held up](https://theprime.cz/news/companies/smigura-wood-co-our-office-valuations-held-up/) - Wood & Co. has been focusing on the markets where it's currently active, completing the divestment of two office buildings at the end of last year
- [Stupavsky: Tariff relief doesn't remove the chaos](https://theprime.cz/sectors/industrial-logistics/stupavsky-tariff-relief-doesnt-remove-the-chaos/) - Business confidence has been dented, despite tariff relieve. Not just in the US but also in the European economy. The trade war will hurt GDP no matter what.
- [ThePrime Pod: Michal Stupavsky (Conseq)](https://theprime.cz/news/theprime-pod-michal-stupavsky-conseq/) - Investment strategist Michal Stupavsky tells Robert McLean that alternative investments are the key to a healthy portfolio.
- [Savills: Prague & Brno face industrial space shortage](https://theprime.cz/news/leases/savills-prague-brno-face-industrial-space-shortage/) - The vacancy rate in Prague has been stuck below 3% since mid-2020 with units in southern outskirts along D1 highway leasing before previous tenants move out.
- [Savills: Q1 hotels deals triple all of 2024](https://theprime.cz/sectors/hotels/savills-q1-hotels-deals-triple-all-of-2024/) - The Czech hotel sector recorded €340 million in transaction volume during Q1 2025, representing 23% of total commercial real estate investment for the quarter.
- [Will Prague kill off David Černy's Butterflies?](https://theprime.cz/sectors/retail/will-prague-kill-off-david-cernys-butterflies/) - David Cerny's Spitfire Butterflies could be taken down if the city decides not to extend the permit that's allowed them to be installed on the Maj buildi
- [Branislav Jendek (108 REAL ESTATE): Investors have to look abroad for labor](https://theprime.cz/sectors/industrial-logistics/branislav-jendek-108-real-estate-investors-have-to-look-abroad-for-labor/) - it's becoming more of a tenant’s market, says Branislav Jendek (108 Real Estate). There is a lot of uncertainty, so it will take time to see what will happen.
- [Pavel Dobeš (Prague 3): The city's role in planning is key](https://theprime.cz/news/prague-3-deputy-mayor-pavel-dobes/) - The following is a translated excerpt from the Facebook page of Pavel Dobeš, deputy mayor of Prague 3. He's been heavily involved in getting the necessary planning changes made that would allow for the redevelopment of the defunct cargo station in his district. These changes have been underway for nearly two decades. What I find
- [Alzabox innovation to take on Zasilkovna](https://theprime.cz/news/alzabox-innovation-to-take-on-zasilkovna/) - Alzaboxes continue to evolve as trust in the service grows. Not only will Czech soon be able to send items to each other, but drivers licenses will be delivered
- [MIPIM 2025 Round-Up: Geopolitical Risk Re-emerges for CEE](https://theprime.cz/news/mipm-round-up-geopolitical-risk-re-emerges-for-cee/) - Geopolitics hung over the CEE investment panel at MIPIM this year. This pivot back to geopolitical concerns doesn’t help attract international capital.
- [PDS targets construction of 8,000 affordable flats](https://theprime.cz/news/pds-targets-construction-of-8000-affordable-flats/) - Prague Development Company is currently managing over 60 projects with plans to deliver 6,000-8,000 rental apartments in the coming years
- [Germany re-opens nuclear question](https://theprime.cz/news/germany-re-opens-nuclear-question/) - The nuclear debate in Germany took a surprising turn when the CDU/CSU coalition unveiled a plan to resurrect six decommissioned nuclear power plants.
- [$108bn! Global data center investments tripled in 2024](https://theprime.cz/news/108bn-global-data-center-investments-tripled-in-2024/) - Data center investment reached unprecedented levels in 2024, with private investment hitting $108.1 billion globally — more than triple 2023's result.
- [A Conversation with urban planner David Sim](https://theprime.cz/urban-planning/a-conversation-with-urban-planner-david-sim/) - David Sim: A soft city is fundamentally about creating urban environments that work at a human scale if they foster connection rather than isolation
- [Richard Wilkinson (CTP): Sometimes you have to look beyond the noise](https://theprime.cz/news/richard-wilkinson-ctp-sometimes-you-have-to-look-beyond-the-noise/) - Despite geopolitical turmoil and market uncertainty, CTP's leadership remains bullish on European logistics real estate, raising €1 billion in funding
- [GRESB Assessment: Sustainability Meets Strategic Management](https://theprime.cz/news/gresb-assessment-sustainability-meets-strategic-management/) - By agreeing to participate in the GRESB , companies create an opportunity for management to ask potentially awkward but revealing questions about their company
- [Robert Špálek (ČKAIT): Towns should donate land for cheaper resi](https://theprime.cz/urban-planning/robert-spalek-ckait-towns-should-donate-land-for-cheaper-resi/) - Robert Špalek argues that the key to affordable housing lies not primarily in funding but in creating a proper legislative framework.
- [iO Partners forms alliance with Miebach across CEE](https://theprime.cz/news/companies/io-partners-forms-alliance-with-miebach-across-cee/) - iO Partners and Miebach Consulting have formed a partnership covering seven Central and Eastern European countries, aiming to combine real estate expertise with supply chain engineering capabilities. The alliance, operating within the framework of a JLL preferred partnership agreement, will cover Austria, Czechia, Croatia, Hungary, Romania, Serbia, and Slovakia. The point of the JV is
- [The Julius Fund offers investors development returns](https://theprime.cz/news/companies/the-julius-fund-offers-investors-development-returns/) - The Julius Fund is offering investors exposure not just to the operating profits, but also to the development returns. This makes it potentially more attractive
- [New residential stats show no relief in sight](https://theprime.cz/sectors/residential/new-residential-stats-show-no-relief-in-sight/) - New apartment prices in Prague's residential development projects grew faster than expected in 2024, increasing by 7% year-over-year
- [Gala raises CZK 3.22m for ThePrime Foster Fund](https://theprime.cz/events/gala-raises-czk-3-22-million-for-theprime-foster-fund/) - In all, CZK 3.22 million was raised for foster care, far exceeding the two previous editions of the Gala
- [EC walks back disastrous fines on auto makers](https://theprime.cz/news/ec-walks-back-disastrous-fines-on-auto-makers/) - The European Commission unveiled a comprehensive strategy Wednesday aimed at salvaging the continent's struggling automotive sector,
- [REICO Long Lease buys DSV facility in Senec](https://theprime.cz/news/leases/reico-long-lease-buys-dsv-facility-in-senec/) - REICO LONG LEASE fund has purchased a newly built logistics facility in Senec, Slovakia for €65 million, marking a fifth addition to its growing portfolio
- [Prague office supply plummets as demand soars](https://theprime.cz/news/prague-office-supply-plummets-as-demand-soars/) - New office development in Prague has plummeted since 2021, with only 72,800 sqm completed in 2024 and a projected drop to just 24,600 sqm in 2025
- [Concens: BMW to Establish Logistics Hub in Ostrava](https://theprime.cz/news/concens-bmw-to-establish-logistics-hub-in-ostrava/) - Concens Investments has begun construction on the third phase of Ostrava Airport Multimodal Park (OAMP) near Leoš Janáček Airport in Mošnov
- [Office space crunch hits regional cities](https://theprime.cz/news/leases/office-space-crunch-hits-regional-cities/) - Premium office space is becoming harder to find across Czech regional cities, driving up rents and creating challenges for growing companies
- [Investika buys 21,000 sqm of office in Szczecin](https://theprime.cz/news/real-estate-investment/investika-buys-21000-sqm-of-office-in-szczecin/) - Investika Real Estate Fund has acquired the Piastów Office Center in Szczecin, in what’s being labelled Poland's first office building transaction of 2025.
- [Retail park expansion about to take off](https://theprime.cz/sectors/retail/retail-park-expansion-about-to-take-off/) - Retail parks have increased their share from just 27% in 2019 to 33% in 2024, while malls now control just 65% of the Czech retail market.
- [PPF RE takes on major Tampa scheme](https://theprime.cz/sectors/offices/ppf-re-takes-on-major-tampa-scheme/) - PPF Real Estate Holding has strengthened its presence in the USA by acquiring a majority stake in the Gasworx development project in Tampa.
- [Investika hits its ESG targets](https://theprime.cz/news/companies/investika-hits-its-esg-targets/) - Investika real estate fund achieved its ESG goals in January with the environmental certification of 10 Czech assets. Seven properties received BREEAM In-Use Excellent certification and three achieved Very Good ratings. BREEAM, one of the world's leading sustainability certification systems, has now been awarded to both these Czech properties and twelve Polish assets in Investika's
- [Arcona Property Fund acquires Kyiv development site](https://theprime.cz/news/project-news/arcona-property-fund-acquires-kyiv-development-site/) - Arcona Property Fund has broken new ground as the first Western real estate fund to acquire property in Ukraine since Russia's 2022 invasion
- [Michal Rehák takes over from Juraj Nevolník at Penta RE SK](https://theprime.cz/news/appointments/michal-rehak-takes-over-from-juraj-nevolnik-at-penta-re-sk/) - Penta Real Estate’s country manager for Slovakia Juraj Nevolník is leaving the company after a stint of 15 years. The decision makes room for Michal Rehák, who currently holds the position of Business Director. Penta co-founder Marek Dospiva described Rehák as an experienced professional and an integral part of the senior management team of our
- [108 Real Estate: Low operating costs making CZ competitive](https://theprime.cz/news/108-real-estate-low-operating-costs-making-cz-competitive/) - Location, price, transport accessibility, and workforce availability outrank energy efficiency when companies choose warehouse spaces in the Czech Republic
- [144 meter tower planned in Brno](https://theprime.cz/news/144-meter-tower-planned-in-brno/) - H Tower should include 144 serviced apartments, 92 residential units, and office space. The 37-floor project is estimated to cost 3.5 billion Czech crowns
- [2025 CEEQA Award Jury announced](https://theprime.cz/events/2025-ceeqa-award-jury-announced/) - The 2025 CEEQA awards jury panel has been announced, comprising rotating industry leaders who will evaluate approximately 600 submissions across 26 categories. Entry submissions are open until March 5 with shortlists announced on April 15. Winners will be revealed at the CEEQA Gala in Warsaw on May 21 in front of an estimated 700 professionals. The
- [Morávek completes deals for Myslbek and Atrium Flora](https://theprime.cz/news/real-estate-investment/moravek-completes-deals-for-myslbek-and-atrium-flora/) - Max Real Estate Fund announced the acquisition of two prime Prague properties worth an estimated CZK 8 billion: Atrium Flora shopping center and Myslbek
- [Cresco helps clients with financing to drive SK sales](https://theprime.cz/sectors/residential/cresco-helps-clients-with-financing-to-drive-sk-sales/) - To help push Bratislava sales, Cresco has invented a sort of hybrid financing structure called "hyponajem" to help clients finance their purchases
- [Popeyes & Five Guys to open in Brno and Prague](https://theprime.cz/news/popeyes-five-guys-to-open-in-brno-and-prague/) - The fast food revolution that got underway two years ago in the Czech Republic may be going slower than advertised, but it’s still on.
- [Ex-Amrest founder bringing Popeyes to Vaclavak](https://theprime.cz/sectors/retail/ex-amrest-founder-bringing-popeyes-to-vaclavak/) - There’s a new fast food game in town – Popeyes. The American phenomenon has been taking bites out of the market share over the dominant trio of McDonald’s, KFC and Burger King in recent decades. But now it’s taking on the Central European market via franchise holder Rex Concepts, which plans to start by opening
- [CEE volume could reach €7.7bn](https://theprime.cz/news/real-estate-investment/cee-investment-volume/) - The total investment volume for key CEE countries (Poland, Czechia, Slovakia and Hungary) is forecast to be €7.7bn and the region is gaining in importance
- [ThePrime Pod: There's no neutral ground on Sustainability](https://theprime.cz/voices/theprime-pod-sustainability/) - Actions speak louder than words. Most of the world has declared itself in favor of going carbon neutral, but the Europe Union is where the action is, thanks to a strict series of regulations that punishes laggards. As deadlines loom closer, however, there's growing awareness of just how hard these rules will hit the real
- [DRFG makes first Polish acquisition](https://theprime.cz/news/real-estate-investment/drfg-makes-first-polish-acquisition/) - DRFG has joined the crowd of Czech real estate funds that's piling into Warsaw with the acquisition of Signum Work Station in a deal brokered by Avison Young.
- [Investika and BUD Holdings buy P180 in Warsaw](https://theprime.cz/news/real-estate-investment/investika-and-bud-holdings-buy-p180-in-warsaw/) - INVESTIKA real estate fund has purchased the P180 office building in Warsaw together with its joint venture partner BUD Holdings SA from Skanska
- [Czech wages rose 4.6% in 2024, after inflation](https://theprime.cz/news/czech-wages-rose-4-6-in-2024-after-inflation/) - Platy.cz claims that Czech employees received significant raises in 2024. Nearly half (46%) of the people surveyed saw their compensation packages rise
- [CPI offers up to €147 million in share buybacks](https://theprime.cz/news/companies/cpi-offers-share-buybacks/) - CPI Property Group (CPIPG) announced a significant share buyback program today, offering to repurchase up to 185 million shares at €0.794 per share
- [Blackstone closes €470m deal for 500k sqm with TPG-Contera](https://theprime.cz/news/real-estate-investment/blackstone-tpg-contera/) - Blackstone has agreed to acquire CT Real Estate, a portfolio of 10 logistics parks, from TPG Real Estate for approximately €470 million
- [City to buy Žižkov Cargo Station for CZK 1.43bn](https://theprime.cz/news/city-to-buy-zizkov-cargo-station-for-czk-1-43bn/) - Prague's city council has voted to acquire the historic Žižkov Freight Station building and adjacent land from Czech Railways (ČD) for approximately CZK 1.43bn
- [European housing recovers amid supply crunch](https://theprime.cz/news/european-housing-recovers-amid-supply-crunch/) - Prices are stabilizing in Europe's residential property while rents continue their upward trajectory across major cities according to Catella's market overview
- [CPI to launch residential fund](https://theprime.cz/news/cpi-residential-fund/) - Radovan Vitek plans to launch a rental housing investment fund in order to raise capital while reducing the CPI Property Group's LTV to more acceptable levels.
- [Doron Klein (AFI Europe): BTR development yields are very, very slim](https://theprime.cz/sectors/residential/doron-klein-afi-europe/) - AFI Europe wants to grow its residential for rent portfolio AFI Home quite significantly for the foreseeable future, says its CEO Doron Klein
- [ČMN completes Churchill acquisition](https://theprime.cz/news/real-estate-investment/cmn-churchill-acquisition/) - Českomoravská nemovitostní (ČMN) has completed its acquisition of Churchill Square office complex above Prague’s main train station
- [Raiffeisen, Sekyra on church's shortlist to manage RE fund](https://theprime.cz/news/finance/raiffeisen-sekyra-on-churchs-shortlist-to-manage-re-fund/) - Two companies remain in the running following a tender held by the Czech Catholic Church to choose an asset manager for its real estate fund NEKAF. Set up in 2014, the fund is one of subfunds of a primary fund of the Catholic church into the state is obligated to pay billions of crowns until
- [Why Czech mortgage rates aren't falling](https://theprime.cz/sectors/residential/why-czech-mortgage-rates-arent-falling/) - The disconnect between the Czech National Bank's policy rates and actual mortgage rates continues to shape the residential market. While the CNB has cut its base rate by three percentage points, but mortgage rates are stuck, dropping just 0.8 percentage points, with most lenders still setting rates around 4.9%. And why should they cut rates
- [Peter Jánoši (P3): Our appetite for growth is permanent](https://theprime.cz/news/peter-janosi-p3/) - The first six months were pretty slow in manufacturing around Europe. Have you felt that? We saw it first in the demand levels. Companies aren’t relocating, they’re postponing their growth plans instead because they feel demand from their customers is slowing down. We’re one part of this chain. In hot markets, companies located in the
- [Amendment could cut eviction times in half](https://theprime.cz/news/cut-eviction-times/) - A proposed amendment to the Civil Procedure Code could soon introduce a new "eviction order" system, a significant move to address problems in the rental market
- [SZ: Amadeus RE selling Máj to own fund](https://theprime.cz/news/real-estate-investment/amadeus-re-maj-fund/) - Months after completing renovations on the building Amadeus Real Estate is preparing to sell the historic building to the affiliated Realita fund
- [Penta opens to investors with two funds](https://theprime.cz/news/real-estate-investment/penta-investment-funds/) - Investment group Penta is expanding its financing strategy by establishing two new investment funds - Penta Equity Fund SICAV and Penta Real Estate Fund SICAV.
- [Tomáš Oplíštil (REALIA): Retail parks are for professional investors](https://theprime.cz/sectors/retail/tomas-oplistil-realia-retail-parks-are-for-professional-investors/) - Since Covid, anyone with any money has been trying to get in on the action when it comes to retail parks. Tomas Oplistil warns it's harder than it looks.
- [Szilárd Simon (PlanRadar): Construction is finally adopting digitization](https://theprime.cz/smart-development/proptech/szilard-simon-planradar/) - Digitization is finally coming to the construction and property sectors after years of denial. It's being driven by the need stakeholders have for transparency
- [PPP's Czech future depends on D4, says Wilhelm (White & Case)](https://theprime.cz/news/companies/ppps-czech-future-depends-on-d4-says-wilhelm-white-case/) - There’s a lot more than just faster travel times at stake on the completion of Příbram to Písek section of the D4 motorway. The whole future of Public-Private Partnership projects could well lie in the balance, says David Wilhelm (White & Case) in an interview with Hospodářské noviny. If PPP projects are finally gaining traction
- [Rohlik's "breakthrough" deal with Amazon in Germany](https://theprime.cz/news/companies/rohliks-breakthrough-deal-with-amazon-in-germany/) - For me, the common ‘rohlik’ (or ‘bread roll’) is one of the basic building blocks of the Czech diet. It’s also the visual symbol on which the founder of rohlik.cz Tomáš Čupr has built a powerful e-commerce giant that he’s used to build an increasingly global e-commerce platform. E15 spoke with Čupr about a new
- [Pavel Novák (Savills): Low office supply isn't going away](https://theprime.cz/news/pavel-novak-savills-low-office-supply-isnt-going-away/) - Savills doesn't view remote work as a long-term trend significantly affecting office demand anymore. Physical occupancy rates have now surpassed 60 percent
- [Jan Mynář (Lexxus Norton): Value creation starts at the beginning](https://theprime.cz/news/jan-mynar-lexxus-norton/) - You come from the world of private equity. What brought you to Lexxus Norton? I was first working at Škoda Pilsen in Mergers & Acquisitions along with some PPP projects. I’d been there for about two years when one of the co-owners sort of pulled me out and we started BHM Group. I was there
- [Value of PDS land hits CZK 8.84 billion](https://theprime.cz/news/value-of-pds-land-hits-czk-8-84-billion/) - Pražská developerská společnost has driven up the value land holdings it controls for the City of Prague from CZK 2.99 billion to CZK 8.84 billion in 2024
- [Petr Urbanek to lead Pražská developerská společnost](https://theprime.cz/urban-planning/petr-urbanek-to-lead-prazska-developerska-spolecnost/) - In early October, Petr Urbánek was named director of the Prague Development Company (PDS), a brand-new, publicly-funded entity
- [What role for developers in solving the affordability question?](https://theprime.cz/sectors/residential/what-role-for-developers-in-solving-the-affordability-question/) - https://youtu.be/mM1HlEVtXas
- [Arcona Capital tackles affordabality in Úvaly](https://theprime.cz/sectors/residential/arcona-capital-tackles-affordabality-in-uvaly/) - Arcona Capital is negotiating with local, Czech and European public institutions to create a new financial structure for the development of 260 affordable homes in Uvaly, just to the east of Prague. It’s a reflection of the severity of the current housing crisis that the government is allocating considerable funds to combat it. But as
- [The planning crisis is really an absence of leadership](https://theprime.cz/urban-planning/the-planning-crisis-is-really-an-absence-of-leadership/) - The problem with the Czech planning system isn't all the stamps developers need.It's absence of leadership from the city who are powerless to carry out plans.
- [Ernst Giese (Giese & Partner) to open AEEC's Prague conference](https://theprime.cz/news/ernst-giese-giese-partner-to-open-aeecs-prague-decarbonisation-conference/) - He'll be giving the opening address and speaking about implementation challenges and opportunities from recent EU Legislation for decarbonising buildings
- [What Bartoš didn't know hurt everyone](https://theprime.cz/news/what-bartos-didnt-know-hurt-everyone/) - Ex-Minister Bartos didn't have to understand everything, but it would have helped if he'd had some basic project management skills
- [Savills: 12 Czech investment transactions close in Q3](https://theprime.cz/news/real-estate-investment/czech-investment-sector-sees-12-deals-close-in-q2/) - Czech investors closed a dozen deals during Q3 2024, according to Savills. That's the same number of deals as were completed in Q2, but the total transaction volume fell to €197 million -- 63% down q-o-q and a 42% drop from Q2 2023. But the lack of any money from foreign buyers has thrown the
- [Fraser Watson (Savills): Lower rates mean funds must invest again](https://theprime.cz/news/real-estate-investment/fraser-watson-savills-lower-rates-mean-funds-must-invest-again/) - Domestic investors had a dominant year in 2023 in terms of percentage, and everyone got very excited about how liquid the Czech market is, says Fraser Watson.
- [Ondřej Chybik on CHYBIK + KRISTOF's targeted expansion plan](https://theprime.cz/architecture/ondrej-chybik-on-chybik-kristofs-targeted-expansion-plan/) - After just two years of implementing it, Ondrej Chybik says his studio began receiving invitations to participate in architecture competitions across Europe
- [Martin Polák (Garbe): You can't just invest in the good times](https://theprime.cz/news/leases/martin-polak-garbe-you-cant-just-invest-in-the-good-times/) - ThePrime spoke with Garbe's MD for Central & Eastern Europe Martin Polak about his strategy of investing even in difficult times, not just when it's easy
- [ČMN's Nemo fund tops 11,000 investors](https://theprime.cz/news/companies/cmns-nemo-fund-boasts-11000-investors/) - The number of investors in the NEMO real estate fund now tops 11,000 reflecting a growth in confidence by Czech investors for collective real estate investment
- [Kupka: Construction law fix could take longer than 18 months](https://theprime.cz/urban-planning/kupka-construction-law-fix-could-take-longer-than-18-months/) - The Czech government has admitted that the defects of its digital construction permit are so severe, that fixing them may not be practical.
- [REALIA buys 2 more retail parks for CZK 180m](https://theprime.cz/news/real-estate-investment/realia-buys-2-more-retail-parks-for-czk-180m/) - Realia Fund Sicav just bought another two retail parks in a move that’s expanded its assets under management to over CZK 2.2 billion, its 17th and 18th parks
- [Expo notes: Investor landscape in transition](https://theprime.cz/news/real-estate-investment/expo-notes-investor-landscape-in-transition/) - Investor landscape in transition was moderated by Jonathan Brasse of PEI Media who was trying to make sense of where the market is at the moment.
- [Catches closes all nine Czech stores](https://theprime.cz/news/companies/catches-closes-all-nine-czech-stores/) - Insolvency proceedings began last week with Retail Group, the company that operated Esprit stores in the Czech Republic as well as Catches stores
- [Miroslav Pudil (Kuehne+Nagel): There are still chances for growth](https://theprime.cz/news/leases/miroslav-pudil-kuehnenagel-there-are-still-chances-for-growth/) - With its newest cross dock warehouse now fully operational, Kuehne+Nagel opened its doors for a look inside. The company moved into ARETE Park Zdice in spring.
- [Čupr closes in on Pilulka as losses mount](https://theprime.cz/news/companies/cupr-closes-in-on-pilulka-as-losses-mount/) - Pilulka's shares have tanked, after it revealed an H1 operating loss of CZK 9.9 million. Revenues fell 32% over the same period to CZK 764 million.
- [Game over for kids at Máj's indoor playground](https://theprime.cz/sectors/retail/game-over-for-kids-at-majs-indoor-playground/) - Amadeus Real Estate has closed the Lvičkov indoor playground at the Maj building in central Prague because of a mix of low demand and high prices.
- [From Gas to Green: Inside DHL’s Warehouse Upgrade with CTP](https://theprime.cz/sectors/industrial-logistics/from-gas-to-green-inside-dhls-warehouse-upgrade-with-ctp/) - CTP and DHL Supply Chain completed the transformation of a warehouse in CTPark Pohořelice into a carbon-neutral facility in a pilot project for the developer .
- [Christian Schantl (Wiener Wohnung) on how Vienna solves the affordability dilemma](https://theprime.cz/news/christian-schantl-wiener-wohnung-on-how-vienna-solves-the-affordability-dilemma/) - I interviewed Christian Schantl of Wiener Wohnen as part of VŠE/MBARE's ongoing podcast series. The episode just dropped on YouTubeand I've already gotten blowback from it. The mission of Schantl's company, which is owned by the City of Vienna, is to provide the broadest possible range of residents with affordable housing. Wiener Wohnen is essentially a
- [Jan Kubíček: The retail sector has to change now](https://theprime.cz/voices/jan-kubicek-the-retail-sector-has-to-change-now/) - ThePrime is media partner for the Czech Council of Shopping Centers conference entitled Driving High Performance. It takes place at the Narodní dům in Prague 2.
- [Tomáš Kadeřábek (Assoc. of Developers): We need to look to the future](https://theprime.cz/news/tomas-kaderabek-assoc-of-developers-we-need-to-look-to-the-future/) - The annual Czech development conference "TOGETHER, WE SHAPE THE FUTURE" is an open space for innovation, inspiration, and idea exchange among experts.
- [Simon Johnson (Crestyl): Dornych will be a retail force in Brno](https://theprime.cz/sectors/retail/simon-johnson-crestyl-dornych/) - You've had a lot of apartments to sell at one of the few tricky times the Prague residential market has ever seen. You must be happy to see better times around the corner. We put a lot of product on the market last year. In a market with very difficult sales and difficult funding we
- [Pepco Tops Czech Discount Market](https://theprime.cz/news/leases/pepco-tops-czech-discount-market/) - Czech discount non-food retail chains surge 13% with Pepco leading the market. New entrants like Action and Tedi expand, while malls adapt to rising demand.
- [Savills: Residential share of investments hits 18%](https://theprime.cz/news/savills-residential-investments/) - Residential transactions comprised 22% of real estate investments in Q2 2024, totaling €158M in H1. Prague's rental housing market is booming.
- [Czech state selling U Hybernů and Národní dům](https://theprime.cz/news/leases/czech-state-selling-u-hybernu-and-narodni-dum/) - The Czech Ministry of Culture will sell two Prague buildings, the National House in Vinohrady and House U Hybernů, to fund the State Culture Fund's activities.
- [Croatia to impose 2nd home tax](https://theprime.cz/news/croatia-to-impose-2nd-home-tax/) - Croatia plans a tax on second homes to curb short-term rentals, boost revenue, and tackle housing shortages, aiming for implementation in 2025.
- [Czechia almost tops Savills' nearshoring index](https://theprime.cz/news/czechia-almost-tops-savills-nearshoring-index/) - The Czech Republic ranked number 2 in the Savills Nearshoring Index, behind Portugal and ahead of Poland. Top priorities are resilience and economic cost.
- [Kaprain buys office project over Českomoravksa metro](https://theprime.cz/news/kaprain-buys-office-project-over-ceskomoravksa-metro/) - Kaprain bought an office project from Crescon over the Ceskomoravksa metro station in Prague. It increases Kaprain's role in developing this important area.
- [Flooded towns are just the latest victims of archaic planning system](https://theprime.cz/urban-planning/archaic-planning-system-to-blame-for-opavas-new-flood-damage/) - One of the reasons the September floods entirely spared Prague was the ability to slow the size and speed of the growing wall by manipulating a sophisticated system of dams and reservoirs along the Vltava river. But such protections do not exist along the Opava river, whose water devastated the towns of Krnov and Opava.
- [Reico waves 'goodbye' to Čtyři Dvory, 'hello' to rental resi](https://theprime.cz/news/real-estate-investment/reico-waves-goodbye-to-ctyri-dvory-hello-to-rental-resi/) - Reico ČS Property Fund has sold the smallest retail building in its portfolio, the Čtyři Dvory shopping center in České Budějovice. The buyer is Conseq Real Estate Fund, one of the original local vehicles which was set up in 2008. It’s one of the Czech funds that’s been snapping up commercial real estate assets not
- [Martin Piškanin (HOPI): We've cut energy consumption 50%](https://theprime.cz/sectors/industrial-logistics/martin-piskanin-hopi-weve-cut-energy-consumption-50/) - Martin Piškanin is chairman of supervisory board of HOPI Holding, a successful Czech logistics provider founded at the beginning of the century. ThePrime spoke with him at an event marking the beginning of construction for its newest warehouse in Panattoni Park Chomutov North. This warehouse isn’t one of them, but HOPI has a lot of
- [HOPI's German expansion begins from Panattoni Park Chomutov North](https://theprime.cz/sectors/industrial-logistics/hopis-german-expansion-begins-from-panattoni-park-chomutov-north/) - Panattoni has begun construction of a 31,000 sqm facility for the Czech logistics company HOPI CZ, whose client is Freudenberg Homes and Cleaning Solutions (FHCS). It chose Panattoni Park Chomutov North in large part because of its proximity to the German market. Panattoni is developing the site for the investor RSJ. For HOPI, the new
- [SZ claims Myslbek winner](https://theprime.cz/news/real-estate-investment/sz-claims-myslbek-winner/) - Seznam Zprávy is reporting that the Redstone group came out on top in the race to acquire the Myslbek building in central Prague. With no confirmation from any of the players in the deal, the article can’t be taken as anything but the publication of rumors that have been circulating for the last couple weeks.
- [David Musil (Penta Real Estate): Evolution, not revolution](https://theprime.cz/sectors/offices/david-musil-penta/) - What’s going to change about Penta Real Estate now that you’ve replaced Petr Palička? I’ve been with the company 16 years, Petr was here 17 years. We shaped the company together, so this is just evolution, not a revolution. The company grew organically, and sometimes at a pretty wild pace. Deals and business were the
- [Martin Krupauer: 'We have to succeed' with Vltavská filharmonie](https://theprime.cz/urban-planning/martin-krupauer-vltavska-filharmonie/) - One of the most influential Czech architects, and owner of the A8000 architectural studio, Martin Krupauer has extensive professional experience at home and abroad. This includes work with the Solnice cultural center and the creative epicenter Bazilika in his hometown of České Budějovice. Prague entrusted him with the leading the creation of a brief for
- [Petr Palička's time at Penta ends as David Musil takes the reins](https://theprime.cz/news/appointments/petr-palicka-penta-musil/) - Penta's founding partner Marek Dospiva has paid his respects the outgoing managing director of Penta Real Estate. "Petr Palička came to Penta 17 years ago as an extremely experienced manager," said Dospiva. "He built a company out of nothing that's now a market leader, a company that's changing the face of the city for the
- [Problems deepen for Ivan Bartoš over construction permits](https://theprime.cz/news/problems-deepen-for-ivan-bartos-over-construction-permits/) - The Minister of Regional Development has promised to try to solve the deepening chaos surrounding his new digitized construction permit system with some legislative first aid. But the promise amounts to little more than an admission that there a problem exists. Construction office bureaucrats are currently processing construction permit applications submitted before July 1 on
- [Karel Stransky joins CTP as Group Business Development Director](https://theprime.cz/news/appointments/karel-stransky-ctp/) - Karel Stransky has joined CTP as Group Business Development Director, following over two decades working with Colliers. CEO Remon Vos said he would be tasked with expanding the company’s reach by overseeing and adding structure business development teams in each of the countries where CTP operates. Stransky estimates that he’s been involved in transactions that
- [Milota Sidorová on Slovakia's digital urban planning revolution](https://theprime.cz/urban-planning/going-digital-slovakias-ambitious-urban-planning-revolution/) - Slovakia is on an 8-year path to a fully digitized urban planning system. By 2032, all towns and cities are expected to have submitted new master plans in electronic format. This remarkable journey into hyper-modernity began back in 2022 with the establishment of a new government agency: the Authority for Spatial Planning and Construction (ASPC).
- [Škoda Auto opens Lauren & Klement Kampus in Mladá Boleslav](https://theprime.cz/sectors/offices/skoda-auto-lauren-klement/) - Volkswagen Immobilien has completed construction of a 22,000 sqm headquarters for Škoda Auto in Mlada Boleslav. An investment of such size is hugely impactful for what's really a rather small regional town. But it's also massive shift for the company's corporate culture. Rather than working in 20 locations around town, 2,000 of the company's employees
- [What crisis? NEPI Rockcastle NOI up 23%](https://theprime.cz/news/companies/what-crisis-nepi-rockcastle-noi-up-23/) - NEPI Rockcastle's net operating income (NOI) rose 23% year-on-year for the first half of 2023 to €241 million, according to CEO Rudiger Dany. Speaking to investors, he listed growing demand from shoppers for the improvement along with better invoicing thanks to rent indexation and lowered utility costs. But new income from two shopping mall acquisitions
- [Žebrak fire shuts down Toyota-Kolin](https://theprime.cz/news/companies/zebrak-fire-shuts-toyota-kolin/) - Toyota halted production of cars in Kolin after a devastating mid-August factory fire at one of its suppliers in Žebrak. The blaze caused an estimated CZK 1.8 billion in damages, requiring two days of work by firefighters to extinguish. Unfortunately for Toyota, Novares CZ Zebrak is a key supplier of plastic cars parts. The land
- [Stuart Jordan named CEO for Savills CEE](https://theprime.cz/news/appointments/stuart-jordan-named-ceo-for-savills-cee/) - Savills has appointed Stuart Jordan as its CEO for Central & Eastern Europe while combining its wholly-owned Czech and Polish businesses. Jordan has been leading the development of the Czech office since 2017, including its recent expansion into Slovakia. In this new role, he will also coordinate cross-border activity with Savills associate offices in Austria,
- [Peter Noack (Zeitgeist): Demand driving resi rents higher](https://theprime.cz/sectors/residential/peter-noack-zeitgeist-demand-driving-resi-rents-higher/) - Not too long ago, the residential market was seen as the safest investment possible. Apartments always sold and yields for rental properties were incredibly low. Now, mortgages are gone and interest rates are high. How have you adjusted to the new environment? From the beginning we were interested in residential for rent, not sales. So,
- [Masaryčka finally completed & approved](https://theprime.cz/news/leases/masarycka-completed-approved/) - Penta Real Estate’s new Masaryčka office building has received its final approval, clearing the way for the first tenants to move in. It marks the end of a seemingly endless road which included six years of negotiations with city officials and neighbors. The actual construction of the Zaha Hadid-designed structure took just over two years.
- [Julia Hoagland: The asking price should catalyze a sale](https://theprime.cz/news/leases/julie-hoagland-the-asking-price-should-catalyze-a-sale/) - You run a luxury residential agency in New York City, which is a huge market. What’s your approach? Our specialty is luxury sales of apartments over $1 million. We cover all of Manhattan and western Brookyln; our focus is primarily Manhattan. We maximize value for client transactions in areas where we have knowledge, and where
- [ULI pre-launch event scheduled for Sept 14](https://theprime.cz/news/uli-pre-launch-event-scheduled-for-sept-14/) - Radek Kučera (Grafton Property Partners) is spearheading the launch of the Urban Land Institute in the Czech Republic. To that end, he’s organized a pre-launch meeting on Sept. 14 at the Andaz Hotel in downtown Prague. Speakers include Zdenek Tuma (CSOB) who will discuss the Czech macroeconomic situation as it relates to real estate; Ondrej
- [ThePrime Subscribers Mixer/Dual Asset: Sept 26](https://theprime.cz/events/theprime-sept-26/) - The fall mixer season kicks off with some real froth on Sept 26 thanks to this month's sponsor Dual Asset. Besides a chance to get together after the summer holidays, it's a chance to check out Prague's newest attraction -- Pilsner Urquell: The Original Beer Experience. Things kick off at 6pm. Registering could hardly be
- [Shadow office vacancy rising in Brno](https://theprime.cz/news/leases/shadow-office-vacancy-rising-in-brno/) - Last year, more than 30,000 sqm of new office space came on line in Brno. So far, another 24,600 sqm has done so this year, but there’s only been 15,500 sqm of absorption to date. Which is why it’s only logical that vacancy is on the rise, according to Lukas Netolicky (Cushman & Wakefield). He’s
- [ThePrime Subscribers Mixer with Dual Asset](https://theprime.cz/news/theprime-subscribers-mixer-with-dual-asset/) - The fall season of ThePrime Subscribers Mixer kicked off with a bang last night. Many thanks to the whole team at the venute, and to everyone who came out to Pilsner Urquell: The Original Beer Experience. And I'm sure I speak for everyone when I thank Bryan Wilson and Dual Asset for their support of
- [Affordability workshop: Long-term institutional money could be key](https://theprime.cz/sectors/residential/long-term-institutional-money-and-the-affordability-crisis/) - Can housing be affordable? That was the name of the workshop put on by Wolf Theiss and ThePrime at Sal architektů. Given the multiple causes of over-priced real estate here, the simplest answer is probably ‘not for now’. And yet, there are signs of hope that new initiatives could help at least mitigate the constant
- [CEUTP downsizes, but stays in Warsaw Spire](https://theprime.cz/sectors/offices/ceutp-downsizes-but-stays-in-warsaw-spire/) - CA Immo has extended a lease with Centre for EU Transport Projects (CEUTP) in Warsaw Spire C, one of two 21,000 sqm GLA towers in the 3-building complex. CEUTP will continue to occupy its offices, continuing a lease that was first agreed in 2015. What’s interesting is that the original lease encompassed 6,200 sqm. It’s
- [Digitization of real estate and construction gaining steam](https://theprime.cz/smart-development/proptech/digitization-of-real-estate-and-construction-gaining-steam/) - The dot-com bubble popped over 20 years ago and the iPhone is already more than a decade old. So, why does the dream of digitizing the construction and real estate industry remain more than dream than reality? It’s not for lack of trying, at least not on the part of suppliers of digital solutions. If
- [3Things: AFI Europe, JTRE and RT Torax](https://theprime.cz/urban-planning/3things-afi-europe-jtre-and-rt-torax/) - AFI Europe received its final approvals for its second rental apartment building at AFI HOME Kolbenova, the residential portion of the developer's multifunctional AFI City development in Vysočany. The new building will offer 327 semi-furnished flats whose fit outs are being handled together with XXXLutz and ProCeram. Tenants will be able to start moving in
- [Vladimir Bolek (IAD): Asset growth takes work](https://theprime.cz/sectors/offices/vladimir-bolek-iad-asset-growth-takes-work/) - Vladimir Bolek is a member of the board at IAD Investments, which has over €2 billion in assets under management across Central Europe. The market is quite slow at the moment. As an investor, is that useful since there’s less competition for assets? Or are you in hibernation like so many others? But you’re just
- [Penta buys more land in Florenc from České dráhy](https://theprime.cz/news/real-estate-investment/penta-buys-more-land-in-florenc-from-ceske-drahy/) - Penta Real Estate has acquired a major piece of land above the Florenc metro station that lies along the Magistral road in central Prague. Penta will pay CZK 243 million for the plot, but the final price will go up, depending on what ends up being allowed to be built during the planning process. It's
- [Logicor's first Czech development gets underway](https://theprime.cz/sectors/industrial-logistics/logicors-first-czech-development-gets-underway/) - Logicor has kicked off construction of its first Czech regional logistics development on the D10 motorway 20 km northeast of Mlada Boleslav. The industrial specialist is building two new warehouses totaling 20,000 sqm, of which one will have a cross dock facility. Logicor has committed to improving the area around the brownfield site, including road
- [David Greenbaum named CEO of CPI Property Group](https://theprime.cz/news/appointments/david-greenbaum-named-ceo-of-cpi-property-group/) - CPI Property Group’s CFO David Greenbaum has replaced Martin Němeček as CEO as part of a series of changes to the company’s top management. Executive director Zdeněk Havelka has been appointed to the newly created role of Chief Operating Officer, while Pavel Měchura, Group Finance Director, will continue as sole head of the finance division.
- [Bratislava learns number of empty flats from electricity data](https://theprime.cz/news/leases/bratislava-learns-number-of-empty-flats-from-electricity-data/) - Until recently, Bratislava officials assumed there were 51,000 empty apartments in the city held by investors. To test the theory, however, the city decided to work with power companies to find out how many apartments were using no electricity or barely any at all. It turns out, there are at most 18,000 empty units in
- [First Five Guys location in Prague revealed](https://theprime.cz/news/leases/first-five-guys-location-in-prague-revealed/) - 2023 is turning into a year of welcome upheaval on the Czech fast food scene. First, the opening of a Popeyes on Wenceslas Square had people camped out overnight to be first in line. Weeks later and the restaurant is still having to make people wait outside before they’re served. While that may have something
- [InoBat (SK) and Gotion (China) to build Slovak gigafactory](https://theprime.cz/news/companies/inobat-sk-and-gotion-china-to-build-slovak-gigafactory/) - Gotion InoBat Batteries has signed a memorandum with the Slovak government on the construction of a car battery factory in Šurany. The facility will have an initial capacity of 20 gigawatt hours, but this could be doubled in the future. The two sides haven’t released details about the volume of the investment, but it’s expected
- [Henning Larsen Architects shocks with design for Prague's Main Station](https://theprime.cz/news/leases/henning-larsen-architects-shocks-with-design-for-pragues-main-station/) - The Danish architectural studio Henning Larsen Architects won an international competition for the reconstruction of Prague’s Main Train Station, and the shock of the daring design could hardly be greater. Rather than proposing some cosmetic changes to the original brutalist structure, the Danes call for the front portion of the station to be torn down.
- [Penta sells co-working center to Scott.Weber](https://theprime.cz/news/real-estate-investment/penta-sells-co-working-center-to-scott-weber/) - Penta Real Estate has sold a fully-leased co-working center to the market’s leader Scott.Weber Workspace. BASE is located in the Churchill office complex above the Main Train Station in Prague 2. The 2,200 sqm center offers eight meeting rooms, 25 offices and a community zone for up to 100 people. “We’re always looking for new
- [Savills puts Ondřej Míček in charge of Industrial](https://theprime.cz/sectors/industrial-logistics/savills-puts-ondrej-micek-in-charge-of-its-industrial-team/) - Ondřej Míček has completed his rise through the ranks of Savills’ industrial team. The company announced it has appointed him Head of Industrial Agency for its Czech and Slovak operations. Míček joined the company in 2019 as a leasing consultant, but expanded his role to cover industrial sales, land land acquisitions and data centres. “Having
- [Fallout from the Nový hlavák competition](https://theprime.cz/architecture/fallout-from-the-novy-hlavak-competition/) - Three partners (DPP, Správa železnic and the City of Prague, represented by IPR) came together around Prague's "Sherwood" (the sarcastic nickname given to the park in front of the main station). The primary idea was to revitalize and create something functional, pretty and positive for citizens. The effort was truly commendable! After all, the whole
- [CTP allies with ČEZ ESCO on huge rooftop solar panel investment](https://theprime.cz/sectors/industrial-logistics/ctp-allies-with-cez-esco-on-huge-rooftop-solar-panel-investment/) - CTP has teamed up with ČEZ ESCO in a strategic alliance to install more than 44,000 sqm of solar panels on many of the developer’s Czech industrial buildings. Eight locations have been chosen, which will result in annual production of up to 9,000 MWh. The first of the systems has already been built in CTPark
- [Sebastien Dejanovski (Mint Investments): Investment takes clear thinking](https://theprime.cz/news/leases/sebastien-dejanovski-mint-investments-investment-clear-thinking/) - In terms of residential, you’ve generally gone after mid-market projects. With Metropolis, you didn’t even plan to develop the project yourself. Now you’re finishing a luxury project in a prime location. How did that happen? Development is not our core business. We invest in development purely with the Mint owners’ money. When we find a
- [Bids in for Špindlerův Mlýn's Harmony Club Hotel](https://theprime.cz/news/real-estate-investment/bids-in-for-spindleruv-mlyns-harmony-club-hotel/) - Harmony Club Hotel in Špindlerův Mlýn is up for sale in a deal that's being run by Knight Frank. TRM International is widely believed to be one of the bidders
- [Jan Kotrbáček (C&W): Wenceslas Sq. reconstruction has sparked fresh retail demand](https://theprime.cz/urban-planning/jan-kotrbacek-cw-new-look-on-wenceslas-sparked-fresh-retail-demand/) - The reconstruction of Wenceslas Square has sparked new demand from retailers who now find it an attractive location to do business in.
- [Skanska used INNOVIS to improve security and efficiency](https://theprime.cz/industry-news/skanska-used-innovis-to-improve-security-and-efficiency/) - Skanska, a global development and construction group with Swedish roots and more than 43,000 employees worldwide, is proof of how modern technology can be an effective tool in solving complicated safety challenges. The Czech Republic is one of Skanska's important markets, where the company has been active since the 1950s. Traditionally, Skanska relied on security
- [Penta buys into Kaprain's brownfield project next to O2](https://theprime.cz/sectors/residential/penta-buys-into-kaprains-brownfield-project-next-to-o2/) - Penta Real Estate concluded a couple of real estate deals in Prague that will have a huge impact on what Prague's center ends up looking like.
- [P3 buys land for third Liberec logistic park](https://theprime.cz/sectors/industrial-logistics/p3-buys-land-for-third-liberec-logistic-park/) - P3 Logistic Parks has acquired a development plot on which it plans to build its third business park around Liberec. The new project is located near the D35 highway in Jeřmanice and is seen as suitable primarily as a logistics park. “We’ve been working quite hard on this land acquisition,” said Peter Jánoši, director of
- [ČNB could could cut Czech interest rates today](https://theprime.cz/news/leases/cnb-could-could-cut-czech-interest-rates-today/) - The Czech National Bank’s monetary council meets today, and there’s a real chance they could cut interest rates for the first time since 2020. Bloomberg writes that the 17 of the 23 economists it surveyed said it was likely that the country’s benchmark rate by 25 bps to 6.75%. Morgan Stanley’s economist Gerogi Deyanov said
- [100 Okay electronics stores up for sale](https://theprime.cz/news/100-okay-electronics-stores-up-for-sale/) - The Czech electronics group Okay is up for sale following a couple of poor post-Covid years. Datart and Alza are squeezing most players out of the market.
- [China's coming: BYD to build major Hungarian EV plant](https://theprime.cz/news/chinas-coming-byd-to-build-major-hungarian-ev-plant/) - The Chinese EV producer BYD has announced it will build a production facility for up to 200,000 cars annually within the next three years in Hungary
- [Czech sale prices for flats down 20%, says Toplak](https://theprime.cz/news/czech-sale-prices-for-flats-down-20-says-toplak/) - Real estate really does protect you against inflation…except when it doesn’t. Fun fact: over the last two years, Czech residential prices have actually fallen by 20%. That's if you take inflation into account when examining the prices in sales contracts. Think about it: prices on just about everything have been skyrocketing for the past 24
- [ULI to hold 2023 review of Prague's resi market](https://theprime.cz/news/uli-to-hold-2023-review-of-pragues-resi-market/) - The Urban Land Institute has organized an expert discussion on Prague's residential market, in collaboration with the Prague Finance Institute. Featured speakers are Ludek Sekyra (Sekyra Group) and Zdenek Tuma (CSOB). The discussion will be moderated by Radek Kučera, who launched the Prague chapter of ULI back in September. It takes place in the CERGE-EI
- [Fiege takes 18,000 sqm at CTPark Žatec for Nexen Tire Europe](https://theprime.cz/news/leases/fiege-at-ctpark-zatec-nexen-tire/) - Fiege has taken 18,000 sqm of warehouse space at CTPark Žatec, which it will use as a regional storage and distribution center for Nexen Tire Europe. The tires will be shipped to automotive manufacturing plants across Europe from Žatec. The lease triggered special adaptations to the warehouse as the Fiege stores the product in transport
- [Myslbek up for sale, AEW confirms](https://theprime.cz/news/real-estate-investment/myslbek-for-sale-aew/) - “Myslbek is going on the market,” says Zdeněk Hausvater of the building’s long-time owner AEW. Speaking with Hospodářské noviny, he said officially what brokers and investors have been discussing off-record in recent weeks. The 25,000 sqm building whose GLA is divided up roughly of one-third retail and two-thirds offices will be one of the most
- [2024: Transactions and new buildings in short supply, says Colliers](https://theprime.cz/news/2024-transactions-and-new-buildings-in-short-supply-says-colliers/) - Predictions for 2024 are starting to come out, and things aren’t exactly rosy for the Czech property sector. There are a number of potential pain points, but in most case, they’re connected with: the higher cost of both capital and construction; investor caution; and ever-stricter environmental requirements. In its own look ahead at the coming
- [CZK 1.78m raised at ThePrime Real Estate Gala](https://theprime.cz/news/czk-1-78m-raised-at-theprime-real-estate-gala/) - January 25 was a legendary night for Prague's property community. A sell-out crowd filled Žofin Palace to bursting for the second annual edition of ThePrime Real Estate Gala. Building on the traditions established at last year's break-out event, the 420 guests enjoyed a night of entertainment, incredible food and wine and awards. But the event
- [Król named to supervisory board at Arete Industrial SICAV](https://theprime.cz/news/appointments/krol-named-to-supervisory-board-at-arete-industrial-sicav/) - Jiří Król has joined the supervisory board of ARETE INDUSTRIAL SICAV Fund in a move that took effect February 1. Król is an expert in alternative investments with more than 20 years of experience in strategic investment management, policy making and financial services regulation. This is evidenced by the fact that he’s currently Deputy CEO
- [DRFG building factory for Heraeus Medevio](https://theprime.cz/news/drfg-building-factory-for-heraeus-medevio/) - DRFG Investment Group has begun construction on a 2-storey production hall for Heraeus Medevio near Hradec Kralove. It’s a build-to-own brownfield project designed to create 4,100 sqm of production space along with 3,000 sqm of office and admin space. DRFG has acquired a neighboring piece of land to make future expansion possible for the client.
- [Penta joins rental game in Prague with XPlace](https://theprime.cz/sectors/residential/penta-joins-rental-game-in-prague-with-xplace/) - Penta Real Estate is making its first move into the rental portion of the residential sector through a partnership with XPlace – a platform owned by the Prague Archdiocese. The agreement concerns two new buildings for Xplace located next to the Vidoule park in Prague in Penta’s new residential quarter Waltrovka. Construction is set to
- [EPG begins reconstruction, extension of Varyada](https://theprime.cz/sectors/retail/epg-begins-reconstruction-extension-of-varyada/) - EPG Group has begun the reconstruction of Varyada, the 21,000 sqm shopping mall it owns in Karlovy Vary. This is no mere facelift. Varyada was a huge change for local residents when it opened back in 2005. Among others, its completion in 2005 meant they didn’t have to drive all the way to Pilsen to
- [Prague extends PDS's investment committee term of office](https://theprime.cz/prague/prague-extends-pdss-investment-committee-term-of-office/) - Prague has extended the term of office of Martin Bendík, Jaromír Hainc, Martin Hvězda, Lukáš Kohl and Miroslav Singer PDS's Investment Expert Committee
- [Crestyl's Dornych project in Brno wins construction permit](https://theprime.cz/sectors/offices/crestyl-dornych-brno-permit/) - The developer Crestyl received a construction permit for Dornych, its major multifunctional project in central Brno. The project, part of an enormous push of investments that are changing the face of the city, will replace an old shopping center located next to the current train station. Its lower levels will offer shops and services while
- [Wiedermann: UBM pushing for acceptance of timber construction](https://theprime.cz/news/wiedermann-ubm-pushing-for-acceptance-of-timber-construction/) - UBM Development Czechia sold 71 flats in 2023, a year that saw the company celebrate its 30th anniversary on the market. Thirty four of the sales took place at Astrid Garden, a 138-unit project in Prague 7’s Holešovice. The rest of the sales were for flats in in Arcus City, the project whose latest phase
- [Crescon to begin work on Pec pod Sněžkou apartment project](https://theprime.cz/sectors/residential/crescon-to-begin-work-on-pec-pod-snezkou-apartment-project/) - With a construction permit now in hand, the developer Crescon is ready to begin demolition work on its mountain resort project Zahradky 1000 in Pec pod Sněžkou. This will require the reconstruction of an existing mountain cottage so that 33 new luxury units can be created. Roughly 20% of the units have already been either
- [Prague's wait for a new office project goes on](https://theprime.cz/news/prague-waits-for-new-office/) - It’s now been 18 months since a new office project got underway in Prague. Q4 2023 ended without any shovels going into the ground, and the year itself saw just 98,400 sqm of new space hit the market. The real supply crunch won’t hit until 2025, warns Josef Stanko (Colliers) warns in a new report.
- [ThePrime Investment Survey: 2024 will be busier...probably](https://theprime.cz/news/real-estate-investment/theprime-investment-survey/) - Vladimir Bolek (IAD) Which economic indicators or trends will have the biggest impact on the investment market and your own strategy this year? Generally, I’m following indicators like GDP development (creation on the demand side for space), the cost of financing and yield curve development (hedging cost and financing cost impact projects cash flow), employment
- [Fraser Watson (Savills): FOMO could make a comeback in 2024](https://theprime.cz/industry-news/fraser-watson-savills-fomo-could-make-a-comeback-in-2024/) - Which three economic indicators or trends will have the biggest impact on the investment market? The three economic indicators I think can have the biggest impact are inflation, interest rates and the story around GDP across the wider European sphere. I note that Germany is already in a mild technical recession. I don't know if
- [Bezvapostele to open sales warehouse in P3 Ostrava Central](https://theprime.cz/news/bezvapostele-sales-warehouse-p3-ostrava-central/) - Bezvapostele.cz has concluded a deal to open a sales warehouse in P3 Ostrava Central, a 60,000 sqm project whose second phase has just been completed. The building was finished last fall, ahead of the agreement which will see customers of the beds and mattresses company start arriving in August. Along with sales, the building will
- [Netolický: Office take-up jumps in Brno, but vacancy to rise](https://theprime.cz/news/netolicky-office-take-up-jumps-in-brno-but-vacancy-to-rise/) - Gross take-up in Brno’s office market spiked 82% y-o-y in 2023 to 143,600 sqm, outstripping the long-term average by 86%. Nearly half (48%) of the total came from renegotiations, while 32% was the result of new occupations. Going against the overall downsizing pattern, 12% of the space were expansion decisions. Lukáš Netolicky (Cushman & Wakefield)
- [ULI: Timber, pre-fabrication and modularity](https://theprime.cz/news/uli-timber-preo-fabrication-and-modularity/) - The latest Urban Land Institute session will take place on March 6 from 17:30 at The Julius hotel on Senovazne nam. in central Prague. The speakers for the panel discussion portion of the meeting will include: Lukas Zrust, Founder Progresus Group and RD Rymarov Owner Petr Michalek, Managing Director, Skanska Reality Jakub Cigler, Jakub Cigler
- [Timber finally breaks the 20-meter barrier in Czechia](https://theprime.cz/news/timber-finally-breaks-the-20-meter-barrier-in-czechia/) - Investors can begin constructing timber buildings of up to 22.5 meters beginning in 2025, thanks to a recent update to existing regulations. It’s a huge step up from the current ceiling of just 12 meters made possible in part to pressure from the Platform for Sustainable Wooden Construction. Spearheaded by UBM Development Czechia and Prodesi/Domesi,
- [Prague 8 names 19 new streets after men](https://theprime.cz/news/prague-8-names-19-new-streets-after-men/) - The development of Rohansky ostrov in Prague 8 has been in the works for so long you could almost be forgiven for forgetting about it. The huge new neighborhood required endless studies, public meetings and urban plans to make it possible, but it's all coming together now quite quickly. Proof of this came with the
- [AFI City 1 in Vysočany now fully occupied](https://theprime.cz/news/leases/afi-city-1-in-vysocany-now-fully-occupied/) - Hegelmann Transporte’s decision to make AFI City 1 its Czech headquarters means that the 17,300 sqm office building overlooking the growing Vysočany district is now 100% occupied. The German family-owned company has grown into a global player since its founding in 1998, but it specializes in the Central European market. It’s taken nearly 1,900 sqm
- [Radka Novak: Prague office space running out](https://theprime.cz/sectors/offices/radka-novak-prague-office-space-running-out/) - Is it time to panic? As Prague’s office pipeline begins to go dry, that’s a question corporations with large office space needs may start asking. It’s no secret that it’s been nearly two years since a major new office development got underway. The only major projects expected to complete this year are Roztyly Plaza (Passerinvest),
- [Tomáš Trčka (Trigea): The worst of the repricing is over](https://theprime.cz/news/real-estate-investment/tomas-trcka-trigea-worst-repricing/) - Western Europe has gone through a pretty substantial repricing of real estate assets. Many people question why they've been so steady here, relatively speaking, suggesting the domestic funds are inexperienced. Does the volume of local capital create its own market? This is nothing new. We went through it in 2008 and 2009. But this crisis,
- [Lodz deputy mayor calls MIPIM stand 'crucial'](https://theprime.cz/news/lodz-mipim-stand-crucial/) - It's definitely not cheap, so why is it worth it for Lodz to have a stand at MIPIM? Adam Pustelnik (Dep. Mayor Lodz): For Lodz and for many Polish cities, our presence at MIPIM is crucial because we still need capital, we need investors. Poland was a country without indigenous capital after the collapse of
- [VGP building next two sheds in Ústí nad Labem](https://theprime.cz/sectors/industrial-logistics/vgp-usti-nad-labem/) - Having just handed over the first building at VGP Park Ústí nad Labem City, VGP has kicked off construction of the next two buildings (B & C). And it’s not purely on spec, as RTR-Transport a Logistika has already signed up to take the 10,787 sqm Building B. The Czech logistics company has outgrown its
- [Innovis: technology for the smooth running of logistics sites](https://theprime.cz/notebook/innovis-technology-for-the-smooth-running-of-logistics-sites/) - Warehouse complexes are the center of logistical and commercial activities for businesses. Security and management are key priorities for them, influencing their efficiency, competitiveness, and reputation. The simpler the management, the lower the costs, and the more the business thrives. Add to this equation a more comfortable environment for employees and carriers, and at the
- [Apollo could invest in CPI's Berlin business](https://theprime.cz/news/companies/apollo-could-invest-in-cpis-berlin-business/) - CPI Group revealed last week that it is in an advanced stage of negotiations concerning a potential equity investment by Apollo Funds into its subsidiary GSG Berlin. The idea is that it would carry out a subscription of common shares for a total value of up to €450 million. No decision to move forward with
- [Tomáš Novotný now leading Concens Investments](https://theprime.cz/news/appointments/tomas-novotny-concens/) - Concens Investments has named Tomáš Novotný as its new director, 23 years after his career in real estate began. The developer’s biggest projects to date have been the Ostrava Airport Multimodal Park and the industrial park CE Park Nošovice which is now up for expansion. Much of Novotny’s professional life has been connected with the
- [Michal Sotak (Cushman & Wakefield): Euro adoption would help 'massively'](https://theprime.cz/news/michal-sotak-cushman-euro-adoption/) - Let’s start with Czech capital. Its dominance of the local market is evidence of real wealth in the country and faith in property as an asset class. But you could also see it as a sign the market is becoming less international. It's both. The positive side is that in the Czech Republic and Slovakia,
- [SHD starts construction on Rezidence Klíčov](https://theprime.cz/sectors/residential/shd-starts-construction-on-rezidence-klicov/) - SHD Real Estate has begun construction on Rezidence Klíčov, a 54-unit project in Vysočany - Prague 9. The developer also launched sales of the flats, which are divided between three multi-storey buildings. Most will be 2-bedroom flats, in line with the primary target group of singles, young couples and small families. Work is expected to
- [Alexandra Tomášková joins CAPEXUS as CCO](https://theprime.cz/news/appointments/tomaskova-capexus/) - Capexus has named Alexandra Tomášková as its Chief Commercial Officer where she will be tasked with developing the company’s commercial strategies and business opportunities. She’s worked in the B2B and property sector for years where she has a wealth of experience in sustainability issues. Her longest stint was spent in Skanska’s commercial section – initially
- [Milan Šlapak (RSBC): Focus brings the best results](https://theprime.cz/news/real-estate-investment/milan-slapak-rsbc-focus/) - You didn’t come from a real estate background, so 2023 can’t have been the easiest introduction. How did you find navigating it? Last year was tough for investment companies because when you have high interest rates and high inflation, investors have low-risk options that offer 24-hour liquidity and 6 - 6.5%. Investors ask themselves if
- [Peter Nitschneider (iO Partners): The money's there, but not the prices](https://theprime.cz/news/real-estate-investment/peter-nitschneider-io-partners/) - Last year was bad because people didn't know how far it was to the bottom. They didn’t know if inflation would fall, or if interest rates would continue climbing. With fewer unknowns now, does it mean this year will be busier than last year? Buyers and sellers are thinking ambitiously that everything will be fine
- [Mandates assigned for sale of Louis Vuitton building and The Square](https://theprime.cz/news/real-estate-investment/mandates-assigned-louis-vuitton-parizska/) - Mint Investments has put the Louis Vuitton building on Pařižská Street on sale for its owner Realitní fond KB. Hospodářské noviny, which broke the story, says the building was valued at CZK 1.26 billion in 2020, but that this could now exceed CZK 1.5 billion. The 2,000 sqm building underwent a complete renovation in 2014
- [TheWrap - April 5](https://theprime.cz/news/leases/thewrap/) - Bad Q4 for German commercial property loans Bloomberg reports that German banks reported a spike in non-preforming loans in the last quarter of 2023. That's according to the European Banking Authority, which released figures showing that troubled commercial property debt at German banks is now higher than the European average. In all, they listed
- [Richard Wilkinson (CTP): Access to liquidity is our competitive advantage](https://theprime.cz/sectors/industrial-logistics/richard-wilkinson-ctp-liquidity/) - You managed to get substantial financing from bond investors when that was advantageous without burning your bridges with the banks. What’s your strategy at this point, given the uncertainty of whether, or at least how fast, the ECB is likely to cut rates? One of the key tasks we have is to make sure that
- [Tewfik Sabongui to lead Czech & Slovak Colliers offices](https://theprime.cz/news/appointments/tewfik-sabongui-to-lead-czech-slovak-colliers-offices/) - Colliers has announced the expansion of Tewfik Sabongui’s responsibilities, placing him in charge of the Slovak branch of the business as well as the Czech Republic. He’s taking over from the current managing director Richard Urvay who will leave his post at the end of April to begin a new role client-side. Sabongui has been
- [PDS: Construction close to starting in Nové Dvory](https://theprime.cz/urban-planning/pds-nove-dvory-flats/) - After years of work and preparations, construction of the first new flats in the city’s development zone Nové Dvory could get underway by next year. In all, the urban planning for the area counts on creating homes for up to 5,000 new residents. The first project is called Jalový Dvůr, a 40-unit housing complex that
- [Unibail-Rodamco-Westfield to expand Centrum Cerny Most](https://theprime.cz/news/companies/westfield-centrum-cerny-most/) - Unibail-Rodamco-Westfield will extend Centrum Černý Most (CČM) by another 9,100 sqm in a project expected to complete by the fall of 2025. The additional space will result in 32 new stores, three VIP movie theaters and a brand-new food offering. Speaking at a press conference in the mall, which first opened in 1996, operations director
- [dm drogerie moves to Prologis Park Prague D1 Ostředek](https://theprime.cz/news/leases/dm-drogerie-prologis/) - dm drogerie has moved into a new warehouse, the DC2 building in Prologis Park Prague D1 Ostředek. The company has its primary logistics warehouse outside Jihlava. But as its network of stores grew to 256, the complexity of the business exploded. Over a single weekend, DM moved from a 7,000 sqm shed in Divišov into
- [Ikea extends lease at SEGRO Logistics Park Prague](https://theprime.cz/news/leases/ikea-segro-logistics-prague/) - Ikea has extended its lease agreement at SEGRO Logistics Park Prague in Hostivice. The deal continues the Swedish home furnishings giant long-standing relationshpis with Segro, which offers 250,000 sqm of industrial space at its park. The site offers quick access to the D5 motorway along with public transportation access for employees. “Environmental sustainability is hugely
- [No bids for Hotel Imperial at CZK 2.15bn](https://theprime.cz/news/real-estate-investment/hotel-imperial-tender/) - In an announcement that shocked no one, the confederation of unions received no bids for the Imperial Hotel in central Prague. If anything was shocking, according to hotel specialists, it was the asking CZK 2.15 billion asking price for the 120-room establishment, which the local press always describe as the “famous” Imperial Hotel. Frankly, when
- [HSF System completes 3 retail parks for KLM and J&T fund](https://theprime.cz/sectors/retail/hsf-system-completes-3-retail-parks-for-klm-and-jt-fund/) - HSF System has handed over a trio of Czech and Slovak retail parks, a total of 27 store units and 16,000 sqm of GLA. The investors are KLM Real Estate and J&T Property Opportunities Sicav fund. KLM board member Michal Kozáček says the projects followed strict environmentla guidelines that included the construction of green roofs,
- [NYX Hotel Brno to open in Crestyl's Dornych](https://theprime.cz/news/project-news/nyx-hotel-brno-dornych/) - Crestyl has reached an agreement with Leonardo Hotels to open an NYX Hotel in its Dornych project in Brno. NYX Hotel Brno will have 170 rooms on seven storeys. The brand puts a high priority on style, something that’s seen in the room designs and the untraditional bar and restaurant on the ground floor. It’s
- [Passerinvest's Roztyly Plaza opens next to Krč forest](https://theprime.cz/sectors/offices/passerinvests-roztyly-plaza-opens/) - Passerinvest has opened the first new office building of 2024 next to a stop on the C line of the metro. Roztyly Plaza offers roughly 21,700 sqm of administrative space along with 1,600 sqm of retail and a modern canteen. The seven floors of offices surround the building's spacious atrium and its dramatic hanging sculpture.
- [David Černý, developers, and public space](https://theprime.cz/urban-planning/david-cerny-developers-and-public-space/) - David Černý has struck again. The enfant terrible of Czech art initially denied that he was behind the sculptures that are to be installed on the newly renovated Maj department store. But it soon became clear that the hybrid butterfly/Spitfires that flooded social media were indeed his work. Usually, the battle lines that form have
- [Residential's long winter is over](https://theprime.cz/news/residentials-long-winter-is-over/) - A year ago, residential sales in Prague had hit rock bottom as interest rates, inflation and fears for the future peaked. So, with falling inflation and improvement on interest rates, an uptick in sales for Q1 this year wouldn't have been surprising. The thing is, they more than doubled according to the regulator monitoring of
- [CPI sells €250m stake in Polish portfolio to Sona](https://theprime.cz/news/real-estate-investment/cpi-sells-e250m-stake-in-polish-portfolio-to-sona/) - CPI’s quest to reduce its overall leverage continues with the announcement of an equity investment of €250 million by Sona Asset Management. The new investor will take a “significant minority” stake in a CPIPG subsidiary holding a €1 billion portfolio of 11 office properties in Warsaw along with two non-Warsaw retail assets. Due diligence is
- [War of the Shoes: Vasky vs. Footshop](https://theprime.cz/news/war-of-the-shoes-vasky-vs-footshop/) - While it’s usually a friendly, good news platform, LinkedIn unexpectedly became a virtual battleground recently between two Czech sneaker tycoons. It all started when a vandal spray painted the storefront of the shoe retailer Footshop with the words: “Shoe makers are going hungry. Footshop is shit!” To understand what happened next, you have to know
- [Prague resi prices still below their 2022 peak](https://theprime.cz/news/prague-flats-prices/) - The average price paid for an apartment in the Czech Republic is CZK 71,000 per sqm. That’s CZK 6,000 more than a year ago, but CZK 6,000 less than it was in Q1 2022. The data comes from real estate agent Iztok Toplak, who monitors the sales contracts of RE/MAX G8 Reality. They show that
- [Renata Hartle (Colliers): With ESG, it's all about data](https://theprime.cz/news/renata-hartle-colliers-esg/) - How quickly is carbon footprint reporting scaling up? The European Union made carbon footprint reporting mandatory. The CSRD (Corporate Sustainability Reporting Directive) defines who needs to report and what the reporting should cover. Until now, that’s only been for the biggest companies -- about 11,000 companies in the EU. From 2025, companies that employ over
- [CPI issues €500m green bond](https://theprime.cz/news/companies/cpi-issues-e500m-green-bond/) - CPI announced that it’s closed on €500 million in 5-year unsecured green bonds, for which €3 billion in orders were placed by prospective investors. The coupon was set at 7%, which is significantly higher than its overall interest rate of 3.12% (as of Dec. 31, 2023). In a statement on the new bonds, CPI admitted
- [Marian Mlynarik (CBRE): Retail parks are still underappreciated](https://theprime.cz/news/real-estate-investment/marian-mylnarik-cbre/) - How did last year compare to 2022 in terms of Slovak investment transactions? In 2023 we had investment volume of €664 million, which is a 41% decrease compared to 2022. 58% of the acquisitions were made by domestic investors, which is one of the highest in the region. In Poland, for example, they had just
- [Savills: Q1 industrial take-up stalls](https://theprime.cz/news/leases/savills-industrial-q1/) - Someone’s applied the brakes to the Czech industrial sector juggernaut that Covid unleashed. Seen through the prism of vacancy, it’s not so dramatic. Nationwide, vacancy rose 52 bps to 2.5%, which amounts to a bit more than 300,000 sqm. But while that’s hardly a scary number, as Ondřej Miček notes in a new Savills report,
- [Hilton reportedly going on sale](https://theprime.cz/news/real-estate-investment/hilton-reportedly-going-on-sale/) - Prague’s Hilton hotel is back on the market in one of the biggest deals of the year. E15 claims to have multiple sources for its claim that notices about the sale of the 790-room facility with 7,000 sqm of conference space should go out in the coming weeks. The article puts the expected price in
- [UDI creates qualified investors fund](https://theprime.cz/news/real-estate-investment/udi-creates-qualified-investors-fund/) - UDI Group set up a new fund for qualified investors that will enable it to invest in domestic and foreign development projects. The group will be targeting both private and institutional investors interested in backing building projects it's prepared. The minimum deposit is CZK 1 million. Fund management is to be provided Winstor, the custodian
- [Why I'm okay with Černý's butterflies on Máj](https://theprime.cz/sectors/retail/david-cerny-butterflies-maj/) - Now that I’ve seen it with my own eyes, I have even less patience with the outrage over David Černý's installation on the Maj building. I'm tired of architectural purists lecturing me about why I should appreciate the buildings pure lines, its unity of purpose, etc. etc. They tell me if I had architectural training,
- [Roland Hofman (Urbanity): We're changing industrial development](https://theprime.cz/sectors/industrial-logistics/roland-hofman-urbanity-were-changing-industrial-development/) - Construction is underway on the next two production buildings at Urbanity Campus Tachov. Urbanity is building what it sees as the next generation of industrial developments that integrate brownfield sites into the existing urban fabric while focusing on employee comfort and well-being. The Tachov campus is the first development in the Czech Republic to earn
- [DRFG's David Rusňak pledges to reduce LTV](https://theprime.cz/news/finance/drfgs-david-rusnak-pledges-to-reduce-ltv/) - SeznamZpravy asked DRFG founder David Rusňak about his company’s business at a time of growing concern over the viability of bond-financed real estate investors. He said the company had recent completed and sold off its first residential project and was close to completing another in Mladá Boleslav. Rusňak admitted that sales have gone slower than
- [Zdeněk Kovář (Drees & Sommer): Digitization depends on the younger generation](https://theprime.cz/news/appointments/zdenek-kovar-drees-sommer-digitization-depends-on-the-younger-generation/) - What’s it like to change companies after a couple decades? Sometimes you need to step out of the luxury of being in a comfortable seat for 20 years. Otherwise, you risk getting a bit lazy. But also, it was exciting to be able to be part of recreating the company’s presence in the Czech Republic.
- [Passerinvest breaks the ice with new office project](https://theprime.cz/sectors/offices/passerinvest-office-hila/) - Passerinvest began construction on Hila, a new office building yesterday, the first time a Prague developer has done so on a speculative basis in two years. Located in the Brumlovka office park, the multifunctional building is a bit more multifunctional than most: along with 20,500 sqm of offices (on floors 2 to 8), 2,000 sqm
- [Government rolls out affordable housing program](https://theprime.cz/news/government-rolls-out-affordable-housing-program/) - The Czech government unveiled its affordable program yesterday. It’s offering an initial CZK 8 billion to support cheap loans land to towns and private investors so they can build residential projects. In return, those projects have to offer flats to people who meet a series of criteria and less than commercial rents. It's about time.
- [John Newton: Sustainability's stars are finally aligning](https://theprime.cz/smart-development/sustainability/john-newton-sustainability/) - Last summer, when studying for my ESG qualification, Larry Fink of Blackrock, announced that ESG is dead! Thanks Larry, I thought as I read the bold print. I knew ESG naysayers would be quoting him out of context to promote their out-of-date climate crisis denial mindset. Their dream is to keep sitting on their rich,
- [Bratislava's new paradigm benefits Penta's Southbank scheme](https://theprime.cz/urban-planning/bratislava-penta-southbank/) - After years of preparation work, Penta is submitting EIA documentation for its Southbank project. It’s a major step for the scheme, which could involve as much as 200,000 sqm of new real estate and take a decade to complete. Divided roughly 50/50 between residential and office space, Southbank requires changes to Bratislava’s masterplan. But as
- [KGAL (re)introduces Karlák Shopping Square](https://theprime.cz/sectors/offices/kgal-karlak-shopping-square/) - What’s in a name? A lot, according to German-based KGAL. Among other major innovations at the property, it’s changing the name of Charles Square Center to Karlák Shopping Square. The thinking that went into this significant shift in tone must have been multi-layered. Charles sounds rather serious and formal. Karlák is the short, friendly nickname Czechs
- [AFI Europe to buy +800 rental flats from FINEP](https://theprime.cz/sectors/residential/afi-europe-finep/) - AFI Europe has agreed to buy more than 800 flats from the residential developer FINEP in two separate projects. The first deal involves nearly 300 rental flats in two buildings in FINEP's Nova Electra project in Hloubětin - Prague 9. The second transaction is for FINEP's project (Obytný soubor v Korytech) in Strašnice - Prague
- [Fitch warns CRE pain in U.S. "ain't over yet"](https://theprime.cz/voices/fitch-warns-cre-pain-in-u-s-aint-over-yet/) - Sorry to be a joy-kill, but the ratings agency Fitch suggests we should take a grain of salt before reading headlines like: "US Commercial real estate bottoming out!" or "Now's the time to buy!" Doing my own Google search, I found headlines proclaiming the bottom as far back as December 2023 ;-)....Fitch's own headline was
- [New-look Máj shakes-up Prague's downtown entertainment scene](https://theprime.cz/sectors/residential/maj-prague-entertainment/) - Amadeus Real Estate may have bought the Máj building in central Prague in 2019, but it took quite a while to answer the question: what do you do with a former department store? It’s a question that most investors would probably prefer to have figured out before agreeing to a price for an asset as
- [Star Group begins work on new phase of Nové Chabry](https://theprime.cz/sectors/residential/star-group-chabry/) - Star Group has begun construction on the latest phase of Nové Chabry, a new community it's been building in Dolní Chabry - Prague 8 for the past decade. This latest phase includes 250 units in 10 apartment buildings, adding to the 620 that have already been built and sold. Permitting issues prevented Star Group from
- [IBF Real Estate BBQ kicks off summer](https://theprime.cz/news/ibf-real-estate-bbq-kicks-off-summer/) - Not even a torrential afternoon downpour was enough to prevent a couple hundred real estate professionals from gathering at the 2024 IBR Real Estate BBQ. The food was saved and the mood was buoyant as the clouds above Letenské zámeček moved north of Prague. Two lucky guests (you know who you are!) won subscriptions to
- [Digital submissions suffer rocky start](https://theprime.cz/news/digital-submissions-suffer-rocky-start/) - The new construction came into effect on Monday, including the controversial shift to digital submission of construction permits. Well, the reviews are in and they're about as bad as expected. Among the harshest came from the Association of Developers. "Unfortunately, what the Association repeatedly warned about happened," writes its director Zdeněk Soudný. "The system, civil
- [E15: Autoland is moving to Africa](https://theprime.cz/news/autoland-moving-africa/) - E15 warned readers this week that northern Africa is the Czecho-Slovak auto sector's surprising new competitor. Its headline, 'Autoland moving from Europe to the desert' may be overly dramatic. But the truth is that north African countries can offer cheaper and more flexible labor -- and it's attracting increasing levels of foreign investment. The articles
- [Juraj Bielik (365.invest): We're a new company now](https://theprime.cz/news/companies/juraj-bielik-365-invest-were-a-new-company-now/) - You’ve spent the last four years overhauling 365.invest. What has that involved, specifically? When I began in 2020, the company had many more funds than it does now. Over the last three years, we closed some of them, some of which were real estate funds but also capital market funds. Our aim is to continue
- [Wolf Theiss and Sky CP agree leases at AFI Karlín](https://theprime.cz/news/leases/wolf-theiss-and-sky-cp-agree-leases-at-afi-karlin/) - The legal firm Wolf Theiss and the European media company Sky CP have both taken space in AFI Karlín in Prague 8. AFI’s head of asset management Kateřina Holická says Wolf Theiss will open its new office this October under the terms of its lease, occupying 1,350 sqm on two floors of the building. Sky
- [Resi land prices recovering](https://theprime.cz/sectors/residential/resi-land-prices-have-recovered/) - Czech residential land prices peaked nationwide in Q2 2022 before falling, reflecting the impact of higher interest rates seen across the market. But the plunge was only temporary, as growth picked up again in the second half of 2023. The average price of a plot between 450 sqm and 3,000 sqm now stands at CZK
- [Zeitgeist begins leasing at Residence Delta Hagibor](https://theprime.cz/sectors/residential/zeitgeist-leasing-rezidence-delta-hagibor/) - Zeitgeist Asset Management has begun renting 145 flats along with 19 studio units in Residence Delta Hagibor at the border of Prague’s Vinohrady and Strašnice neighborhoods. Peter Noack says the project is the latest addition to its Home by Zeitgeist portfolio that it manages for Invesco Real Estate. “The advantage is that as an experienced
- [Kotek (Colliers): Industrial rents have peaked](https://theprime.cz/news/kotek-colliers-industrial-rents-have-peaked/) - Having doubled over the past five years, warehouse rents have peaked, according to Miroslav Kotek (Colliers). Available stock was already drying when the pandemic helped drive e-shop occupancy to unsustainable levels. The e-shop fever has broken, however, leading to consolidation in the market as earnings slow. But there are other reasons warehouse rents are subsiding.
- [Corwin envisions car-free Palma as its "legacy project"](https://theprime.cz/urban-planning/corwin-envisions-car-free-palma-as-its-legacy-project/) - As it acquired the brownfield site in 2019, Corwin knew Palma would take years to complete. While the former industrial required no decontamination work, the planning needed to create a vision for the location -- and to secure the necessary planning permits -- was always going to be a lengthy process. Five years later and
- [Revetas sells TriGranit to DRFG](https://theprime.cz/news/real-estate-investment/revetas-sells-trigranit-to-drfg/) - Five years after its acquisition, Revetas Group has offloaded the Budapest-based developer TriGranit to the Czech investment group DRFG. Revetas founding partner said he was pleased to have found a buyer who valued TriGranit’s CE team of professionals. Since buying the company in 2018, he said he’d brought in new management along with completing Millennium
- [GREIX: Germany's residential sector has turned the corner](https://theprime.cz/news/greix-germanys-residential-sector-has-turned-the-corner/) - Germany’s residential property slump may be over if Q2 results are any guide. The turnaround appears to be based on confidence that interest rates are finally beginning to come down. Nationwide, existing flats dropped 16% in price, while new build units only lost 6%. But some town suffered enormous losses. In Stuttgart, house prices fell
- [Toyota Tsusho Europe moved into Prologis Park Pilsen II](https://theprime.cz/news/leases/toyota-tsusho-prologis-pilsen/) - Toyota Tsusho Europe SA has moved into a custom-built space at Prologis Park Pilsen II from which it intends to serve Central Europe’s consumer markets. Initially, TTESA will occupy 8,700 sqm of the 15,300 sqm facility but eventually expects to fill the entire space. “This base in Pilsen provides us with the perfect location to
- [JTRE: Downtown Yards pre-sales reach 20%](https://theprime.cz/sectors/residential/jtre-downtown-yards-sales/) - J&T Real Estate has announced that it’s sold over 20% of the residences of its project Downtown Yards. Located in the Nivy area of Bratislava between Košická and Plátenícka streets, the project is made up of residential blocks ranging from 8 to 27 floors. The developer is also counting on the construction of a wide
- [Arcona shifts into high gear on Bydlení Úvaly](https://theprime.cz/sectors/residential/arcona-shifts-into-high-gear-on-bydleni-uvaly/) - Arcona has had its major suburban real estate project Bydlení Úvaly on a slow burn for the last ten years, building up around 160 units in small phases. The pace is set to pick up dramatically, however, in conjunction with the construction of the Úvaly bypass, a road designed to relieve pressure on the congested
- [Czech residential market emerging from hibernation](https://theprime.cz/news/czech-residential-market-emerging-from-hibernation/) - The Czech Republic’s residential market is finally showing signs of life. “Especially in the second half of 2023, the market was far more active than in the previous four quarters,” says the director of Dataligence Milan Roček. “We’re gradually moving towards normal relationship between supply and demand that was here before the war and the
- [Attending companies list for ThePrime Gala](https://theprime.cz/news/attending-companies-theprime-gala/) - Corporate Tables 108 Agency AFI Europe Arete ASB Avison Young CBRE Českomoravská nemovitostni CEZ ESCO Charnwood/Karl Wilson Colliers (2 tables) Colliers CTP Cushman & Wakefield Deutsche Pfandbrief Dual Asset GLP Helaba iO Partners (2 tables) Knight Frank Mint Partners Panattoni Passerinvest Penta Real Estate Savills Sentient The Julius Prague TPA Urbanity West Bohemia Development Co.
- [Sold out!! ThePrime Real Estate Gala is tomorrow!](https://theprime.cz/news/sold-out-theprime-real-estate-gala-is-tomorrow/) - ThePrime Real Estate Gala has sold out, reaching a remarkable 430 guests, including the artists whose work will be auctioned off to support the foster care NGO Rozum a Cit z.s. The moderator Petr Šimůnek (Editor in Chief of Forbes magazine in the Czech Republic and Slovakia) will call the event to order at 8pm.
- [Central banks keeps interest rates at 7%](https://theprime.cz/news/finance/central-banks-keeps-interest-rates-at-7/) - Higher for longer. That's been the consensus among economists when it comes to predictions about interest rates around the world.
- [Stewart Thomson takes over at Hines CZ](https://theprime.cz/news/appointments/stewart-thomson-takes-over-at-hines-czech-republic/) - Stewart Thomson is the new head of Hines CZ following the retirement of Mietek Godsisz. The company will continue to search for new assets in the country.
- [Penta closes in on deal for Florenc bus station](https://theprime.cz/news/leases/penta-closes-in-on-deal-for-florenc-bus-station/) - Penta has asked for permission from the Czech anti-monopoly office to buy ČSAD Praha Holding, the company that developed the Bastion office building next to the Florenc bus station in downtown Prague. Penta Real Estate tried hard to buy Bastion even as it was preparing the Masaryčka back in 2016, but ultimately failed. However, ČSAD
- [Amundi sells CZK 450 million City Point to WorkLounge founder](https://theprime.cz/news/real-estate-investment/amundi-sells-czk-450-million-city-point-to-worklounge-founder/) - Mint Investments has completed a deal for Amundi Czech Republic for the sale of City Point to WorkLounge founder Lubomir Šilhavy. Cushman & Wakefield and Havel & Partners were also involved in the CZK 450 million deal for the asset, which is located next to the Arkady shopping center. “We managed to secure a truly
- [Portin selling off 10 Czech retail parks](https://theprime.cz/news/real-estate-investment/portin-selling-off-10-czech-retail-parks/) - Retail parks jumped to the top of the hitlist for real estate investors during the pandemic. So, it’s big news that the developer Portin will be selling off 10 all at once, for which it expects to collect more than CZK 4 billion. Co-founder Jindřich Kukačka says the deal could net Portin as much as
- [X1 Future acquires building in UBM's Timber Praha](https://theprime.cz/news/real-estate-investment/x1-future-acquires-building-in-ubms-timber-praha/) - UBM Development Czechia has somewhat unexpectedly sold one of the buildings in its project Timber Praha to the investment fund Future X1. Building M is the first multi-level apartment building in Czechia to be built from wood. When completed, it will offer 15 flats, or a total of 1,000 sqm of space. Future X1, which
- [Appointments: Robert Sgariboldi (iO Partners), Kamila Breen (C&W)](https://theprime.cz/news/appointments/appointments-robert-sgariboldi-io-partners-kamila-breen-cw/) - iO Partners has appointed Robert Sgariboldi as the Head of Industrial agency in Czechia. It’s part of the reorganization of following the promotion of James Fitzgerald to the company’s newly created role of Regional Director for Industrial & Logistics, covering the CEE and Balkan region. Sgariboldi joined the company in 2022 after more than 20
- [The Gigafactory fiasco](https://theprime.cz/news/leases/notebook-the-gigafactory-fiasco/) - The Czech government appears to have strong-armed regional and local officials in Pilsen into accepting plans to turn the Líně airport into a battery-producing Gigafactory. But along the way, it's had to downgrade its dreams for a 700 ha development zone to just 280 ha. What's more concerning, however, is that Volkswagen first made its
- [A tale of two moods at Expo Real](https://theprime.cz/news/finance/a-tale-of-two-moods-at-expo-real/) - The weather in Germany was gorgeous, but mood of the Germans was foul. Asked when the market might start recovering, the optimists were the ones hoping for the end of 2024. What a stark contrast with Central Europe(ans). Sure, new office supply has fallen off a cliff in Warsaw, and logistics construction is down 40%
- [Petr Barton (Natland): Real wages are rising again](https://theprime.cz/news/petr-barton-natland-real-wages-are-rising-again/) - I asked Petr Barton for an interview as soon as I read his LinkedIn post with the latest inflation figures from the Czech Statistics Office (CSU). Natland’s chief economist wrote: “The number for today is 2.3%. We’ve started to get richer again. Wages are rising faster than prices. [2.3%] is the pace that real annual
- [Contera secures €270m in new financing](https://theprime.cz/news/finance/contera-secures-e270m-in-new-financing/) - The developer Contera has concluded a new financing deal worth €270 million that its CFO Daniela Fraňková says will see it through the next seven years. She admitted that there’s considerable competition for loans now, but that Contera had reached agreement with banks it’s been working with for years. “The valuation of the portfolio didn’t
- [iO appoints Radulovic MD in Belgrade for Balkans HQ](https://theprime.cz/news/companies/io-appoint-radulovic-md-in-belgrade-for-balkans-hq/) - iO Partners has opened a new office in Belgrade while establishing a regional department to handle the industrial and logistics sector. Managing Director Jelena Radulovic will run the new office in Belgrade, which serve as a base to cover Serbia, Croatia, Slovenia and Montenegro. Radulovic, whose real estate career stretches back 20 years, served most
- [John Gabrovic: Building (and leveraging) community is key](https://theprime.cz/sectors/offices/john-gabrovic-building-and-leveraging-community-is-key/) - “Earn the Commute” “Both office developers and retail operators will need to be better at what they do – creating work environment experiences that are not somewhat, but significantly better than what workers have at home. And retailers have to give consumers an experiential shopping experience which beats the convenience and selection of on-line
- [Marcus Cieleback (Patrizia): We have to relearn real estate](https://theprime.cz/urban-planning/marcus-cieleback-patrizia-we-have-to-relearn-real-estate/) - I was intrigued by your job title at Patrizia: Chief Urban Economist, as opposed to Chief Economist. Focusing on the economy of cities will give you a different window into the type of investments Patrizia is going to make. Ultimately as an economist I think we got a little carried away by too much technical
- [Kaprain buys 5 ha brownfield in Prague 9](https://theprime.cz/sectors/industrial-logistics/kaprain-buys-5-ha-brownfield-in-prague-9/) - The Czech investment group Kaprain has acquired a 53,000 sqm brownfield site next to the Harfa Business Center from Howden ČKD Compressors. Founded in 2013 by Karel Pražák, Kaprain currently has more than CZK 33 billion in assets under management. Colliers and PRK Partners acted for the vendor, while BBH represented the buyer. The site
- [MINT Residential Fund buys FINEP's Prague 9 resi project](https://theprime.cz/news/real-estate-investment/mints-residential-fund-buys-fineps-prague-9-resi-project/) - Mint Residential Fund has signed a contract with the residential developer FINEP for the reconstruction of a former industrial building. Including additions to the building, the project has been designed to offer 168 flats at Poděbradska 61 along with 71 parking places. The transaction is reportedly worth almost CZK 1 billion. “We found a professionally
- [American office workers are back...So is Covid.](https://theprime.cz/notebook/american-office-workers-are-back-so-is-covid/) - American workers are back in the office, as employers are finally getting the upper hand. “Fewer than 26% of US householders still have someone working remotely at least one day a week, a sharp decline from the early-2021 peak of 37%,” writes Bloomberg. At this point, only 7 states have a rate that’s above 33%.
- [First look inside Port7 and Scott.Weber](https://theprime.cz/news/leases/first-look-inside-port7-and-scott-weber/) - Skanska officially opened up its Port7 project, 36,000 sqm of new office and retail space. While the leasing market hasn’t been hot, just over half of the offices have been taken. Skanska used the event space in one of its new tenants, Scott.Weber, to host a gathering of journalists, followed by a tour of the
- [Tomáš Némethy to lead Cushman & Wakefield Slovakia](https://theprime.cz/bratislava/tomas-nemethy-to-lead-cushman-wakefield-slovakia/) - Cushman & Wakefield Tomáš Némethy as its Managing Partner in Slovakia, the latest in a series of changes it says illustrate a commitment to growth in the market. Némethy, who joined the company in 2019 as head of valuations, takes over from Marián Fridrich after five years at the helm. “The local branch is standing
- [Microsoft pulls the plug on Prague 9 data center](https://theprime.cz/urban-planning/microsoft-pulls-the-plug-on-prague-9-data-center/) - Not even the world’s largest software company could crack the Czech bureaucracy code. But when E15 asked government sources for a reaction to news that Microsoft has given up on its plans to build a CZK 5.5 billion data center, it had nothing to say. One source close to the project said, “The legislative demands
- [Fred Hlobil: New industrial vacancy is denting rents](https://theprime.cz/sectors/industrial-logistics/fred-hlobil-new-industrial-vacancy-is-denting-rents/) - With the benefit of hindsight, was it a good idea to start your business in the middle of a crisis? I think it was definitely a good idea. The whole market has a different dynamic now. There’s been a big change, in the sense that until Covid, the market was controlled by the big corporate
- [Panattoni opens new factory for Shape Corp.](https://theprime.cz/sectors/industrial-logistics/panattoni-opens-new-factory-for-shape-corp/) - Shape Corp. opened its new factory in Nýřany outside Pilsen yesterday, though it could take up to a year for the facility to reach full capacity. The supplier of steel automobile components currently maintains three separate factories around Pilsen. But continued growth made consolidation into a single location an unavoidable reality. It’s an impressive set-up,
- [UBM literally tops out at Timber Praha](https://theprime.cz/sectors/residential/ubm-literally-tops-out-timber-praha/) - UBM Development Czechia has topped out its wooden apartment building project Timber Praha, which forms the third phase of Arcus City in Prague – Řeporyje. Since Czech consumers aren’t used to wooden buildings, UBM’s director Josef Wiedermann invited journalists out to see the 62 new flats for themselves. Ranging in size from 39 sqm to
- [Is real estate really an inflation hedge? ThePrime asks its readers...](https://theprime.cz/sectors/offices/is-real-estate-really-an-inflation-hedge/) - We've been stumbling from one crisis to the next since 2020, straight into an inflation hurricane. People seemed to think inflation was a thing of the past, never connecting it to the value of their own apartments and property funds that for years did nothing but gain in value for years. Now that we've been
- [Prague airport seeks development partners](https://theprime.cz/notebook/prague-airport-seeks-development-partners/) - The Prague airport is looking for partners to help it develop some of the huge, empty tracts of land that surround it. Letiště Praha’s chairman Jiří Pos told E15 “Airport City” should be developed along the lines of those that have built around the Vienna and Amsterdam airports. The state-owned company is currently planning a
- [Court rejects insolvency claim against Hegertova cihelna](https://theprime.cz/news/companies/court-rejects-insolvency-claim-against-hegertova-cihelna/) - The owner of the Hergetova cihelna restaurant in central Prague has fought off an attempt by Immovision Praha to have it declared insolvent. Immovision Praha, which is owned by Sebastian Pawlowski, rents the building from the city and in turn rents the building to the restaurant operator Cihelna Entertainment Complex (owned by Nils Jebens). "Cihelna
- [Clear skies for the IBF Real Estate BBQ](https://theprime.cz/prague/clear-skies-for-the-ibf-real-estate-bbq/) - The IBF Real Estate BBQ went off without a hitch last night at Letenske zamecek for the second year in a row. Crucially, the weather again cooperated, so the party above Prague's historic center continued until late into the night. With 250 tickets to the sold, the BBQ has definitely made its mark as the
- [With its team in place, Crowdberry gets serious about property](https://theprime.cz/news/finance/omar-sattar-to-lead-crowdberrys-real-estate-division/) - Partners at the investment platform Crowdberry always said they would be open to getting involved in real estate investments, but the company's business is more opportunistic. Formed in 2015, the crowd-funding platform has gotten involved in 15 ventures for which it's raised a total of €24 million from a collection of private investors that now
- [VŠE's MBARE program accepting applications](https://theprime.cz/brainfood/vses-mbare-program-accepting-applications/) - The MBA Real Estate and Valuations program at Prague’s University of Economics (VŠE) will be accepting applications for the 2023/2024 school year until September 24. They can be submitted at this link. Now in its sixth year, the program now has nearly 100 graduates. The goal of the MBARE program is to provide its students
- [Supply of available flats fell in H1](https://theprime.cz/news/supply-of-available-flats-fell-in-h1/) - There were new 5,500 flats on offer in Prague as of the end of June, 50 less than at the end of the first quarter of 2023. According to the developer Central Group, it’s the first time since the key indicator has fallen since Q3 2021, when the number of available units cratered at 2,750.
- [Prague's strong office take-up a European exception](https://theprime.cz/news/leases/pragues-strong-office-take-up-a-european-exception/) - Prague office take-up in the first half of 2023 was 13% higher than its 5-year average has been, the 3rd best result in Europe. But the Czech capital was very much the exception, as only three other markets avoided declines (Luxembourg, Oslo, Paris CBD, and Madrid). The rest of Central Europe reflected the European reality
- [Zdenka Klapalová (Knight Frank): The time for professionals has arrived](https://theprime.cz/news/real-estate-investment/zdenka-klapalova-knight-frank-the-time-for-professionals-has-arrived/) - The era of the Czech real estate investor began during the last market crisis we went through, with CPI being the most obvious example. That makes it the first complete cycle most Czech funds have seen. Financing and pricing have shifted significantly, but the opportunities this time will be of a different nature. Every swing
- [Prague hotel market ranks #2 in CEE, behind Budapest](https://theprime.cz/news/leases/prague-hotels-rank-2-cee-behind-budapest/) - Budapest is Central Europe’s most attractive among operators currently active or interested in the region. But Prague comes in a close second, with RevPAR reaching €69 for the first half of 2023. That’s 5% above H1 2019, when hotel revenues in the city were peaking. The numbers come out even better for the average daily
- [Sattar rejoins Colliers, Kotek to lead industrial](https://theprime.cz/sectors/industrial-logistics/sattar-rejoins-colliers-kotek-to-lead-industrial/) - Omar Sattar has returned to the Prague office of Colliers, this time to head its real estate investment team. It's his third stint with the company, having begun his real estate career there in the UK in 1994, before moving to Prague three years later. His second spell at Colliers came as managing director from
- [Inflation's downward spiral reaches 8.8%](https://theprime.cz/news/inflations-downward-spiral-reaches-8-8/) - Czech inflation fell into single digits in June and the trend continued in July, coming in at 8.8% on a year-on-year basis. If that's the good news, the bad news is that it's the ninth worst rate of 41 European countries. Jakub Matěju, a Czech National Bank official, says the country is still on track
- [Karolis Adlis (WP Carey): Leasebacks work in any environment](https://theprime.cz/news/finance/karolis-adlis-wp-carey-leasebacks-work-in-any-environment/) - It was in Warsaw earlier this summer that I met with Karolis Adlis, Executive Director of W.P. Carey. It had been a while since I’d been in touch with the company, so I was curious how an investor that’s only ever interested in sale and leasebacks was handling the new environment. I began by asking
- [Alexander Rafajlovič (CA Immobilien): Offices remain key, but dynamic asset class](https://theprime.cz/sectors/offices/alexander-rafajlovic-ca-immo-offices-remain-key-but-dynamic-asset-class/) - [et_pb_section admin_label="section"] [et_pb_row admin_label="row"] [et_pb_column type="4_4"][et_pb_text admin_label="Text"] Alexander Rafajlovič is Head of Market Research and Data Analytics at CA Immobilien. He arrived at the company as it was completing a long transition to focusing on core office assets in what it sees as key markets. Alexander is based in Prague. It's been a tumultuous year
- [AmRest deploys Singu FM system by Velis in CZ,PL,HU](https://theprime.cz/smart-development/proptech/amrest-deploy-singu-fm-system-by-velis/) - AmRest has concluded a deal with proptech company Velis Real Estate Tech on the implementation of its facility management system Singu FM. AmRest runs more than 2000 branded restaurants across 22 countries, including KFC, Starbucks, Burger King and Pizza Hut. To date, Singu FM has already been implemented in the Czech Republic, Poland and Hungary
- [Ondřej Křivanec (Fidurock): Euro leases for residential work](https://theprime.cz/sectors/retail/ondrej-krivanec-fidurock-euro-leases-for-residential-work/) - How far apart are buyers and sellers right now on price? And how has that affected your pace of acquisitions over the past 12 months? With the cost of capital nowadays, selling a Czech koruna income asset for 6% or 6.5% isn’t achievable. The general opinion on the market now is that buyers and sellers
- [Prague resi rents up 9% since Q2 2022](https://theprime.cz/prague/prague-resi-rents-up-9-since-q2-2022/) - As of the end of Q2, renting an apartment in Prague will now cost you more than CZK 400 per sqm not just in the 1st district, but in Prague 2 and Prague 3. That’s a big change from a year ago, when the average monthly charge all over town was in the 300’s. A
- [Jan Palek: GLP bringing Digital Twins to industrial](https://theprime.cz/sectors/industrial-logistics/jan-palek-glp-bringing-digital-twins-to-industrial/) - Tell me about what led to the decision for GLP to implement digital twins across the entire Czech portfolio. What sort of experience do you have with it? I worked on Terminal 5 project in London from 2005 to 2007. I was in one of the production design teams leading a couple of the packages.
- [Redside doomed by ties to Arca](https://theprime.cz/news/real-estate-investment/redside-doomed-by-ties-to-arca/) - The messy collapse of Arca Investments finally broke the back of Rudolf Vřešťál’s investment group Redside, including its fund, Nova Real Estate. “Unfortunately, it’s time to admit openly that the shadow cast by the fall of the Arca group had a big impact on Redside’s reputation,” Vřešťál wrote in an open letter to his investors.
- [3Things: Petra Myšáková (CMS), plus offices (Bratislava/Warsaw)](https://theprime.cz/sectors/offices/3things-petra-mysakova-cms-plus-offices-bratislava-warsaw/) - CMS has appointed Petra Myšáková as a partner in its Prague office, where she’ll be head of the company’s Banking and Finance team. She’s built up a significant track record in this field where she’s now recognized as a leading professional. The move, which takes effect as of September 1, is important for CMS’s trajectory
- [Sale of Arkády Pankrác: Czech investors strike again](https://theprime.cz/news/real-estate-investment/sale-of-arkady-pankrac-czech-investors-strike-again/) - Various Czech newspapers cited a Bloomberg article yesterday that claims Arkády Pankrác is on sale in a transaction worth an estimated €265 million. It would be a remarkable deal, considering that the ink has barely dried on a deal earlier this spring in which G City, acquired the final 25% stake from developer ECE Projektmanagement.
- [Jakub Stanislav named Head of Investment Properties for CBRE](https://theprime.cz/news/appointments/jakub-stanislav-named-head-of-investment-properties-for-cbre/) - Jakub Stanislav has taken over as Head of Investment Properties for CBRE’s Prague office. He’ll lead a team of four senior consultants and take responsibility for developing the department’s long-term strategy. A specialist in hotel investments, he’ll now be in charge of transactions involving everything from offices, to logistics centers and shopping malls. Stanislav joined
- [Stefan de Goeij to lead C&W's Sustainability & ESG teams in CEE](https://theprime.cz/smart-development/sustainability/stefan-de-goeij-to-lead-cws-sustainability-esg-teams-in-cee/) - Stefan de Goeij has joined Cushman & Wakefield’s office in Prague as CEE Head of Sustainability & ESG. A longtime proponent of sustainability, de Goeij has over 23 years of real state experience. This includes a decade spent at the region’s largest industrial developer CTP, where he was responsible for the management and sustainability of
- [The inflation plateau](https://theprime.cz/news/cee/the-inflation-plateau/) - Inflation in the Czech Republic dropped to single-digit levels for the first time in June since January 2022. As of May, upwards pressure on price had only fallen to 11.1%, according to the Czech Statistics Office but last month’s number came in at “just” 9.7%. The question is where does inflation go from here? And
- [Ondřej Hubatka (Scott.Weber): Space limitations](https://theprime.cz/news/companies/ondrej-hubatka-scott-weber-space-limitations/) - Your founder set up his first co-working space in Prague in 2009, but requirements have moved on since then…are any of the early ones still open? It hasn’t been a complete overhaul, though we did leave some locations like Budějovicka alej. We don't switch locations every 2-3 years. We keep them as long as they
- [Zuzana Kanalová (VÚB): Resi is coming back, but not commercial RE](https://theprime.cz/news/finance/zuzana-kanalova-vub-resi-is-coming-back-but-not-commercial-re/) - How have you been forced to adjust your lending business over the last 18 months? The changes started during the second half of last year. For example, there was a halt to sales in the residential market. In the 70 or so projects we’re involved in, there were just a dozen sales during the last
- [3Things: New investment at Velis, leases for P3 and CTP](https://theprime.cz/smart-development/proptech/3things-new-investment-at-velis-leases-for-p3-and-ctp/) - P3 Pilsen Myslinka The first phase of'P3 Pilsen Myslinka park is now fully leased, following an agreement for Hall B with auto parts company WM Logistic Nýřany. It will be using the building as an expansion warehouse for its existing facilities in the region. Petra Kroupová (Logistické centrum Nýřany) said the company had considered moving
- [New Inflation Special Podcast!](https://theprime.cz/multimedia/podcasts/new-inflation-special-podcast-mark-robinson-encor-michal-stupavsky-conseq/) - I spoke with Mark Robinson (Encor Wealth Management) & Michal Stupavsky (Conseq) about inflation in the Czech Republic. Is it persistent? Or is it falling fast enough to warrant reducing interest rates? "The base rate of the Czech Republic should be higher," Stupavsky tells ThePrime Pod, considering that inflation was 18% just a few months
- [Accolade buys Karlovarska from Conseq, Mortgages, D line delays?](https://theprime.cz/news/accolade-buys-out-karlovarska-bc-mortgages-tumble-d-line-delays/) - Accolade/Conseq Realitni Accolade has assumed full control of Karlovarská Business Park by buying out the majority shareholding from its previous owner, the Conseq Realitni fund. Located at the intersection of the D6 motorway and the Prague ring road, the property is made up of four buildings with a total of 19,500 sqm. Conseq Realitni and
- [CTP's Nupaky Clubco opens along the D1](https://theprime.cz/sectors/offices/ctps-nupaky-clubco-opens-along-the-d1/) - CTP opened a Clubco co-working center in Nupaky just outside Prague along the D1 motorway. It's calling the 550 sqm center the first of its kind in the Prague East district. The traditional industrial developer built its first Clubco in Brno, where it has extensive holdings, and now sees the potential in other locations. "The
- [Škoda to build VW's last gas-powered engines](https://theprime.cz/news/skoda-to-build-vws-last-gas-powered-engines/) - Volkswagen isn’t scheduled to outline its strategy for the transition to electric vehicles until tomorrow, June 21. But Germany’s business journalists think they know what’s going on, including who will be building what. Škoda will apparently specialize in designing and producing VW's last combustion engines until 2035. That's when the sale of fossil fuel vehicles
- [Marek Bečička (Generali Fond realit): People understand retail & resi](https://theprime.cz/news/marek-becicka-generali-re-fund-cee-people-understand-retail-resi/) - How did your retail fund come about? To begin with, it was a fund for qualified investors with a duration of four years. It functioned as a pilot project which we used to check all the internal procedures. By the end, when we confirmed we were ready, there was interest coming from our distributors and
- [Prague demands priority in sale of Jindřišska post office](https://theprime.cz/news/prague-demands-priority-sale-of-jindrisska-post-office/) - The City of Prague has a real problem with Jindřišska street when it comes to the sell-off of “public” buildings. Last November, the city’s leadership expressed outrage when the Catholic church announced it would be auctioning off the Jindřišska Tower. The church responded that the city could speak with its real estate agent like anyone
- [ViaPharma signs 20-year lease with CTP for 27,000 sqm](https://theprime.cz/news/leases/viapharma-signs-20-year-lease-with-ctp-for-27000-sqm/) - CTP has concluded a 20-year lease deal with ViaPharma for two Czech CTParks. In all, the two building will provide 27,000 sqm of space for the company by the end of 2023. Located in CTPark Ostrava Poruba and CTPark Brno and Líšeň, they’re expected to included specific modifications that are unique for the pharmaceutical industry.
- [New Prague construction permits crash in April](https://theprime.cz/sectors/residential/new-prague-construction-permits-crash-in-april/) - Prague construction offices issued a grand total of 48 flats in new apartment building permits during April. If you do the math, that’s not going to help much in a city that needs 10,000 new flats completed annually. Central Group’s numbers estimate that there are around 140,000 flats in Prague's development pipeline, but on average
- [Michal Hink one of three appointments at DLA Piper](https://theprime.cz/sectors/residential/michal-hink-one-of-three-appointments-at-dla-piper/) - Big news from the real estate legal world as DLA Piper announces its appointment of Michal Hink as Real Estate partner. Hink comes to the position with 20 years of experience, including a stint as managing partner at Dentons and more recently as General Counsel/Head of Legal at Heimstaden. While at Heimstaden he was responsible
- [Jan Šulc (EBM): Rail link to make Kladno a Prague suburb](https://theprime.cz/news/leases/jan-sulc-ebm-rail-link-to-make-kladno-a-prague-suburb/) - “If you buy a flat at the end of the metro out in Zličín, you’re in the middle of the fields,” says Jan Šulc. “In Kladno, you’re in the middle of the biggest city in Central Bohemia that has 70,000 people, schools and shops.” You don’t usually think of Kladno as a suburb of Prague.
- [Tomáš Oplištil (Realia): Rent indexation is working for us](https://theprime.cz/news/real-estate-investment/tomas-oplistil-realia-rent-indexation-is-working-for-us/) - Tell me about Realia’s investment strategy these days. Have you had to adjust to changing conditions? We haven't changed a thing since the beginning. At the beginning we decided we will buy completely occupied retail parks, and have no development in the fund. In practice, that means if we buy a park on Monday, on
- [Logport West project update with David Vais](https://theprime.cz/sectors/industrial-logistics/logport-west-project-update-with-david-vais/) - Construction of Logport West in a suburb of Prague is past the halfway mark, and there’s just 30% of the 45,000 sqm still available to lease. Logport Development director David Vais says the entire project should be fully built and leased by December. Rather than a typical industrial park, Logport West is a combination of
- [Prague takes huge Hlavni nadraží crosswalk decision](https://theprime.cz/urban-planning/prague-takes-huge-hlavni-nadrazi-crosswalk-decision/) - The Magistrála road divides opinions in Prague almost as much as it divides the city. The challenge for planners is how to integrate it into the urban fabric. Ultimately, no solution can be finalized until the outer ring road is completed. Still, plans to build bike lanes and sidewalks are already on the drawing board.
- [REICO sells Rohan Business Centre to Fio Realitní fond](https://theprime.cz/sectors/offices/reico-sells-rohan-business-centre-to-fio-realitni-fond/) - REICO Nemovitostni has sold Rohan Business Centre in Prague in a sale whose reported value was €31.3 million. While lower than the last publicly reported valuation of the property, observers said the profitable sale price came in stronger than expected. The buyer was was Fio Realitní fond, which targets Czech and Slovak real estate assets.
- [Crescon in Roztoky + Logport in Kladno](https://theprime.cz/sectors/industrial-logistics/crescon-in-roztoky-logport-in-kladno/) - Construction is underway at Logport Kladno Poldi, a brownfield industrial scheme that's being built on 15,000 sqm of land. A total of 6,000 sqm is to be built, of which the developer says 1,000 sqm will be offices created through the complete reconstruction of an existing building. Logport Development director David Vais says the project
- [Radka Novak (Cushman & Wakefield): Demand's not the problem](https://theprime.cz/sectors/offices/radka-novak-cushman-wakefield-demands-not-the-problem/) - No new offices have started for the last three quarters. What’s stopping the developers? Is it concern about demand? It's a cocktail of concerns. You can't really say for all developers what's the biggest reason stopping them. We’ve spoken to several about it and we don't hear too often that they'd be so worried about
- [ThePrime Pod: Stuart Jordan (Savills) - It's all about the debt](https://theprime.cz/sectors/offices/theprime-pod-stuart-jordan-savills-its-all-about-the-debt/) - What do you get when you combine falling real estate valuations with higher interest rates and lower LTV in an inflationary environment? You get a commercial property market where big transactions are scarce, and brokers don't know what price to list assets at. “If you combine the cost of equity -- which has to work
- [Q1 Industrial supply surges, unlike demand](https://theprime.cz/news/leases/q1-industrial-supply-surges-unlike-demand/) - Industrial developers have been in a building frenzy over the past couple years, seemingly unable to keep up with demand. But despite vacancy of less than 2%, are signs emerging that they’re finally catching up? You wouldn’t think so if you were just looking at the pipeline. During Q1 this year, developers added 238,000 sqm
- [Fire sales engulfing San Francisco office market](https://theprime.cz/news/fire-sales-engulfing-san-francisco-office-market/) - The California bank SVB collapsed in large part because it was so dependent on the high tech, start-up crowd in Silicon Valley. San Francisco’s office market has the same weak point and the result appears to be a growing firestorm of distressed high rise sales. A few examples, which were compiled by GlobeSt.com: CBRE Investment
- [Hana Pavelková (Renomia): The key to removing transaction risks](https://theprime.cz/news/real-estate-investment/hana-pavelkova-renomia-the-key-to-removing-transaction-risks/) - What’s meant by transaction liability insurance? Warranties & Indemnities, which cover potential breach of the seller’s warranties under the sales and purchase agreements. When there's commercial real estate ready to be sold, you have a seller that would like to maximize his price while minimizing his guarantees for the state of the building. The buyer
- [Mark Robinson (Encor): We're in Year 3 of a 7-year cycle](https://theprime.cz/news/finance/mark-robinson-encor-wealth-management-were-in-year-3-of-a-7-year-cycle/) - Isn't persistently low unemployment going to make it tougher to curb inflation? You're not wrong about that, which is a problem for those who think that interest rates will fall soon. The CEE economies are geographically very well positioned, serving other economies with much higher labor costs. That’s a situation that’s going to exist for
- [Is ČNB about to ease income restrictions on mortgages?](https://theprime.cz/news/is-cnb-about-to-ease-income-restrictions-on-mortgages/) - Central banks the world over are about to take their feet off the gas, when it comes to rate hikes. The Czech National Bank is way ahead of the curve on that account. The last time it raised rates was last July. That proved a body blow for the residential mortgage market, which was 66%
- [JRD teams up with RSJ to sell out Bohadelcke kvarteto](https://theprime.cz/sectors/residential/jrd-teams-up-with-rsj-to-sell-out-bohadelcke-kvarteto/) - JRD Real Estate has not only sold out its residential project Bohadelcke kvarteto in Prague 4’s Michle district but secured its occupational permit. It developed the energy efficient project in cooperation with the investor RSJ Investments. The L-shaped structure features four glass-enclosed towers with 183 units along with five retail units. Environmentally friend materials and
- [Savills: Prague office yields still too low](https://theprime.cz/news/real-estate-investment/savills-prague-office-yields-too-low/) - According to current market pricing, yields on prime European offices have risen, but there's a good deal of variation between the 23 individual markets Savills surveyed recently. In Q1 2023 alone, it calculates a 19 bps increase, led by Amsterdam (+40 bps), Frankfurt (+40 bps) and Berlin (+30 bps). On an annualized basis, yields jumped
- [Annualized CPI growth drops 2.3 pct points](https://theprime.cz/news/annualized-cpi-growth-drops-2-3/) - The inflation wave isn’t behind us, but at least it’s coming down out of the stratosphere. New numbers from the Czech Statistics Office put April’s y-o-y price increases at “just” 12.7%, a full 2.3 percentage points lower than it reported in March. (That's a 20% decline, according to Chat GPT). The biggest climbdown in the
- [3Things: Passerinvest's 7.6% bond, ČNB sticks with 7%, and the new WorkLounge](https://theprime.cz/news/companies/3things-passerinvests-7-6-bond-cnb-sticks-a-7-and-the-new-worklounge/) - Passerinvest Group announced that it has completed a CZK 750 million bond issue that carries a coupon rate of 7.6%, with quarterly payment scheduled. The bond issue will last 5 years. "Thanks to this successful issuance, we've remained active on the koruna public bond market, having completely paid back the previous CZK 2 billion bond
- [Andrew Peirson (iO Partners): "It's business as usual" following agreement with JLL](https://theprime.cz/news/companies/andrew-peirson-io-partners-its-business-as-usual-following-agreement-with-jll/) - iO Partners has concluded an agreement with JLL to set up a partnership agreement in the Czech Republic, Hungary, Romania and Slovakia. The move was supported by the current MD’s in those countries, who become shareholders, and by Michael Stanton, a US-based real estate private equity fund manager and the founder of iO Partners. In
- [Prague office occupancy jumps 42%](https://theprime.cz/sectors/offices/prague-office-occupancy-jumps-16/) - Office vacancy figures have been rising across Europe, but ultimately, physical occupancy rates – the percentage of employees who show up each day – will determine how things pan out. It’s no good taking shiny new offices and paying top dollar for them if no one’s going to show up. Whether it’s managerial incompetence or
- [Dataligence calculates number of Czech investment flats](https://theprime.cz/news/leases/dataligence-calculates-number-of-czech-investment-flats/) - There are 223,000 investment flats in the Czech Republic owned by roughly 71,000 owners, according to Dataligence. In a study for the Association for Rental Residential, the research group found that most of them are located in Prague and in the region of Central Bohemia. Using the Czech land registry, Dataligence director Milan Roček said
- [Penta tops out Motel One's new Prague hotel: Cloud One](https://theprime.cz/sectors/retail/penta-tops-out-motel-ones-new-prague-hotel-cloud-one/) - Penta Real Estate topped out the construction of the hotel it’s building on Hybernska street along the southwest corner of the Masaryk train station in central Prague. Motel One will operate the hotel under its new Cloud One line, with the opening expected in spring of 2024. Designed by he CZK 1.2 billion investment has
- [3Things: Skanska's Port7, CTP's green steel, interest rates to fall?](https://theprime.cz/sectors/offices/3things-skanskas-port7-ctp-green-steel-interest-rates-to-fall/) - Skanska’s Port7 project is now 50% leased, following the signing of a lease with international auditing and tax consultancy Mazars. The company signed up for 2,900 sqm of space on the top floor of the project, along with 16 parking space. It plans to move into its new offices at the beginning of 2024. Skanska
- [David Greenbaum (CPI): We'll cut LTV and grow rents in 2023](https://theprime.cz/news/companies/david-greenbaum-cpi-cut-ltv-and-grow-rents-in-2023/) - According to its most recently published results, CPI Property Group’s total assets stood at €23.5 billion as of the end of 2022, with a property portfolio of €20.9 billion with contracted rent of €906 million. A full 48% of the portfolio is made up of office properties, with retail responsible for another 23%. Speaking on
- [€20 million Pilsner Urquell Experience opens Saturday in Prague](https://theprime.cz/sectors/retail/e20-million-pilsner-urquell-experience-opens-saturday-in-prague/) - Pilsner Urquell: The Original Beer Experience is opening April 22 weekend at the bottom of Wenceslas Square. It’s the culmination of two years of work and a €20 million investment by the project’s partners, who include Robert Neale and Nick Penny. Eventually, they project that the Pilsner experience could attract between 400,000 and 500,000 visitors
- [Pavel Sovička (Panattoni): Stop blaming sheds for flooding!](https://theprime.cz/news/pavel-sovicka-panattoni-stop-blaming-sheds-for-flooding/) - There’s a push to ban the sale of high-quality agricultural land for use by logistics projects. One of the justifications highlighted by a report on Czech Television was that such projects lead to flooding. The report naturally included shots of homes and cars underwater. If you watch that report, there was no industrial zone next
- [Česká spořitelna & Finep launch affordable housing program](https://theprime.cz/sectors/residential/ceska-sporitelna-finep-launch-affordable-housing-program/) - Česká spořitelna and Finep are working together to build affordable rental housing for health workers at the Prague hospital in Motol. The project is spearheaded by a newly formed company called Dostupné bydlení Česká spořitelna (Affordable Housing Česká spořitelna) whose goal it is to build around 1000 flats by the year 2026. Its chairman Marek
- [3Things: CPI revaluations, LaRue to FH+, and 4-day weeks](https://theprime.cz/news/companies/3things-cpi-revaluations-larue-to-fh-and-4-day-weeks/) - CPI Property Group’s property portfolio reached €20.9 billion (versus €13.1 billion at year-end 2021) as the Group consolidated IMMOFINANZ (€5.3 billion) and S IMMO (€3.4 billion). It also made nearly €900 million in disposals during 2022, with a further €400m signed off on during Q1 2023. At the moment, 48% of CPIG’s portfolio is made
- [Brno office: Low rents, high vacancy](https://theprime.cz/news/brno-office-low-rents-high-vacancy/) - At €16.50/sqm/month, top rents in Brno are a full €10 lower than they are in Prague, but vacancy levels are nearly double those in the capital (13.4%). Worryingly, as of QIV 2022, there were nearly 70,000 sqm of new space under construction, but just 6.5% of it had been pre-leased. "For this market, it will
- [No door slamming, as Ostrava's mayor exits](https://theprime.cz/urban-planning/no-door-slamming-as-ostrava-mayor-exits/) - Ostrava’s mayor Tomáš Macura announced his resignation in the aftermath of the elections for the Czech presidency. He’d become a controversial figure within his party (ANO) because he refused to endorse Andrej Babiš and voted for the new president. So, I was a bit surprised to see him at MIPIM and asked him to explain
- [ZDR snaps up 9,000 sqm Topoľčany retail park](https://theprime.cz/news/real-estate-investment/zdr-snaps-up-9000-sqm-topolcany-retail-park/) - ZDR Investments has added a new real estate asset to its portfolio through the acquisition of a retail park in Topoľčany, Slovakia. The group now owns 64 properties with a value of more than €516 million. The 9,000 sqm park is occupied by tenants such as Billa, JYSK, Intersport, Planeo Elektro, Gate, dm drogerie, Pepco
- [Manfred Wiltschnigg (GalCap): We will be buyers](https://theprime.cz/sectors/offices/manfred-wiltschnigg-galcap-we-will-be-buyers/) - There were expectations for 2022 that deals would start, so what happened in the end? For us 2022 was one of the best years ever for our company in a commercial sense, meaning in turnover, fees collected and in the square meters we managed to acquire. But of course, at the beginning of 2022 we
- [CB Property Investors acquires Liberec industrial park project](https://theprime.cz/sectors/industrial-logistics/cb-property-investors-acquires-liberec-industrial-park-projec/) - CB Property Investors has added an 39,000 sqm industrial park in Liberec to its portfolio, following a transaction completed recently. The deal brings the fund’s assets under management to roughly CZK 1.8 billion. The deal came about when the project’s owner had decided that rising prices for construction materials and labor made it prudent to
- [Alexandra Tomášková (JRD): We've adjusted expectations for a healthier market](https://theprime.cz/news/companies/alexandra-tomaskova-jrd-adjust-expectations-for-a-healthier-market/) - Has JRD adjusted to the new conditions on the residential market? We have four projects that are currently running. In some cases, we needed to provide some incentives to customers. But I don't want to make it sound to dramatic because we're seeing something of a revival in the market. People have adjusted to the
- [Martin Šramko (Immocap): I see no reason to stop building offices](https://theprime.cz/sectors/offices/sramko-immocap-i-see-no-reason-to-stop-building-offices/) - Hot on the heels of its successful completion and leasing of Lakeside Park II, Immocap racing to complete another office project, The Mill. The developer pre-leased 60% of the 25,000 sqm project even before construction began last year. Today, says director Martin Šramko, he has commitments for more than 80% of the space. For all
- [3Things: CPI's Berlin sell-off, UDI in Warsaw, and Crescon's mountain resort](https://theprime.cz/news/3things-cpis-berlin-sell-off-udi-in-warsaw-and-crescons-mountain-resort/) - Crescon has competed 64 apartments in its luxury project Aldrov Apartments & Resort. Clients are currently taking over their apartments, even as work proceeds on the 75 units in the second phase, which is scheduled for completion by the end of the year. Such is the continued level of demand for such properties, says Crescon
- [Martin Novak: Only real estate funds rose in February](https://theprime.cz/news/real-estate-investment/martin-novak-only-real-estate-fund-values-rose-in-february/) - Of all the sectors covered by Broker Consulting’s mutual fund indexes, only real estate showed any growth in February. “Developments on the markets were influenced primarily by macroeconomic data, which was mixed in character,” says the company’s chief analyst Martin Novak. “On the one hand, the reduced risk of a recession in the USA improved
- [Karimpol's Squarebizz Bory now 75% leased](https://theprime.cz/sectors/industrial-logistics/karimpol-squarebizz-bory-now-75-leased/) - Having opened and completed leasing on the first phase of its 30,000 sqm commercial park Squarebizz Bory, Karimpol is now close to 75% leased on the second phase. Tenants who have already moved in include Alpod, Cortelazzi, Ekosklad, ExpresPrint, Fitham, Inipex, Kellys Bicycles, TȔV-SȔD, Valivé ložiská and Virtuplex. Project manager Peter Šmitala (Karimpol) says the
- [Peter Píš (JTRE): Focus is shifting in Bratislava from office to resi](https://theprime.cz/sectors/offices/peter-pis-jtre-focus-is-shifting-from-office-to-resi/) - Your first new office building at Eurovea is 80% leased or under offer, and the second is somewhere between 30% and full. What does that tell you about Bratislava’s office market? It depends how you look at it. From the development perspective, the pipeline for office space will shrink because residential works better than for
- [3Things: AFI City tops out, Microsoft data center, REICO sells Office Box](https://theprime.cz/news/3thing-afi-tops-microsoft-reico-office-box/) - AFI Europe has topped out the second apartment building in AFI City, a brownfield project on Kolbenova street in Prague 9 – Vysočany. Metrostav is in charge of construction of the 327-unit building which the developer will rent out once completed. Work on the first apartment building in AFI City was completed at the end
- [Nathan Pegel (JLL): It's time to get creative with debt structures](https://theprime.cz/news/finance/nathan-pegel-jll-its-time-to-get-creative-with-debt-structures/) - Your position “Corporate Finance Director” for CEE is a new one at JLL. I assume it’s connected with these disruptively high interest rates? JLL created position this position for CEE because rising yields are going to make things harder for capital markets. Clients are not ready to accept the change in market prices. Sellers still
- [Central Group tried cutting prices on 50 flats...](https://theprime.cz/news/central-group-tried-cutting-prices-on-50-flats/) - As an experiment, Central Group put 50 flats in its project at Harfa on the market for around CZK 100,000 per square meter, or roughly 25% below the usual price for the area. The result was less-than-surprising: they sold out in a matter of hours. “It was an experiment we wanted to try in order
- [Logicor buys 100,000 sqm brownfield](https://theprime.cz/sectors/industrial-logistics/logicor-buys-brownfield/) - Logicor has acquired a 100,000 sqm brownfield site near Turnov, which intends to redevelop into a modern industrial project. The deal effectively doubles its footprint in the Czech Republic. Director Pavel Rufert said the project is located strategically at a crossroad linking the regional cities Mlada Boleslav, Liberec and Jicin. It also has direct access
- [AFI Europe's new projects, Biedronka opening in Slovakia](https://theprime.cz/news/afi-europe-new-projects-biedronka-opening-in-slovakia/) - The residential developer AFI Europe will put two rental projects on the market in May. With sale prices for flats quickly rising beyond the point of affordability, the company made a strategic decision over a year ago to focus solely on rental schemes. The first of the projects is AFI Home Karlin located on the
- [Brno seeks strategic partner for Špitalka district](https://theprime.cz/urban-planning/brno-seeks-strategic-partner-for-spitalka-district/) - Having started its search for a strategic investor for the Špitalka district, the city of Brno decided to put the brownfield project on the world stage at MIPIM. It's taken six years, but the city now has a master zoning plan for the 24.5 ha zone, along with a detailed master plan for a small
- [Chris Zeuner (7R): Over-pricing went further in Western Europe](https://theprime.cz/news/real-estate-investment/chris-zeuner-7r-over-pricing-went-further-in-western-europe/) - Pre-MIPIM, what would you have said was likely to happen with interest rates? I would have said they're going to continue increasing. So, you think the fall of banks like SVB and Credit Suisse could scare central banks into being more cautious? There could be a reluctance from central banks to raise them as much,
- [JLL: Flex office space in Prague tops 100,000 sqm](https://theprime.cz/news/jll-flex-office-space-in-prague-tops-100000-sqm/) - The supply of flexible offices in the Czech Republic stands currently stands at 133,000 sqm and is forecast to continue growing through at least 2024. In its newest study, JLL writes that larger corporations make up many of the new clients, providing serious rental income to operators (since they sign longer leases and need large
- [Logicor strengthens Czech team](https://theprime.cz/news/logicor-strengthens-czech-team/) - Having set up the company's permanent office in Prague, Pavel Rufert has been promoted to Director of Logicor Czech Republic. He’ll be responsible for strengthening Logicor’s market presence with land acquisitions and new project development. But in response to increasing activity in the market, the company is now growing the Czech team as well with
- [Rufert: Logicor looking for sites across the country](https://theprime.cz/news/companies/rufert-logicor-looking-for-sites-across-the-country/) - Pavel Rufert is Senior Asset & Development Manager for Logicor in the Czech Republic Logicor isn't starting from zero in the Czech Republic, but I assume you haven't been hired just to oversee and manage your current holdings. We own, manage and develop high quality logistics assets across Europe, addressing the real estate needs of
- [CTP acquires Ostrava industrial project from Bluehouse Capital](https://theprime.cz/news/real-estate-investment/ctp-acquire-ostrava-industrial-project-from-bluehouse-capital/) - CTP has acquired a 330,000 sqm brownfield site in the Ostrava – Hrušov district from the developer Bluehouse Capital, including a newly built 18,000 sqm warehouse building. The former chemical plant will eventually have a built capacity of 94,000 sqm. Tenants in the first building are Prosperplast, Hyundai Steel and the logistics company LogFlex. “Our
- [Brno office vacancy to rise in 2023, says C&W's Lukáš Netolický](https://theprime.cz/news/leases/brno-office-vacancy-to-rise-in-2023-says-cws-lukas-netolicky/) - These are uneasy times for office developers in Brno. Not that it’s easy for developers in any city, post-pandemic, but the robust growth the office sector once enjoyed thanks to new high-tech investments has slowed in recent years. Lukas Netolicky, Cushman & Wakefield’s Head of Regional Cities in the Czech Republic, says there’s little doubt
- [Lenka Kostrounová: ESG is where we see the future](https://theprime.cz/news/finance/lenka-kostrounova-esg-is-where-we-see-the-future/) - Do you see this moment as a major inflection moment? I mean for the economy and for the assumptions we make about running a business? A lot of things have changed since we last spoke. But thanks to the experience in the last crisis in 2008/2009, we feel more confident this time. I don't think
- [Ostrava Tower(s) redesign, Prague flat sales crash 58%](https://theprime.cz/sectors/offices/ostrava-towers-redesign-prague-flat-sales-crash-58/) - It's back to the drawing board for the investor RT Torax, whose project Ostrava Tower raised eyebrows and the hopes of skyscraper fans across the country. RT’s spokesman Jindřich Vaněk says the company still wants to build a highrise, but may have to reduce its ambitions from 230 meters to something over 100 meters. Negotiations
- [Ostrava mayor Tomáš Macura resigns after nearly 9 years](https://theprime.cz/news/ostrava-mayor-tomas-macura-resigns-after-nearly-9-years/) - Ostrava’s mayor Tomáš Macura has resigned after 8 years at the post after deciding to leave the ANO political party. He didn’t go into the specifics of his decision, but said the party had changed in recent times in ways he felt powerless to influence. It seems likely however that the failed presidential campaign by
- [Demaco adds Martin Černý to growing team](https://theprime.cz/projects/demaco-adds-martin-cerny-to-growing-team/) - The boutique industrial developer demaco handed over a 12,500 sqm production facility to the automobile interiors supplier Eurostyle Systems and the investor Urbanity in Tachov. Partner Jaroslav Kaizr says his company acted as construction manager in this particular project. Demaco teamed up with Urbanity, which controlled and was investing in the Tachov site. “We didn’t
- [Juraj Fuska to join CMS in Bratislava as Partner](https://theprime.cz/sectors/offices/juraj-fuska-to-join-cms-in-bratislava-as-partner/) - The international law firm CMS has closed a deal with Juraj Fuska that will see him become a partner in Bratislava. Earlier this year, Fuska had set up his own practice called Aldertree after spending a decade at White & Case. But his availability attracted the attention of CMS, which is making a concerted effort
- [Jan Palek (GLP): Construction prices are setting industrial rents](https://theprime.cz/sectors/industrial-logistics/jan-palek-glp-construction-prices-are-setting-industrial-rents/) - Since the big changes at GLP took place, you’ve been able to go after a wider range of properties. How has that been working? What are you finding in the market and have your aims shifted? It's fair to say that a lot has change in the market and so have we. In Ostrava, we’re
- [3Things: From TVs to heat pumps in Pilsen, Primark in Brno, D0 thru D0lni Chabry](https://theprime.cz/news/companies/3things-from-tvs-to-heat-pumps-in-pilsen-primark-in-brno-d0-thru-d0lni-chabry/) - Primark is scheduled to open its second store in Olympia Brno on Sept. 14, roughly a year after opening its first on Wenceslas Square in Prague. Sales director Maciej Podwojski says Czech shoppers welcomed the shop’s arrival, giving the Irish retailer the confidence it needed to hire 190 new employees. It’s to be the company’s
- [Investments slow until at least H2, warns Savills](https://theprime.cz/news/investments-slow-until-at-least-h2-warns-savills/) - Capital value increases during 2023 will be minimal according to a new Savills report, which sees few prospects for rental growth. And while there’s a chance for a return in investment activity, we’ll have to wait until the second half of the year for it. That’s assuming that the economic outlook improves, since it could
- [Trigea buys Panattoni Tricity North](https://theprime.cz/news/real-estate-investment/trigea-buys-panattoni-tricity-north/) - The Czech real estate fund Trigea has acquired Panattoni Tricity North, a 46,000 sqm logistics park in the northern Polish port town of Gdynia. Panattoni CEO Robert Dobrzycki said it was the facility’s access to the sea (along with continuing attractiveness of Polish assets) that made it attractive to investors. Given the fact that Panattoni
- [Prokop Svoboda: Premium rents soared in H2 2022](https://theprime.cz/news/leases/prokop-svoboda-premium-rents-soared-in-h2-2022/) - The residential market may be hitting the skids, but the premium portion of the market is displaying a fair degree of immunity to the downturn. In its report on premium residential properties for the second-half of 2022, Svoboda & Williams claims that despite a 32% y-o-y drop in demand from July to December, sale prices
- [Passerinvest buys Gamma, mortgage rates hit ceiling, and JRD](https://theprime.cz/sectors/offices/3things-passerinvest-buys-gamma-mortgage-rates-hit-ceiling-and-jrd/) - Passerinvest has acquired the Gamma office building in Prague 4 from the Austrian real estate company Immofinanz. It’s another milestone in the Czech developer’s long-term campaign to buy back the buildings it built for the Brumlovka office park beginning 20 years ago. Beginning in 2014, Passerinvest has bought back the Alpha and Beta buildings along
- [Crestyl threatens legal action against Mucha Plocková over Slav Epic](https://theprime.cz/news/crestyl-threatens-legal-action-against-mucha-plockova-over-slav-epic/) - Crestyl has rejected in the strongest terms accusations by an opponent of one of its projects that it’s cooperating with sanctioned members of the Russian oligarchy. “Their goal is clearly to damage Crestyl and in our opinion to block the construction of an exposition of the Slav Epic by Alphonse Mucha in the Savarin project.”
- [LaSalle Investment Management launches 100Yards on Na Příkopě](https://theprime.cz/sectors/offices/lasalle-investment-management-launches-100yards-of-retail-and-offices-on-na-prikope/) - LaSalle Investment Management launched its 100Yards project on Na Přikopě in downtown Prague. When it completes in mid-2024, the mixed-used scheme will add 3,500 sqm of renovated office space along with 3,600 sqm of retail. But the significance of the project lies less in those numbers than in the fact that that it will create
- [Stefan de Goeij returns to CTP with ESG focus](https://theprime.cz/sectors/industrial-logistics/stefan-de-goeij-returns-to-ctp-with-esg-focus/) - Stefan de Goeij has returned to CTP after a two-year stint at Avison Young’s Prague office. Prior to leaving CTP in 2021, de Goeij spent a decade at the company as its Group Head of Property Management and Group Sustainability Officer. This time, it’s the sustainability angle that’s brought him back into the fold and
- [3Things: Alexandra Tomášková CEO of JRD Development, CZ construction down, EU rates up](https://theprime.cz/sectors/residential/3things-alexandra-tomaskova-ceo-of-jrd-development-cz-construction-down-eu-rates-up/) - As of September, JRD Development’s new CEO is Alexandra Tomášková, who is already CEO of JRD Land. The previous CEO Martin Svoboda will continue in the leadership team of JRD Group. Tomášková worked previously at Red Group and JLL in Prague and for many years at Skanska Property Czech Republic. “The two divisions – JRD
- [Iain Fanthorpe (Bluehouse): Rent indexation can't be up for negotiation](https://theprime.cz/news/iain-fanthorpe-bluehouse-rent-indexation-cant-be-up-for-negotiation/) - What’s the biggest sticking point at the moment when you’re negotiating with tenants? Historically the discussions with new tenants focused on more the primary elements: rent, lease terms, fit out contribution, rent free periods, whereas items such as indexation were just taken for granted. But now there's a huge focus on short-term cost savings, of
- [3Things: 2022's most expensive flats, Iwanowski joins REassurance, Mall Group](https://theprime.cz/sectors/residential/3things-2022s-most-expensive-flats-iwanowski-joins-reassurance-mall-group/) - It’s January, which means it’s time for the Top 10 lists to start appearing. SeznamZpravy kicks things off with an interesting look at the most expensive flats that were sold in 2022. Using data taken from the land registry, the real estate portal found valuo.cz found that all ten of the most expensive apartments sold
- [Eurovea Tower now qualifies as a skyscraper](https://theprime.cz/sectors/residential/eurovea-tower-now-qualifies-as-a-skyscraper/) - Even if construction no new floors were added to J&T Real Estate’s Eurovea Tower, it would still qualify officially as a skyscraper now qualifies. In CEE, the word skyscraper is often used for any highrise building that seems tall compared to its surroundings. But the actual definition of the term refers to structures of at
- [Luxent targets Croatian market for its Czech clientele](https://theprime.cz/news/companies/luxent-croatia-czech-clients/) - Croatia joined the Eurozone on January 1, and the timing could hardly be better for the real estate agency Luxent – Exclusive Properties. In December, the Prague-based company announced it would be representing buyers as well as sellers in Croatia. Veronika Pecková, who’s travelled to Croatia regularly since she was a child, will be leading
- [3Things: Savills and Avison Young appointments, JRD launches](https://theprime.cz/sectors/residential/3things-savills-and-avison-young-appointments-jrd-launches/) - JRD has launched a new residential project near Plzeň where it’s preparing 57 construction parcels for family homes. The developer is cooperating with Vexta, which has designed a variety of sizes and layouts which will be offered along with the plots. Plot sizes begin at 600 sqm. Work on the infrastructure (including rainwater management piping
- [Secondary resi prices falling faster than expected](https://theprime.cz/sectors/residential/secondary-resi-prices-falling-faster-than-expected/) - Prices of flats in the Czech Republic peaked on a quarterly basis at CZK 79,000 per square meter at the beginning of Q2 2022 – and they’ve been falling ever since. As of Q4, they’d dropped 19% to CZK 64,000 / sqm. The numbers are those of Iztok Toplak, whose raw data comes from reservation
- [CPI transfers 53 retail parks to Immofinanz](https://theprime.cz/news/companies/cpi-transfers-53-retail-parks-to-immofinanz/) - CPI Property Group has transferred a portfolio of 53 retail parks to the property company Immofinanz, which it took over last year. The transaction was valued at €324.2 million, but it's less of a sale than it is part of the reorganization of CPI, following its successful takeover of Immofinanz and S-Immo. Thirty of the
- [Prague drifting rudderless after September elections](https://theprime.cz/news/prague-drifting-rudderless-after-september-elections/) - Prague is the last city in the country not to have elected its mayor and city council for the next four years following the elections last October. I’ll make this quick: The Pirate party has just 13 of the 65 seats in the city assembly. That’s the same as last time around, when it was
- [IBF announces 7th annual Real Estate seminar for Oct. 12](https://theprime.cz/news/ibf-announced-7th-annual-real-estate-seminar-on-oct-12/) - The IBF has released the schedule for its upcoming real estate seminar, which takes place on Wednesday, Oct 12 at the KPMG’s Prague office. It’s the seventh edition of the annual event, which will cover a range of topics. Speakers will include Pavel Kliment (KPMG) with a general economic overview, Peter Visnovsky (LEXXUS), Jan Adamek
- [Invesco completes forward purchase deal for Logport Prague West](https://theprime.cz/news/real-estate-investment/invesco-completes-forward-purchase-deal-for-logport-prague-west/) - Invesco RE and Logport Development have concluded a forward purchase agreement on Logport Prague West, a strategically located last-mile logistics facility. Together, they will develop the 37,900 sqm facility whose construction kicked off in September. The first tenants of the park have already committed to the scheme, which is located along the Prague ring road.
- [Organica tops out in Ostrava, Brno office demand set to rise](https://theprime.cz/news/organica-tops-out-in-ostrava-brno-office-demand-set-to-rise/) - Ostrava’s new landmark office building Organica has topped out next to the Nová Karolina shopping center. The developer Contera introduced the project to the public in 2021, having engaged Schindler Seko Architects to complete the design. Tietoevery is the anchor tenant, but other companies like Individual Fitness and COKAFE have also signed deals. The building
- [3Things: Chan(P3), Kilik (JLL), Kratina (Accolade)](https://theprime.cz/sectors/industrial-logistics/3things-chanp3-kilik-jll-kratina-accolade/) - Nichole Chan has been named Head of ESG for P3 Logistic Park. The company says the appointment underscores its commitment to sustainability at all levels of operations as well as to a socially aware future. Chan worked previously as the head manager for ESG at Mileway, where she helped create that company’s program for improving
- [Viktoria Hartke (OBO, U.S. State Dept): Building new European partnerships](https://theprime.cz/smart-development/proptech/viktoria-hartke-obo-u-s-state-dept-building-new-european-partnerships/) - Victoria Hartke is Managing Director for Planning and Real Estate at The Bureau of Overseas Buildings Operations (OBO), which is a division of the U.S. State Department. I met her in Washington D.C. because the United States is planning to build new embassies in Bratislava, Tallinn and Brussels. It turns out, she's interested in working
- [Jaroslav Mida (Mint Investments): Maturing loans will drive repricing](https://theprime.cz/news/finance/jaroslav-mida-mint-investments-maturing-loans-will-drive-repricing/) - Why did Mint decide to go for the GRESB rating? There had been a lot of talk about the importance of complying with ESG environmental standards, so we started to develop our knowledge about the topic. We approached Steffen Walvius at JLL and had some discussions with him, but the important thing was speaking with
- [3Things: Church selling Clara Futura hotel, Crestyl in Vokovice, spec office](https://theprime.cz/sectors/residential/3things-church-selling-clara-futura-hotel-crestyl-in-vokovice-spec-office/) - Crestyl has reached an agreement with local officials in Vokovice – Prague 6 that will allow it to build a new residential complex in the former Aritma area. In return for permiting construction to go ahead, the developer will contribute funds for the construction of a nursery school and for smart transport solutions all over
- [3Things: The CZ logistics juggernaut, CTP in Hr. Kralové, and Prague's (likely) new mayor](https://theprime.cz/news/3things-the-logistics-juggernaut-ctp-in-hr-kralove-and-pragues-likely-new-mayor/) - CBRE assembled its findings for the first half of 2022 into a single report, that leads off with the conclusion that the logistics is still running the show. It’s not a bad shout, considering the sudden collapse in demand for residential space (see high mortgage rates) and the jittery office sector. The real estate’s research
- [CEE scores big in global manufacturing destination rankings](https://theprime.cz/news/cee-scores-big-in-global-manufacturing-destination-rankings/) - CEE came bounding closer to the front of the line in Cushman & Wakefield’s Global Manufacturing Risk Index 2022. Slovakia surged ahead from 26th to 12th position, right behind Hungary which improved to 11th. Poland moved up from 10th to 6th place, leapfrogging the Czechs who slipped to 8th position (from 5th). “Judging by their
- [Has inflation peaked? CNB leaves rates at 7%](https://theprime.cz/news/finance/has-inflation-peaked-cnb-leaves-rates-at-7/) - The Czech National Bank made news again by doing nothing yesterday. Beginning in June 2021 (when interest rates were 0.25%), it raised the interest rate each time the bank’s council met to discuss the issue. The 2-week repo rate reached 7% after the council’s June meeting, but there have been no increases since then. “A
- [Filip Žoldák (HERRYS): Resi prices & demand sagging in Bratislava](https://theprime.cz/sectors/residential/filip-zoldak-herrys-resi-prices-demand-sagging-in-bratislava/) - Bratislava apartment sales have stagnated since Q2 this year, says Filip Žoldák, director of the real estate agency Herrys. Sagging prices mirror the slowdown in demand from consumers worried by the rapid rise in prices in everything from food to energy. The number of flats sold in Q3 was 40% down from a year before,
- [Prague City University to open Pragovka campus in E Factory](https://theprime.cz/urban-planning/prague-city-university-to-open-pragovka-campus-in-e-factory/) - Prague City University (PCU) has signed leases that will make it one of the anchor tenants of the E Factory building in Pragovka, one of the brownfield projects that's transforming the Vysočany district of Prague 9. It's part of a multi-campus strategy by the school that will allow it to upgrade its space in terms
- [Project news: AFIHOME Karlin & Zeitgeist's Paláce Dunaj](https://theprime.cz/sectors/offices/project-news-afihome-karlin-zeitgeists-palace-dunaj/) - AFI Europe has secured the occupancy permit for AFIHome Karlin, its second Czech rental residential project located on the corner of Thámova and Pernerova. It involved the reconstruction of two buildings that dates back to the beginning of the 20th century and the construction of a new 10-storey structure. The upper floors are dedicated solely
- [David Yearn (REassurance): Deals could be slow until MIPIM](https://theprime.cz/news/appointments/david-yearn-reassurance-deals-slow-until-mipim/) - What’s your remit at REassurance? As managing director, it’s perhaps to move away from some of the day-to-day stuff that I was doing previously and to take a bit more of a strategic approach. The impetus behind REassurance was really that the whole insurance transactional risk landscape has changed and become a bit more sophisticated.
- [Jonathan Cohen (Colliers): Payback on solar now under 4 years](https://theprime.cz/sectors/offices/jonathan-cohen-colliers-payback-on-solar-now-under-4-years/) - Who are you targeting with your photovoltaics business line? It can be clients who have a building and want to know the possibility of installing photovoltaics on the roof. It could also be for a free land plot adjacent to the building, or photovoltaics (PV) over the parking area. We’ll do an analysis, and then
- [3Things: Industrial supply dries up, office yields soften & Ronald van der Waals](https://theprime.cz/news/real-estate-investment/3things-industrial-supply-dries-up-office-yields-soften-ronald-van-der-waals/) - Vacancy fell below 1% for the first time ever on the Czech industrial sector in the third quarter of 2022. Colliers reports this was despite a bumper crop of new completions. Developers finished off a total of 18 new buildings during the period, adding 511,100 sqm to the stock of modern industrial space. The Czech
- [Reindl acquires rights to 'On Top Living' from Immofinanz](https://theprime.cz/sectors/residential/reindl-acquires-rights-to-on-top-living-from-immofinanz/) - Dietmar Reindl has acquired from Immofinanz co-ownership of On Top Living, an affordable and sustainable concept for adding modular wooden superstructures to existing, single-storey buildings. Reindl, a former executive board member at Immofinanz and was heavily involved in the development of the concept. He presented it not only at MIPIM, but at a World Climate
- [Jan Kotrbáček: Covid’s retail legacy is adaptation and opportunities](https://theprime.cz/sectors/retail/jan-kotrbacek-covids-retail-legacy-is-adaptation-and-opportunities/) - In very broad terms the pandemic’s impact on the Czech retail market wasn’t a great deal different than any other crisis. -it punished weaker stores and brands (thereby creating new opportunities), -rewarded strong, pro-active management -forced adaptations -and it improved the overall quality of the retail environment But that’s just the view from 10,000 meters.
- [Czech Television: Planned ban threatens new industrial projects](https://theprime.cz/news/czech-television-planned-ban-threatens-new-industrial-projects/) - The Czech Ministry of Environment is pushing to ban the use of high-quality agricultural land for the construction of huge logistics and shopping centers or even for solar power plants. Czech Television ran a story in last night's news that said an important reason for the ban is the country's struggles both with droughts and
- [ThePrime Real Estate Gala: Winning -- and giving back](https://theprime.cz/news/theprime-real-estate-gala-winning-and-giving-back/) - ThePrime Real Estate Gala certainly started off with a bang, attracting nearly 360 guests to Žofín Palace on February 15. Right from the welcome drink, there was a great deal of surprise at the size and the quality of people in attendance right from the beginning, as people who hadn’t seen each other in years
- [Sold out! Palac Žofin will be full on Wednesday](https://theprime.cz/news/sold-out-palac-zofin-will-be-full-on-wednesday/) - Palac Zofin is sold out for ThePrime Real Estate Gala on Wednesday! The question I kept getting from people before they took tickets was who else was coming along. I can’t give you a complete answer to that yet, because some companies haven’t sent in their guest lists yet to gala@theprime.cz (please do this!). But
- [ThePrime Real Estate Gala: Meet the Jury!](https://theprime.cz/news/theprime-real-estate-gala-meet-the-jury/) - Things are coming together quite quickly now for ThePrime Real Estate Gala on Feb. 15. The Jury for the Awards portion of the evening met this week for a long session of discussions that ended with dinner at the Aroma restaurant in central Prague. The Jury list is located at the end of this post.
- [Julius Meinl VI: We're filling the hotel market's flexibility gap](https://theprime.cz/prague/julius-meinl-vi-were-filling-the-hotel-markets-flexibility-gap/) - Your company's goal is to build a network of European premier hotels. Are you equally open to all major cities in Europe, or are you targeting some of them with greater urgency? We are initially focused on key locations in Central Europe, which is home to the House of Julius Meinl, but are looking to
- [Church puts Jindřišska Tower on sale for CZK 75 million](https://theprime.cz/news/church-puts-jindrisska-tower-on-sale-for-czk-75-million/) - The real estate market is so slow at the moment that even residential sales are dragging out. But the Prague archbishopric has decided now was the right time to cash in on the Jindřišska Tower located on the street it’s named for. The church expects to bring in CZK 75 million for the property, which
- [Jozef Recska: Property management is about quality relationships](https://theprime.cz/sectors/retail/jozef-recska-property-management-is-about-quality-relationships/) - In October, Jozef Recska joined Cushman & Wakefield as Head of Asset Services in Slovakia where he’ll be leading the company’s team in Bratislava and in the Novum shopping center. Recska comes to the job with a rich professional history. He began at Tesco Stores, where he oversaw the company’s department stores but eventually assumed
- [Urbanity Campus Tachov awarded BREEAM Communities](https://theprime.cz/news/urbanity-campus-tachov-awarded-breeam-communities/) - Urbanity Campus Tachov has received a BREEAM Communities certification, something the developer’s co-founder Roland Hofman claims is a Czech first. Not only has no other urban district earned the rating, but Hofman said it’s the first such certified project anywhere in the world dominated by manufacturing. Fulfilling the requirements for the BREEAM Communities interim certification
- [Iztok Toplak: Residential prices are falling](https://theprime.cz/sectors/residential/iztok-toplak-residential-prices-are-falling/) - Czech residential prices never fall, goes the saying. At least not in Prague. Not so fast, says Iztok Toplak. He argues that’s exactly what’s happening in the last quarter of 2022: overall by 7% (q-o-q) in Prague and by 9% outside the capital. To be clear, he’s talking about the prices at which reservation contracts
- [3Things: Křetinský gets cold feet with Foot Locker, P3/QSL and Arcus City](https://theprime.cz/sectors/retail/3things-kretinsky-gets-cold-feet-with-foot-locker-p3-qsl-and-arcus-city/) - Vesa Equity Investment, otherwise known as the investment vehicle of billionaires Daniel Křetínsky and Patrik Tkáč, has sold off $43 million worth of shares in the footwear giant Foot Locker. The Czecho-Slovak duo bought into the company in 2020, when pandemic panic pushed its share price down to just $21. The investment looked like a
- [Revetas converting office projects into resi rental portfolio](https://theprime.cz/sectors/offices/revetas-converting-office-projects-into-resi-rental-portfolio/) - The real estate investment adviser property company Revetas Capital raised eyebrows by announcing its intention to convert a portfolio of office land plots in Warsaw, Krakow and Katowice into residential. As employers struggle to convince employees to return to the office, such moves by investors only serve to increase concern over the sector’s long-term prospects.
- [Q3 2022: No new offices start in Prague as vacancy slips to 8.1%](https://theprime.cz/news/leases/q3-2022-no-new-offices-start-in-prague-as-vacancy-slips-to-8-1/) - Developers completed 18,200 sqm of new office space in Prague during the third quarter of the year, bringing the total stock of modern space to 3.8 million sqm. But no new projects were begun during Q3, possibly reflecting concern over the long-term direction of the sector. The new space was divided between two new builds
- [Jonathan Appleton: Czech Business Services sector will employ 200,000 by 2025](https://theprime.cz/sectors/offices/jonathan-appleton-czech-business-services-sector-will-employ-200000-people-2025/) - Jonathan Appleton (ABSL) says the Czech business services sector has grown both in volume and in sophistication over the past 20 years. As MD of the Association of Business Services Leaders in the Czech Republic, he's spearheading the upcoming conference in Prague that begins Nov. 8, focusing on resilience. It's a key target group for
- [Jan Kubíček: A decade of cooperation helped malls survive Covid](https://theprime.cz/news/jan-kubicek-a-decade-of-cooperation-helped-malls-survive-covid/) - Jan Kubíček says that during the Covid-19 pandemic, retail Czech shopping mall owners benefited from a decade of cooperation and sharing information through the International Council of Shopping Centers (ICSC). The current crisis is presenting quite different challenges, says Kubíček, now Executive Committee Chair of the Czech Council of Shopping Centers. You were asked to
- [Government offers Plzeň as VW gigafactory site...but Plzeň is unimpressed](https://theprime.cz/sectors/industrial-logistics/government-offers-plzen-as-vw-gigafactory-site-but-plzen-is-unimpressed/) - For over a year, the Czech state has been looking for a way to convince Volkswagen to build an electric car battery factory somewhere on its territory. With time apparently running out (the company reportedly intends to make a decision by the end of the year), the Czech government has gone all-in on a location
- [Government pressured to kill construction law amendment](https://theprime.cz/news/government-pressured-to-kill-construction-law-amendment/) - Everyone who is anyone in the world of construction and real estate is demanding that the government call off today’s negotiations on the current version of the new construction law. They’re warning that it won’t do anything to improve the one thing that actually matters: shortening the time it takes to get a construction permit.
- [Karel Stranský (Colliers): Nearshoring marks the end of globalization (as we knew it)](https://theprime.cz/sectors/industrial-logistics/karel-stransky-colliers-nearshoring-marks-end-of-globalization/) - We’ve become used to the idea of nearshoring as a major potential source of new business for industrial developers. The now-accepted narrative behind this conviction is that the pandemic served as a wake-up call for manufacturers and consumer goods producers. That in their quest for ultra-cheap, just-in-time delivery, they’d built a fragile house of cards.
- [Josef Wiedermann: UBM targeting resi market...Prague office oversupplied](https://theprime.cz/sectors/offices/josef-wiedermann-ubm-targeting-resi-market-prague-office-oversupplied/) - There haven’t been many dull moments for Josef Wiedermann as MD of UBM Development Czechia. He took the helm of the Austrian-based development company in March 2020. First, the pandemic hit, leading to fears that the residential boom would finally end. Instead, the Czech National Bank unleashed a buying frenzy by dropping interest rates to
- [Construction underway on Logport Prague West](https://theprime.cz/sectors/industrial-logistics/construction-underway-on-logport-prague-west/) - Construction got underway on Logport Prague West in Jinočany in late September, says the developer’s director David Vais. Planning for the 45,000 sqm GLA project allows for buildings no bigger than 4,000 sqm, making it a unique concept for Prague. Vais says the limit isn’t a hurdle he has to overcome, but rather another way
- [Appointments: David Yearn, Robert Paulson, Martin Ducháč](https://theprime.cz/news/appointments/appointments-david-yearn-robert-paulson-martin-duchac/) - David Yearn has taken over at Managing Director of REassurance. Yearn spent the past 14 years with First Title, where he was Business Development Manager for Central & Eastern Europe. For REassurance, it means he has experience in numerous countries and across most sectors. He replaces Charles Cruden as MD, with Cruden staying on as
- [Q3 resi sales in Prague crash 60%, prices rise 17%](https://theprime.cz/sectors/residential/q3-resi-sales-in-prague-crash-60-prices-rise-17/) - You can tell that momentum is leaking out of Prague’s residential market because the price of older units is actually beginning to fall. There are still serious imbalances out there, however. Because even if Prague sales tanked by 42% in Q3 (compared to Q2) to just 550 units, the year-on-year prices rose at a double-digit
- [Zásilkovna moves into Prologis Park Prague-Rudná](https://theprime.cz/news/leases/zasilkovna-moves-into-prologis-park-prague-rudna/) - Zásilkovna has opened a 12,600 sqm logistics depot at Prologis Park Prague-Rudná. This includes a fully automated section where autonomous robots (dubbed PackMan) sort packages. Zásilkovna, which is part of the Packeta group, currently operates around 400 robots. Its specialty is delivery of packages from e-shops to customers to pick-up points such as stores and
- [ThePrime on YouTube: Iztok Toplak explains why resi prices will keep falling](https://theprime.cz/sectors/residential/theprime-on-youtube-iztok-toplak-explains-why-resi-prices-will-keep-falling/) - Iztok Toplak of RE/MAX G8 says his analysis of reservation contracts signed by his agency shows that prices on the secondary market started falling halfway through 2022. Not only are they still falling, says Toplak, but they'll probably keep falling next year as well. Also in ThePrime https://theprime.cz/sectors/residential/uber-grew-up-but-airbnb-is-still-pragues-annoying-teenager/ https://theprime.cz/news/finance/jaroslav-mida-mint-investments-maturing-loans-will-drive-repricing/ https://theprime.cz/news/real-estate-investment/invesco-completes-forward-purchase-deal-for-logport-prague-west/
- [Uber grew up, but Airbnb is still Prague's annoying teenager](https://theprime.cz/sectors/residential/uber-grew-up-but-airbnb-is-still-pragues-annoying-teenager/) - The Internet’s disruption of hotels and taxi services began in earnest ten years ago. That’s when the start-ups Uber and Airbnb went global and fed into the belief that we stood on the cusp of an entirely new digital era. It became cool to say how bored you were of corporate hotels, while ride share
- [The Julius Prague hosts ThePrime Subscribers Mixer](https://theprime.cz/sectors/hotels/the-julius-prague-host-theprime-subscribers-mixer/) - As befitted the wonderful venue for November's Subscribers Mixer, the topic of the 60-minute workshop that preceded the drinks was the hotel sector. David Nath (Cushman & Wakefield) presented an in-depth analysis of Europe's hotel market and explained at least in part why investors would do well to look at cities like Prague. Erik Webb
- [Svoboda & Williams Cup raises CZK 528,900 for Tereza Maxová Foundation](https://theprime.cz/news/svoboda-williams-cup-raises-over-czk-500000-for-tereza-maxova-foundation/) - The Svoboda & Williams Cup returned to the UNYP arena after a 2-year Covid hiatus. The Svoboda & Williams team won the charity futsal tournament for the first time ever. More importantly though they raised CZK 528,900 thanks to the 12 real estate teams participated. They included Accolade, bpd development, CBRE, Colliers International, CPI Property
- [UBM goes big on wood development projects](https://theprime.cz/news/ubm-goes-big-on-wood-developments/) - The Austrian developer UBM used the pandemic as an opportunity to rethink its priorities. The more obvious of these was to halt new investments in hotels, traditionally a key product for the company. But its CEO hit upon another, more ambitious idea – wood. That is, to ramp up the company’s use of the renewable
- [Richard Curran (Knight Frank): €29 rents in central Prague are a myth](https://theprime.cz/sectors/offices/richard-curran-e29-rents-in-central-prague-are-a-myth/) - Are rents in central offices going to go up to €27 - 29 as advertised? No. Certainly not in the short to medium term. People are taking this number off of one building, which is Masaryčka. Penta appear to be very successful in renting it, however, it's not reflective in the least of the wider
- [Sovička: Outdated planning and policies risk country's high tech future](https://theprime.cz/news/companies/sovicka-outdated-planning-and-policies-put-countrys-high-tech-future-at-risk/) - The Czech government responded to news that Volkswagen is looking for locations to build six battery plants with claims that ČEZ's project for a lithium battery plant in Northern Bohemia should be considered. Minister of Industry Karel Havlíček told Hospodářské noviny negotiations with VW were underway. “We can’t let this opportunity slip away from us,”
- [Iain Fanthorpe (Bluehouse Capital): Rents rising to match inflation](https://theprime.cz/sectors/retail/iain-fanthorpe-bluehouse-capital-rents-rising-to-match-inflation/) - Iain Fanthorpe (Bluehouse Capital) insists that property investments aren't just designed to protect against inflation...thanks to rising rents, they deliver. That was true during the last decade when inflation lay dormant. But he says it will continue to do so even in today's challenging environment. Bluehouse is a value-add real estate investor focusing on Central
- [Lekvi Development now targeting retail parks in Romania and Spain](https://theprime.cz/news/companies/lekvi-development-now-targeting-retail-parks-in-romania-and-spain/) - The Czech-based retail park specialist Lekvi Development continues to build retail parks and stores for investors in what it considers its home markets, Slovakia and the Czech Republic. For example, two new Žabka grocery stores should open over the coming six months. But growing saturation and tight competition led the company to look for other
- [Matěj Vyskočil appointed COO at Zeitraum](https://theprime.cz/prague/matej-vyskocil-appointed-coo-at-zeitram/) - Zeitraum has named Matěj Vyskočil as its Chief Operations Officer, a new position the company set up to ensure its portfolio is managed effectively. Director Zdena Noack says Zeitraum’s ongoing physical expansion has made it imperative to strengthen on the human resources side. She said Vyskočil’s experience in the hotel and travel sectors made him
- [ThePrime Pod: Jakub Kodr on ESG, Solar panels and construction prices](https://theprime.cz/sectors/industrial-logistics/theprime-pod-jakub-kodr-on-esg-solar-panels-and-construction-prices/) - CTP's Czech Head of Business Development Jakub Kodr says the the industrial developer is installing solar panels on all of its new projects. But it's also ramping up its total solar program by retrofitting existing projects, with 15 MW of new capacity to be added in 2022 alone. In this video episode of ThePrime Pod,
- [Subscribers mixers return for fall season with Dual Asset edition](https://theprime.cz/news/subscribers-mixers-return-for-fall-season-with-dual-asset-edition/) - A great crowd showed up at the Yalta Fusion & Bar Thursday night, despite it being the first day of school. Along with the usual mixer at 6pm, Mark Robinson (Encor Wealth Management) and Iain Fanthorpe (Bluehouse Capital) gave frank presentations about the current state of the economy and what their expectations are for the
- [Fraser Watson (Savills): Lack of deals leaves us in limbo](https://theprime.cz/news/real-estate-investment/fraser-watson-savills-lack-of-deals-leaves-us-in-limbo/) - Did quoting 4% prime yields for Prague end after February 24? In view of all that’s changed, it seems unlikely we’ll see their like for a long time. I think if you look at Churchill at the rumored 4.25%, the feeling was that if something like Florentinum or another top, core property was to trade,
- [Q2 retail results suggest pain for 2022](https://theprime.cz/news/companies/q2-retail-results-suggest-pain-for-2022/) - Cineworld is looking at filing for Chapter 11 bankruptcy in the United States. That’s a blow to shopping centers everywhere, at least those that invested heavily in multiplex theaters in the belief they’d drive footfall. Cineworld said that while business has picked up worldwide, it’s nowhere near the level of business it was doing before
- [ZFP buys Blumental in Bratislava from Corwin](https://theprime.cz/news/real-estate-investment/zfp-buys-blumental-in-bratislava-from-corwin/) - The Slovak developer Corwin has sold its Blumental mixed-use office project in central Bratislava to a ZFP Investments fund. Tenants in the 16,000 sqm building include Zurich Insurance, JLL, TPA Audit and P3 Logistics. Savills worked with the vendor along with Dentons and Flatiron. MiddleCap, Havel & Partners and KPMG acted for the buyer. “The
- [Dual Asset sponsors Sept. 1 Subscribers Mixer (Plus)](https://theprime.cz/events/dual-asset-sponsors-sept-1-subscribers-mixer-plus/) - The first Subscribers Mixer of the fall will take place on Sept 1 at the Yalta Fusion & Bar on Wenceslas Square. Dual Asset is the sponsor for this month's edition, which features a 60-minute pre-mixer discussion group. The well-known economist Mark Robinson (Encor Wealth) will give a 20-minute presentation on Czech asset yields, EUR
- [Schedule of Upcoming Events](https://theprime.cz/events/upcoming/schedule-of-upcoming-events/) - If you're a subscriber and you'd like your event displayed here, please get in touch
- [3Things: Pražák buys Oaks Prague, CTP's new Brno office project, and fresh blow for aluminum supply](https://theprime.cz/sectors/offices/3things-prazak-buys-oaks-prague-ctps-new-brno-office-project-and-fresh-blow-for-aluminum-supply/) - 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
- [3Things: CTP's new CFO, PDS shortlist, inflation break](https://theprime.cz/sectors/industrial-logistics/3things-ctps-new-cfo-pds-shortlist-inflation-break/) - CTP appointed Patrick Zehetmayr as its new CFO, replacing Richard Wilkinson who will now focus primarily on overseeing CTP’s CEE markets as Deputy CEO. Zehetmayr arrives at CTP from Erste Group Bank in Vienna, where he was formerly head of its commercial real estate division. At the same time the industrial developer appointed Dirk Sosef
- [Andrew Smith, long-time Prague resident, dies at 53](https://theprime.cz/prague/andrew-smith-long-time-prague-resident-dies-at-53/) - Andrew (Andy) Smith left us far too soon and suddenly aged 53 on the 7th of August. Beloved father, family man, partner and friend, Andy was a BIG character whom upon first meeting you immediately knew was a genuinely good man. A 30+ year resident of Prague, Andy touched the lives of many who lived
- [Colin Glover: SIS Systémy now a CZK 1bn construction company](https://theprime.cz/news/companies/colin-glover-sis-systemy-now-a-czk-1bn-construction-company/) - Stavební Interiérové Systémy s.r.o. is a thing of the past, says managing director Colin Glover. As of July, the company’s name is SIS Systémy a.s. It’s just a name change, but it reflects both how the company has evolved, and how the owners envision its growth. First of all, the word “Interiérové” has been removed,
- [3Things: Port7 leasing, Coloseum listed, and the bridge crisis](https://theprime.cz/sectors/offices/3things-port7-leasing-coloseum-listed-and-the-bridge-crisis/) - Port7 one-third leased Skanska has completed the superstructure at its Prague 7 – Holešovice project Port7. Crucially, the company claims that with less than a year to go before completion, roughly one-third of the 35,800 sqm of office and retail space has already been leased. Designed by the DAM.Architekti studio, the three buildings now under
- [Trigema acquires 51% of Cenová mapa ČR](https://theprime.cz/smart-development/proptech/trigema-acquires-51-of-cenova-mapa-cr/) - The investment group Trigema has acquired a majority shareholding in Cenová mapa ČR, the company that maintains the CenovaMapa.org. The website tracks transactional prices of real estate across the Czech Republic using official, public data provided by the Czech Land Registry. The company’s name has been changed to Dataligence s.r.o. and will be re-branded under
- [Mietek Godzisz (Hines): I needed to reinvent myself](https://theprime.cz/news/companies/mietek-godzisz-hines-i-needed-to-reinvent-myself/) - You stepped down from your position in Poland where you led Hines. It means you’re not just touring the region; you want to play an active role here? Absolutely. Several years ago, I realized that I needed to reinvent myself. The team in Poland has matured with people who have worked with me for over
- [3Things: Developer contributions, CTP's Desenio deal, and cooling resi prices!](https://theprime.cz/news/leases/3things-developer-contributions-ctps-desenio-deal-and-cooling-resi-prices/) - Prague residential prices have peaked. Or as the masters of the city’s resi market (Trigema, Central Group and Trigema) put it in their joint press release, they “stabilized” in the second quarter of the year. “The current average sales price of 145,783 per square meter is comparable to the first quarter, but it’s still 20%
- [Totem Bikes agrees to 10,000 sqm lease in Panattoni Park Týniště](https://theprime.cz/news/leases/totem-bikes-agrees-to-10000-sqm-lease-in-panattoni-park-tyniste/) - The Czech electric bicycle producer Totem Bikes has agreed to lease nearly 10,000 sqm in Panattoni Park Týniště. Roughly 9,300 sqm will be used for production and storage, with the remainder reserved for offices. Panattoni director Pavel Sovička says the deal comes ten years after the company began construction in Týniště nad Orlice and that
- [Prague office vacancy stuck at 8.4%](https://theprime.cz/sectors/offices/prague-office-vacancy-stuck-at-8-4/) - Crestyl’s 20,500 sqm Dock In Five was the only major addition to Prague’s stock of modern office space in the second quarter of 2022. Its completion (plus the 2,200 sqm Košířská brána) brought the city’s total volume to 3.75 million. In its QII report, Prague Research Forum notes that another six projects are expected to
- [Stan Kubáček (Heimstaden): Where are the service providers?](https://theprime.cz/news/companies/stan-kubacek-heimstaden-where-are-the-service-providers/) - Are apartments overpriced in Prague? In the end, I think it always comes down to supply and demand. I take Warsaw as a good example. It’s a city that I know well, where we’ve invested heavily in the last two years for Heimstaden. Warsaw has similar dynamics as Prague, and it's a booming city from
- [House of Julius Meinl opens The Julius Prague](https://theprime.cz/news/julius-meinl-vi-opens-the-julius-prague/) - Julius Meinl VI himself was on hand to open the family company’s first residence, the Julius Prague. He said the company was celebrating its 160th anniversary this year by rolling out a completely new type of accommodations product. “We believe we’ve identified a gap in the market that we believe meets the needs of the
- [3Things: Ganik on trial, P3's German data campus, AFI finishes Tulipa Třebešín](https://theprime.cz/sectors/industrial-logistics/ganik-afi-p3-data-center/) - P3 Logistics Parks will develop P3 Datacenter Hanau, a major data center campus in Germany that involves at least eight data center modules and a building area of about 200,000 sqm. P3 will have to decontaminate the Großauheim barracks site, which has stood vacant since 2008, carry out its deconstruction and recycle the materials of
- [CTP names Ivana Ficzová CFO for Czechia](https://theprime.cz/sectors/industrial-logistics/ctp-names-ivana-ficzova-cfo-for-czechia/) - CTP has named Ivana Ficzová as its new CFO for its Czech operations. She’ll be in charge of the strategic management of the industrial developer’s finances in the Czech Republic. Ficzová has been working in senior financial positions in real estate for the past 15 years, including Star Group and P3. In 2016, she won
- [Finep buys Lannuv palace from CSSD for CZK 201m](https://theprime.cz/news/real-estate-investment/finep-buys-lannuv-palace-from-cssd-for-czk-201m/) - In order to pay off debts that have been weighing down the party, the Czech Social Democrats (CSSD) have sold off the Lannova palace across from the Masaryk train station in central Prague to the building's main tenant: Finep. The residential developer maintains offices and a showroom in the building, where a major reconstruction was
- [Chanel and Balenciaga among market's new brands in 2022](https://theprime.cz/news/leases/chanel-and-balenciaga-among-markets-new-brands-in-2022/) - Roughly 15 new brands hit the Czech market over the first 6 months of the year, according to a study by Cushman & Wakefield. The pace of new openings tends to speed up in the second half of the year, says C&W’s Head of CEE Retail Jan Kotrbáček. That suggests that 2022’s total for the
- [3Things: Inflation tops 17%, mortgages tumble 60%, Donashop dead](https://theprime.cz/news/leases/3things-inflation-tops-17-mortgages-tumble-60-donashop-dead/) - The Czech mortgage market is in freefall. A year ago, with loan rates around 2% and residential values continue to leap in value, it seemed foolish not to buy a flat. With mortgages now coming in at over 6% and prices beginning to slip (at least in Prague), common sense dictates otherwise. Hospodářské noviny spoke
- [Oana Stamatin (Colliers): ESG is not just a certificate](https://theprime.cz/smart-development/sustainability/oana-stamatin-colliers-esg-is-not-just-a-certificate/) - Earlier this year, Colliers named Oana Stamatin Director of ESG for Central & Eastern Europe. This didn't come out of nowhere...Oana has been building her ESG expertise over that past 10 years, during which time she's been involved in over 100 projects totaling 3 million sqm of real estate. She says a common misconception about
- [Iztok Toplak: Czech resi prices have peaked, including Prague](https://theprime.cz/sectors/residential/iztok-toplak-czech-resi-prices-have-peaked-including-prague/) - If reservation contracts for the third quarter of 2022 are any guide, Czech resi prices could stop rising in the Czech Republic. Even in Prague. That’s the shocking prediction Iztok Toplak has made based on the data of the company he works for (RE/MAX G8 Reality). In his most recent newsletter, he wrote that “Reservation
- [Nordsee closing in Palladium and Novy Smichov](https://theprime.cz/news/leases/nordsee-closing-in-palladium-and-novy-smichov/) - The Palladium and Novy Smichov shopping malls have cancelled lease contracts with Nordsee as of the end of July, which spells the end of the restaurant chain in the Czech Republic. The operator Master Mariner declared itself to be insolvent back in May, with debts of more than CZK 40 million. The majority of this
- [Industrial output up 3.3% in May after 3-month slide](https://theprime.cz/news/industrial-output-up-3-3-in-may-after-3-month-slide/) - Czech industrial output rose 3.3% y-o-y in May thanks to improved numbers from the automobile sector. The Czech Statistics Office attributed the upturn for car manufacturers to a mild improvement in supply chain blockages. Furniture and leather goods production jumped 20% while pharmaceuticals were up 15%. Construction output growth slowed from 4% in April, but
- [Big crowd for the return of IBF Real Estate BBQ](https://theprime.cz/events/big-crowd2-for-return-of-ibf-real-estate-bbq/) - The annual IBF Real Estate BBQ took place June 23rd at the picturesque Letenské zámeček overlooking Prague’s historic center. It was the first edition of the event since 2019 and one of the first opportunities for the real estate to gather for a purely socially event since the pandemic. Which explains at least in part
- [3Things: Nukes in Europe, Italy's banks, and flats in Slovakia's Tatras](https://theprime.cz/sectors/residential/3things-nukes-in-europe-italys-banks-and-vacek-in-slovakias-tatras/) - Interest rates are rising in the United States for the first time in a decade, and the impact is being felt around the world. For starters, the value of the dollar has been rising, suddenly putting the prospect of parity with the euro in reach. Rising inflation forced the European Central Bank to announce it
- [William Matthews signs CZK 149m deal with Správa železnic for new HQ drawings](https://theprime.cz/news/william-matthews-sign-czk-149m-deal-with-sprava-zeleznic-for-new-hq-drawings/) - Správa železnic (SŽ) signed a CZK 149 million contract with the British architectural studio William Matthews Associates for the project documentation on its planned new headquarters. That’s higher than the expected value of the contract which was CZK 123 million. The studio won an international competition last year for the building, coming out ahead of
- [Penta sell off to Alto RE drives record H1 as SK yield compression ends](https://theprime.cz/news/real-estate-investment/penta-sell-off-to-alto-re-drives-record-h1-as-sk-yield-compression-ends/) - Slovakia’s real estate sector produced a 6-month record breaking volume of deals in 2022, with total investment exceeding €600 million. Marian Fridrich (Cushman & Wakefield) points out that the result is due largely to the transfer of part Penta’s portfolio to Alto Real Estate. That transaction is also behind the heavy office sector emphasis (70%)
- [3Things: Orban's Slovak investments plus Karimpol and Panattoni deals](https://theprime.cz/news/leases/3things-orbans-slovak-investments-plus-karimpol-and-panattoni-deals/) - Karimpol has opened the first phase of its Squarebizz Bory, its new Slovak industrial project. The first phase consists of three buildings offering a total of 15,000 sqm and around 2,000 sqm of office space. Another three buildings should complete by next spring for several tenants who have agreed to lease them. The concept can
- [Marco Maio: On tornados, renewal and architecture (Podcast episode)](https://theprime.cz/urban-planning/marco-maio-on-tornados-renewal-and-architecture-podcast-episode/) - It's impossible to label the tornado that destroyed and damaged hundreds of homes across Southern Moravia on June 24, 2021 as anything but a disaster. But as the Portuguese architect Marco Maio understood, opportunity also lay in the ruins of all those collapsed buildings and public squares. He spent the next few months developing a
- [Materials shortages complicating post-tornado rebuilding](https://theprime.cz/news/leases/materials-shortages-complicating-post-tornado-rebuilding/) - There's obviously never a good time for your home to be hit damaged in a natural catastrophe. But last week's tornado in southern Moravia hit roughly 1,200 homes at a moment when the construction industry has become nearly dysfunctional. High demand and sporadic supply in recent months have sent prices for basic materials and labor
- [Jiří Snížek: Coordinating growth in two-speed Central Bohemia](https://theprime.cz/urban-planning/jiri-snizek-coordinating-growth-in-two-speed-central-bohemia/) - Jiří Snížek is Central Bohemia’s deputy governor in charge of regional development. It’s a tricky assignment that’s been made more difficult in recent years by the huge exodus of people from Prague into the region. You’re primarily responsible for the development of Central Bohemia, but the City of Prague’s development now depends heavily on what
- [Logicor developing 26,000 sqm Royal Canin warehouse near Kraków](https://theprime.cz/sectors/industrial-logistics/logicor-developing-26000-sqm-royal-canin-warehouse-near-krakow/) - Logicor is developing a strategic logistics site for the pet food manufacturer Royal Canin. The company chose the location near Krakow next to its existing factory, which produces and exports products to 24 European and Asian markets. The new 26,500 sqm warehouse will enable Royal Canin to grow its European operations and support long-term growth.
- [3Things: Ondřej Titz joins VGP, Aareal, and a simply clever bridge](https://theprime.cz/news/companies/3things-ondrej-titz-joins-vgp-aareal-and-a-simply-clever-bridge/) - The industrial real estate developer VGP has named Ondřej Titz as its commercial director for the Czech Republic. He’ll be responsible for acquiring new tenants and concluding lease agreements. After Ikea from the Prague Economic University Titz worked at Cushman & Wakefield’s industrial team before joining Kidea as leasing manager. In 2019, he joined P3
- [Prague approves PDS rental residential project along Metro D](https://theprime.cz/projects/prague-approves-pds-rental-residential-project-along-metro-d/) - Prague’s city council has approved another rental apartment project to be carried out by Pražská developerská společnost (PDS), this time in Nový Dvory – Prague 4. The plans call for the construction of 45 apartments that should be rented to single mothers, senior citizens or to people working in sectors essential to the functioning of
- [ČNB's interest rate hikes no match for real estate inflation](https://theprime.cz/news/cnbs-interest-rate-hikes-no-match-for-real-estate-inflation/) - Czech interest rates began rising rapidly halfway through 2021, because the central bank claimed it was the only way to stop runaway inflation. Oh well. As with just about everything else here, the evidence from one-quarter of the way through 2022 is that it’s not working. Land, for example, rose 25% during Q1 2022, according
- [Spaceflow raises €8 million from Swedish proptech group Hydda](https://theprime.cz/news/finance/spaceflow-raises-e8-million-from-swedish-proptech-group-hydda/) - Spaceflow took a major step in its goal to expand globally with the announcement of a strategic partnership with Hydda, a Swedish investment group which specializes in innovative real estate technology. Hydda is leading Spaceflow’s Series A investment round with €8 million. It's also aiming for a European IPO with its entire proptech portfolio. “Spaceflow
- [€20m reconstruction will turn Alcron into Almanac X](https://theprime.cz/news/project-news/e20m-reconstruction-will-turn-alcron-into-almanac-x/) - WSF Group is three floors and four months into a €20 million overhaul of the Alcron hotel in central Prague. The family-owned company will re-launch the hotel as the Almanac X Prague, the first in a collection of prestige hotels that will trade under the Almanac brand. All rooms are undergoing a redesign, along with
- [3Things: Oana Stamatin, runaway mortgage rates, and Prague's new bridge](https://theprime.cz/urban-planning/3things-oana-stamatin-runaway-mortgage-rates-and-pragues-new-bridge/) - Colliers has promoted Oana Stamatin to the position of ESG director for the CEE region. She’d previously led the environmental certification practice for Colliers in Romania, working on more than 100 projects of around 3 million sqm over the past decade. In her new role, she’ll be responsible for helping Colliers reach its ESG goals
- [Richard Curran (Knight Frank): There's serious wealth and liquidity in the regions](https://theprime.cz/news/real-estate-investment/richard-curran-knight-frank-were-finding-serious-wealth-in-the-regions/) - Richard Curran said that some of the issues he wanted to work on upon taking the role of Managing Director at Knight Frank last year were obvious ones. “We needed an industrial team, given what was going on in the market,” he says. This led to the hiring of Marketa Vrbasová from BNP, who’s built
- [Robert Sgariboldi joins JLL's Czech industrial team](https://theprime.cz/news/leases/robert-sgariboldi-joins-jlls-czech-industrial-team/) - Robert Sgariboldi has joined JLL as Director, Industrial and Logistics Agency Czech Republic, where he’ll be leading leasing advisory and supply chain consultancy for its logistics clients. The move took effect May 9. Sgariboldi was previously CFO and head of industrial agency at 108 Agency, where he spearheaded the acquisition process of BNP Paribas Real
- [Passerinvest enters new era with Roztyly Plaza office project](https://theprime.cz/urban-planning/passerinvest-enters-new-era-with-roztyly-plaza-office-project/) - Passerinvest’s top management was on hand yesterday for a foundation stone laying ceremony for new office Roztyly Plaza. Founder, Radim Passer, CEO Martin Unger along with Sales Director Lenka Preslová all came out to mark the occasion. It’s a huge moment for the company, whose development activities had focused until yesterday exclusively on the BB
- [New flats in Prague selling at nearly CZK 150,000 per sqm](https://theprime.cz/sectors/residential/new-flats-in-prague-selling-at-nearly-czk-150000-per-sqm/) - We appear to be just days away from paying an average of CZK 150,000 per sqm for a new flat in Prague. That’s 30% higher than it was a year ago, according to the latest edition of an ongoing report by Trigema, Skanska and Central Group. Back in May 2021, were shocked by 15% -
- [3Things: P3 in Pilsen, Drábek joins Savills, Mall Group in the red](https://theprime.cz/sectors/industrial-logistics/3things-p3-in-pilsen-drabek-joins-savills-mall-group-in-the-red/) - Dušan Drábek has joined the Savills Prague office as Associate Director where he’ll be working alongside the Head of Industrial Agency, Chris LaRue. Previously, he led the industrial and logistics team for BNP Paribas, representing clients from the e-commerce, automotive and FMCG sectors. Drábek’s experience extends beyond agency, however, as he spent more than 13
- [Bjarke Ingels Group bid wins competition for Vltava Philharmonic Hall](https://theprime.cz/urban-planning/bjarke-ingels-group-bid-wins-competition-for-vltava-philharmonic-hall/) - An 11-member jury spent three days at the end of April debating bids for Prague’s new Vltava Philharmonic Hall. Last night, they announced the competition's winner: the Danish studio Bjarke Ingels Group (BIG). It’s a decision that's taken years of planning because the new philharmonic needs to fill in some of Prague's gaping holes. For
- [Bratislava's daring new plan to heal Old Town wound](https://theprime.cz/urban-planning/bratislavas-daring-new-plan-to-heal-old-town-wound/) - In Bratislava, the construction of the SNP bridge leading to Petržalka in the 1970’s forced city planners to commit what you could describe as the city’s original sin. The ironically named Staromestskej street is really a multi-lane strip of concrete that cut through and destroyed what was once part of the city’s old town. Now,
- [New podcast! Build-up to Czech brownfields conference in Ostrava begins](https://theprime.cz/sectors/industrial-logistics/new-podcast-tomas-kaderabek-assoc-of-developers-david-petr-czechinvest/) - The fourth edition of the Czech brownfields conference is nearly upon us. On June 16, investors, builders, banks and public officials will converge on Ostrava for two days of discussions and planning. On this edition of ThePrime Pod, Tomáš Kadeřábek (Association of Developers) says there's been plenty of theoretical talk at this point about brownfields.
- [CNB predicts recession, but raises rates to 7% to fight inflation](https://theprime.cz/news/finance/cnb-predicts-recession-but-raises-rates-to-7-to-fight-inflation/) - Yesterday, the Czech National Bank raised its based interest rate by 1.25% to 7%. That’s stunning, unless you’re one of the famous financial analysts interviewed by Seznam Zpravy after the new hit. “It’s not a surprise, it’s in the middle range of the expected increase of 1% and 1.5%,” said ex-CNB governor Miroslav Singer, adding
- [Fire at Eurovea Tower in Bratislava](https://theprime.cz/sectors/offices/fire-at-eurovea-tower-in-bratislava/) - Fire broke out at Eurovea Tower in Bratislava this morning, with dark smoke rising from the top of the building. Local firefighters responded immediately to the emergency, as officials reported that nearly 30 were on the scene. J&T Real Estate spokesman Daniel Suchy said building equipment rather than the building itself had caught fire and
- [Palmovka as the new Anděl](https://theprime.cz/urban-planning/palmovka-as-the-new-andel/) - https://theprime.cz/features/bratislava/fire-at-eurovea-tower-in-bratislava/Prague Development Company (PDS) unveiled its vision for 8 ha of land the southwest portion Palmovka. The area should eventually see the construction of 2,200 city rental flats and up to 50,000 sqm of space not just for offices, restaurants and smaller shops but for a community center and library. The emerging plan respects the
- [Save the Date!! Subscribers Mixer set for April 28!](https://theprime.cz/prague/subscribers-mixer-set-for-april-28/) - The response to the first mixer was so enthusiastic that holding another just makes sense. So, I've set it up for April 28 beginning at 6pm, once again at Hybernska 7. We'll be off to the side this time in a better area of the pub, since things were a bit cramped last month. With
- [Carlo Gradl to sponsor Subscribers Mixer on April 28](https://theprime.cz/news/carlo-gradl-to-sponsor-subscribers-mixer-on-april-28/) - There's already as many people confirmed for next week's mixer as in March, which is great news. But so is the fact that Carlo Gradl has agreed to sponsor this month's get-together! I really appreciate his support of the event, which I'm using to build up a diverse community of real estate-minded professionals. So, if
- [In recovery: 2nd Mixer Bigger and Better](https://theprime.cz/news/leases/in-recovery-2nd-mixer-bigger-and-better/) - Many, many thanks to everyone who showed up for the subscribers mixer last night. And my thanks as well to Carlo Gradl, who stepped up to support the second-ever edition of the event. By the looks of chats I had with some of you, it’s looking there should be support for one or two more
- [Hooked on data: SmartCity Workshop coming June 8, 5pm](https://theprime.cz/urban-planning/hooked-on-data-smartcity-workshop-coming-june-8-5pm/) - What happens to shopping centers that don’t count their shoppers every day? What don’t know how many shoppers spent money last week? Or where they came from? What if they had no data to benchmark performance? They’d be flying blind. They’d had have no answers to why sales were falling? Without data, it’s all guesswork.
- [June 15th Subscribers Mixer: At The Fitzgerald](https://theprime.cz/news/june-15th-subscribers-mixer-at-the-fitzgerald/) - The last Subscribers Mixer of the season will be held from 6pm - 8pm at The Fitzgerald, the newly opened hotel in Karlin. It's a great occasion to check out the hotel as well as catch up on the latest market goings on before heading off for the holidays. The Fitzgerald is sponsoring the event,
- [IBF's Real Estate BBQ set for big return on June 23](https://theprime.cz/prague/ibfs-real-estate-bbq-set-for-big-return-on-june-23/) - People are filtering slowly back into offices after the disruption of the past two years. But the return of big, in-person events for the real estate sector is probably the most prominent symbol of a return to something like normality. The IBF Real Estate Barbecue has always stood out both as an enjoyable, large-scale social
- [The Fitzgerald in Karlin hosted June's Subscribers Mixer](https://theprime.cz/sectors/hotels/the-fitzgerald-in-karlin-hosted-junes-subscribers-mixer/) - It was great to see all you who showed up for the Subscribers Mixer on Wednesday. The weather was too nice to stay indoors, so we gathered outside in Karlin at The Fitzgerald. For all of you who wrote to let me know you wouldn't be able to make it, I'm including some pictures below
- [Bryan Wilson named Head of CEE for Dual Asset](https://theprime.cz/news/appointments/bryan-wilson-named-head-of-cee-for-dual-asset/) - What does your arrival at Dual mean for the company's plans and capabilities in CEE? I will be further strengthening Dual Asset CEE which already has a team based in Warsaw with two senior underwriters and underwriters covering Slovakia, Hungary and Romania from London. My role will be to expand business and grow their teams,
- [3Things: Weak retail rents, highways hacked, & the end of gas cars](https://theprime.cz/news/3things-weak-retail-rents-highways-hacked-the-end-of-gas-cars/) - There are some interesting numbers that came out of the CBRE Shopping Center Index for the Czech Republic. For example, footfall at regional shopping centers was nearly unchanged in 2021 compared to 2020, but it was 27% lower than in 2019. But the study claims this was partially compensated for in 2021 by a CZK
- [Kingspan to build €200m Building Technology Campus in Ukraine](https://theprime.cz/news/companies/kingspan-to-build-e200m-building-technology-campus-in-ukraine/) - Kingspan has made the remarkable announcement that it will be investing €200 million into the construction of a new Building Technology Campus in Ukraine. The new facility is intended to help meet rapidly growing demand for energy efficient buildilngs while employing 600 people. Work is expected to take five years. The announcement of the investment
- [LPP implementing FM proptech tool by Velis in 1,600 stores](https://theprime.cz/smart-development/proptech/lpp-implementing-fm-proptech-tool-by-velis-in-1600-stores/) - LPP has revealed that it’s implementing Singu FM, a facility and maintenance management software package from Velis Real Estate Tech. It’s a huge deal considering that LPP’s brands encompass network of 1,600 stores in 20 countries. They include Reserved, Mohito, House, Cropp and Sinsay. Błażej Biernacki (LPP) says it’s precisely the company’s intensive growth over
- [On your mark. Get set...Bonds!! (New rate hike's coming)](https://theprime.cz/news/on-your-mark-get-set-bonds-interest-rate-hike-is-coming/) - Near the end of June, Czech National Bank governor Jiří Rusnok will be running his last-ever meeting of the country’s bank council at which interest rate decisions are made. And the outgoing CNB boss has let it be known that we can expect yet another interest rate hike. “Without raising rates it’s simply not possible
- [James Fitzgerald (JLL): The increasing sophistication of industrial tenants](https://theprime.cz/sectors/industrial-logistics/james-fitzgerald-jll-the-increasing-sophistication-of-industrial-tenants/) - At this point there's almost no empty industrial space available space. Just how tight has it become, and where are you seeing it most drastically? You can see stats like the vacancy rate is now sub-2% consistently for prime markets. But there are still many opportunities for build to suit, non-speculative development. Even in greater
- [Skanska kicks off sales in Prague 9 resi scheme Alfréd](https://theprime.cz/sectors/residential/skanska-kicks-off-sales-in-prague-9-resi-scheme-alfred/) - Skanska launched sales of 179 flats in the Vysočanska district of Prague 9 where it’s building the second phase of the residential project Alfred. This phase is designed to meet strict environmental criteria and will incorporate solar energy and modern rain water management techniques. Construction is due to begin last this year and won't complete
- [Seznam Zprávy: Czech investor buys Oaks Prague from Russian owners](https://theprime.cz/news/project-news/seznam-zpravy-czech-investor-buys-oaks-prague-from-russian-owner/) - Seznam Zprávy writes that the Oaks Prague development has been sold by the Russian billionaires Alexandr Abramov and Alexandr Frolov to Eurocapital SE, a company owned by the lawyer Bohumil Koutnik. The news site notes that Abramov and Frolov were never visibly involved in the project company Arendon, but insists its reporters tracked the owners
- [Massive power outage hits central Prague](https://theprime.cz/news/massive-power-outage-hits-central-prague/) - A massive power outage hit central Prague along with the city’s 5th, 10th and 4th districts. The city’s C line metro stopped running and its tram network collapsed along the right bank all the way down to Podoli in Prague 4. Emergency services are reporting dozens of calls for help to evacuate people trapped in
- [3Things: Orsay ends in CZ/SK, rents vs mortgage, and Kratina's football ambitions](https://theprime.cz/sectors/retail/3things-orsay-ends-in-cz-sk-rents-vs-mortgage-and-kratinas-football-ambitions/) - The German fashion retailer Orsay is reportedly leaving the the Czech and Slovak markets. Forbes writes that the company will sell off its assets and leave the market. “I can confirm that Orsay is in the final phase of negotiations over the sale of its stores in Czechia and Slovakia,” said an anonymous source with
- [Robinson & Stupavsky: Forget the headlines...Inflation hasn’t given up just yet](https://theprime.cz/news/robinson-stupavsky-forget-the-headlines-inflation-hasnt-given-up-just-yet/) - It would be nice to think that the outrageous increase in prices we’ve seen in recent months is just a flash in the pan. If you used to drive a little out of the way to pay CZK 2 or CZK 3 less per liter, the current price of CZK 48 is simply incomprehensible. So,
- [Colliers Conversations: Czech capital and industrials assets are 2021's winners](https://theprime.cz/news/real-estate-investment/colliers-conversations-czech-capital-industrials-asset-are-2021s-winners/) - I spoke with Kevin Turpin for the Colliers Conversations about research he did on CEE's investment market in 2021 as well as about his new position as Head of Capital Markets for CEE. You can listen to it here on your browser (click on the player below) or else on Spotify (using this link).
- [Fidurock opens retail park scheme in Milevsko](https://theprime.cz/sectors/retail/fidurock-opens-retail-park-scheme-in-milevsko/) - Fidurock opened a new retail park in Milevsko, 30 km west of the Southern Bohemia town of Tabor. Among the park’s tenants are Albert, drogerie DM, Banquet, Planeo Elektro, Kik and Akvazoo. It’s the tenth such asset in the investor's portfolio. It's also the third that it’s been involved in since the beginning of construction.
- [3Things: Panattoni led CEE in 2021, PDS in Počernice and Oligarchs building in Brno?](https://theprime.cz/news/3things-panattoni-pds-brno/) - There’s 82 million people living in the Czech Republic, Hungary, Poland, Romania and Slovakia. And according to Cushman & Wakefield, those countries are also home to 46 million square meters of modern logistics and industrial space. More than half of it (52%) is located in Poland (which has 45% of the population) while 21% of
- [Andrew Peirson (JLL): Office rents will rise...but so should agency fees](https://theprime.cz/sectors/offices/andrew-peirson-jll-office-rents-will-rise-but-so-should-agency-fees/) - JLL's Prague MD Andrew Peirson returned to the city over a year ago, after more than a decade in other CEE markets. I spoke with him about the city's real estate market, about turning JLL around...and about the need to raise agency fees. What’s the last year been like? At the start, I didn't really
- [Logicor modernizes Inchcape Motor Polska's Warsaw outlet](https://theprime.cz/news/leases/logicor-modernizes-inchcape-motor-polskas-warsaw-outlet/) - Logicor has completed the modernization of a multifunctional property in Warsaw for Inchcape Motor Polska. The project was designed to enable the dealer to expand and offer more comprehensive services. Logicor’s MD for CEE and Northern Europe Bartosz Mierzwiak said adapting existing spaces is often the only option for a company that needs a presence
- [PSN plans CZK 10 billion in acquisitions within 5 years](https://theprime.cz/news/companies/psn-plans-czk-10-billion-in-acquisitions-within-5-years/) - We’ve bought a lot,” says Marek Padevět. “Not just land, but buildings in Prague, Brno, Pardubice and in Špindlerův Mlýn. And we’re ready to expand anywhere it makes sense to us.” Marek Padevět, who is director of residential development at PSN, says the company is ramping up the pace of its output rapidly. The numbers
- [Adventum Penta acquiring CZ/HU Tesco-anchored retail parks in €280m deal](https://theprime.cz/news/leases/adventum-penta-acquiring-cz-hu-tesco-anchored-retail-parks-in-e280m-deal/) - The Hungarian-based Adventum Penta has exchanged contracts to acquire a 360,000 sqm portfolio of 18 Tesco-anchored retail parks located in the Czech Republic and Hungary. Coming just a month after it bought Sky Tower building in Wroclaw, the €280 million deal (financed by Erste Group and OTP Bank) brings Adventum’s total AMU to €1 billion.
- [Capexus prepares for River Corner move following ČEZ ESCO merger](https://theprime.cz/news/companies/capexus-prepares-for-river-corner-move-following-cez-esco-merger/) - Capexus is preparing to trade its old headquarters in the Michle district of Prague 4 for the River Corner building across the river in Prague 5. Built over a decade ago and formerly known as Lyra, it was acquired last summer by 100 Towers Holding, the investment group of Capexus co-founders Daniel Matula and Karel
- [Air travel to Hungary hit hardest extending hotel pain](https://theprime.cz/news/cee/war-dents-cee-air-travel-but-only-mild-turbulence-for-w-europe/) - Hoteliers in Prague aren’t complaining much out of respect for the human suffering that Ukrainians are enduring almost next door. But the unexpected war has dashed their hopes of a steady recovery following two miserable years of pandemic restrictions. Those hopes rested to a large degree on CEE air travel and the airline sector’s ability
- [Yawn...New government promises new, improved construction law](https://theprime.cz/news/yawn-new-government-promises-new-improved-construction-law/) - The outgoing government of Andrej Babiš passed the new construction law just days before its mandate ended. It marked the conclusion of years of work, made all the more urgent by a severe lack of housing and the increasingly backwards nature of the country’s transportation infrastructure. By creating a central construction office and digitizing the
- [UBM Development opening Andaz Prague hotel](https://theprime.cz/prague/ubm-development-opening-andaz-prague-hotel/) - UBM Development is opening its Andaz Prague project following a 2.5 year reconstruction of the “Sugar Palace”, a neoclassical, protected building on Senovážné nam. The 5-star hotel offers 152 rooms, 24 apartments and 5 conference rooms that were designed in partnership with the Madrid-based studio Brime Robbins. “Andaz” is a lifestyle hotel brand operated by
- [Q1 2021 apartment sales in Prague hit 10-year record](https://theprime.cz/sectors/residential/flat-zone-q1-apartment-sales-hit-10-year-record/) - More new flats were sold in Prague in the first quarter of 2021 than in any other quarter in the last decade, according to the developers Trigema, Skanska and Central Group. In all, consumers and investors snapped up 2,100 new units. The result confirmed an enormous wave of demand that had been growing during 2020,
- [Malešický Háj website overloaded by demand, Metrostav halts sales](https://theprime.cz/sectors/residential/excessive-demand-halts-sales-of-metrostavs-malesicky-haj/) - The old saying is that when taxi drivers start investing in real estate, it's time to get out of the market. In the digital era, the warning sign may end up being that the servers for the webpages of a new project were overwhelmed by customers and crashed. That's what appears to have happened to
- [Passerinvest buys ŘSD headquarters from Simona Otavová](https://theprime.cz/news/real-estate-investment/passerinvest-buys-rsd-headquarters-from-simona-otavova/) - Passerinvest has completed the acquisition of the the ŘSD building at Čerčanská 2023/12 in Prague 4 from the businesswoman Simona Otavová. She’s held the building in her portfolio since 2018, but agreed to sell it in an off-market transaction that took two months to conclude. “In a time of volatile inflation and interest rates, we’ve
- [Marcus Schulz (DLE): Landowners want cash these days](https://theprime.cz/sectors/industrial-logistics/marcus-schulz-dle-landowners-want-cash-these-days/) - Since leaving the legal profession back in 2008, Marcus Schulz has worked in various part of the real estate industry, but he was always headquartered in Prague. That changed last summer, when he was recruited by the German real estate investment fund manager DLE to become CEO of its new Polish venture. Schulz says it
- [Karlin Group and PPF Real Estate join forces on residential](https://theprime.cz/news/companies/karlin-group-and-ppf-real-estate-join-forces-on-residential/) - PPF Real Estate and Karlin Group are planning residential projects worth around CZK 4 billion in the Czech Republic. E15 spoke with PPF RE’s director Jiří Tošek, who says the company began looking for other opportunities after successes in Romania. “The decision was for residential properties in the Czech Republic, where we’ve been rather cautious
- [3Things: Huge Q1 for investments, Metrostav quits tender and P3's Jana Machourková's Romanian brief](https://theprime.cz/news/real-estate-investment/3things-huge-q1-for-investment-metrostav-quits-tender-and-p3s-jana-machourkova-romanian-brief/) - The volume of deals completed in the first quarter of 2022 was an impressive €900 million, the largest volume for a Q1 in years. The gush of transaction activity was led by CEE investors (77% of volume), with Czech-based buyers at the head of the pack (49%). Slovak investors were busy as well, accounting for
- [Frank Pörschke (P3): Green bonds just one step along the journey to green](https://theprime.cz/news/finance/frank-porschke-p3-green-bonds-just-one-step-along-the-journey-to-green/) - P3 issued its first green bond in January 2022 and according to CEO Frank Pörschke, the expectation is that there’s no going back now. All of its bond financing will be green in color, because it’s not just the right thing to do -- it’s also where the smart money is. But to improve the
- [Michal Stupavsky (Conseq): We're headed for stagflation](https://theprime.cz/news/finance/michal-stupavsky-conseq-were-headed-for-stagflation/) - Conseq Investment Management’s Investment Strategist Michal Stupavsky is an increasingly prominent commentator on the region’s economy, especially in terms of financial markets. Put simply, his job is primarily to track risk levels and mid-term return potential for a variety of asset classes. And let’s just say there’s a lot of risk around these days. He
- [PPF Real Estate buys 30,000 sqm office project in Bucharest](https://theprime.cz/sectors/offices/ppf-real-estate-buys-30000-office-project-in-bucharest/) - PPF Real Estate has acquired land in Bucharest that comes with a permitted office project. Once built, the ARC building will offer 30,000 sqm of new office space on the western end of the extended city center. Work is expected to get underway in the second half of the year. PPF Real Estate’s Investment Director
- [Denisa Višnovská (Lexxus): Mortgage rates will soon top 5% if central bank moves on Thursday](https://theprime.cz/sectors/residential/visnovska-mortgage-rates-will-soon-top-5-if-central-bank-moves-on-thursday/) - The Czech National Bank looks set to raise its base interest rates yet again tomorrow (Thursday), continuing a pattern that began at the beginning of last summer. Rates fell to just 0.25% during the pandemic, but a dangerous cocktail of public spending and supply chain disruption caused inflation to spike as life slowly returned to
- [Savills CZ: Industrial take-up hits record 2.32 million in 2021](https://theprime.cz/news/savills-cz-industrial-take-up-hits-record-2-32-million-in-2021/) - Savills is calling 2021 the best year on record for the Czech industrial market in terms of tenant activity, as gross take-up came to 2.32 million sqm. That was 53% higher than the previous record from the year before. And it’s not all just renewals. Net take-up hit 1.48 million sqm, which was nearly 50%
- [PlanRadar: Construction sector badly in need of modernization](https://theprime.cz/smart-development/proptech/planradar-construction-sector-badly-in-need-of-modernization/) - In January, the proptech company PlanRadar completed a $69 million fundraising round that was co-led by Insight Partners and Quadrill Capital. The company’s primary product is a digital field management platform for construction projects. Using mobile phones and tablets, construction companies, suppliers and project managers can document the progress of work as well as flag
- [3Things: BB Centrum's new name, booming industrial, and an Avison Young hire](https://theprime.cz/news/3things-bb-centrums-new-name-booming-industrial-and-an-avison-young-hire/) - Prague’s industrial market is seeing rental growth of around 12%, one of the fastest rates in Europe. Savills reports that just London (25%) and Dublin (17%) achieved quicker growth in 2021. “The pandemic-driven e-commerce boom continued in the Czech Republic, where the sector accounted for at least 23% of the fourth quarter net take-up,” says
- [Nick Cotton: Leaving Kyiv](https://theprime.cz/news/companies/nick-cotton-leaving-kyiv/) - Among the thousands of Ukrainians to have coming streaming over the western border of their country following Russia’s invasion of their country was Nick Cotton, an Englishman who also considers Ukraine home. The story of him fleeing Kyiv as war engulfed it had spread around Central Europe’s real estate community, with friends and acquaintances watching
- [3Things: PSN in P6, euro accounting by 24, and Prague property deals](https://theprime.cz/sectors/residential/3things-psn-in-p6-euro-accounting-by-24-and-prague-property-deals/) - The developer PSN has begun the careful reconstruction of an apartment building on Studentska street in Prague 6 in a project it’s named BackYard Dejvice. The work will result in the creation of forty 1- to 2-bedroom units, of which just half are still for sale. Two of the units have front yards, while the
- [Radim Bajgar (Mint Investments): Time to finance in euro?](https://theprime.cz/news/finance/radim-bajgar-mint-investments-time-to-finance-in-euro/) - You’ve long been nervous about the rising levels of public debt in the Czech Republic. Why do you think rising CZK interest rates will help? Because at least in our country I think the budget will not be as ballistic as it was over the past two years. The new government will be very reasonable
- [Hines core fund acquires key logistics assets from CPI Property Group](https://theprime.cz/news/real-estate-investment/hines-core-fund-acquires-key-logistics-assets-from-cpi-property-group/) - Hines has acquired a portfolio of four fully-let logistics assets from CPI Property Group on behalf of its Hines European Core Fund (HECF). Located in Brandýs nad Labem, Vestec and Jažlovice, key occupiers of the portfolio include Continental Automotive, Boels and Mapei. In all, the deal was for 65,960 sqm of space, however the price
- [3Things: Office and mortgage markets slowing, masks coming off](https://theprime.cz/sectors/offices/3things-office-and-mortgage-markets-slowing-masks-coming-off/) - The total size of Prague’s modern office stock rose to 3.73 million sqm as of the end of 2021, as just a single new building (Viktoria Center in Prague 3) came online during the final quarter of the year. It was a sleepy end to a very slow 2021 in which just 56,800 sqm of
- [Investika acquires Adient warehouse near Wroclaw from Belgian fund](https://theprime.cz/news/real-estate-investment/investika-acquires-adient-warehouse-near-wroclaw-from-belgian-fund/) - The Czech retail real estate fund Investika has acquired a logistics warehouse near Wroclaw for roughly CZK 1 billion from a Belgian investment fund. Hospodářské noviny reports it completed the deal in partnership with the Luxembourg investor Bud Holdings. It’s rented by the car seat producer Adient. “We haven’t given up on the Czech Republic,
- [Passerinvest prepares Roztyly Community Center for Ukrainian refugees](https://theprime.cz/news/passerinvest-prepares-roztyly-community-center-for-ukrainian-refugees/) - Passerinvest has built the Roztyly Community Center, a temporary modular structure that’s been set up for use by Ukrainian mothers and children. It’s been equipped to be able to offer space for child care, socializing, education and as a contact point for support programs. Passerinvest cooperated on the project with Prague 11 and the Help
- [PDS: 2nd round of Prague 5 rental flat architecture competition begins](https://theprime.cz/architecture/pds-2nd-round-of-prague-5-rental-flat-architecture-competition-begins/) - Three Czech and two foreign studios have gone through to the second round of an architectural competition for a city-led residential project in Prague 5 - Smíchov. The investor, Pražská developerská společnost (PDS) is developing a building with 50 rental flats and retail space on the ground floor. A 12-member jury chose the following studios
- [Radim Passer: Office rents have to rise](https://theprime.cz/news/leases/radim-passer-office-rents-have-to-rise/) - I spoke with Radim Passer at an event that unveiled the company's new logo and at which he announced that BB Centrum would be renamed. The event also marked the Passerinvest's 30th anniversary, so he used the opportunity to remind people how beneficial for the Czech economy the work of developers is. Along with creating
- [New Podcast episode! Nick Cotton (C&W Ukraine) on fleeing Kyiv](https://theprime.cz/multimedia/podcasts/theprime-pod-nick-cotton-cw-ukraine-on-fleeing-kyiv/) - Many people in Central Europe have heard how Nick Cotton was forced to flee Kyiv after the Russians invaded Ukraine over a month ago. In this episode of ThePrime Pod, you can hear his story first-hand, as I was able to speak with the head of Cushman & Wakefield Ukraine from the flat in Budapest
- [Michael Smithing: We're doing hybrid office wrong, and it's time to admit it](https://theprime.cz/sectors/offices/michael-smithing-were-doing-hybrid-office-wrong-and-its-time-to-admit-it/) - I ran into Michael Smithing in Prague just over a week ago. As we sat down for a chat, I expected to be speaking to him about New Work’s plans for expanding service in the city. Instead, he told me about his decision to leave New Work. Never one to shy away from speaking hard
- [3Things: Panattoni & Accolade in SK, cars in RU, Savills & ARAM at Bořislavka](https://theprime.cz/sectors/offices/3things-panattoni-accolade-in-sk-cars-in-ru-savills-aram-at-borislavka/) - REICO has appointed Savills and ARAM as property managers for its Prague office complex Bořislavka. Located in Prague 6 along Evropská třída, it includes 30,000 sqm of office space and nearly 10,000 sqm of retail. There’s also in excess of 4,000 sqm of public space to look after. REICO’s ČS Nemovitostní Fond acquired the property
- [Calls begin for Czech state to seize Russian oligarch properties](https://theprime.cz/news/calls-begin-czech-state-to-seize-russian-oligarch-properties/) - The Czech deputy Minister of Interior Lukáš Kolářík let it be known on Twitter that the country shouldn’t be tolerating Russia’s economic elite using Czech properties as a way to protect their assets. He wrote: “We should be seriously thinking about ways to confiscate Putin’s oligarchy the real estate they have on Czech territory and
- [Heimstaden makes 500 flats available to Ukrainian refugees](https://theprime.cz/news/companies/heimstaden-makes-500-flats-available-to-ukrainian-refugees/) - Heimstaden has made 500 flats available in the Czech Republic that it says can provide shelter for up to 2,000 people. At the same time, it’s looking for ways to help take care of family members of its own staff who are from Ukraine. It made this offer last Thursday saying it will attempt to
- [Crestyl buys majority of Red Group resi scheme in Prague 5](https://theprime.cz/news/real-estate-investment/crestyl-buys-majority-of-red-group-resi-scheme-in-prague-5/) - Red Group has sold most of the residential project it’s been developing in Prague 5’s Jinonice district along Radlická street to Crestyl. In all, the project called for the construction of 200 units in a series of five separate buildings of differing heights. But in the end, says director Richard Ness, the company decided to
- [Lincoln Property Company unveils The Form in Warsaw](https://theprime.cz/sectors/offices/lincoln-property-company-unveils-the-form-in-warsaw/) - Lincoln Property Company should make its return to development in Poland, with construction on its office project The Form expected to begin in the second half of this year. Located in Warsaw’s Wola district at the junction of Miedziana and Pańska streets, The Form will offer nearly 31,000 sqm of space on nine storeys. This
- [Veni, vidi, vici: CPI Property Group's takeover of Immofinanz approved](https://theprime.cz/news/companies/veni-vidi-vici-cpi-property-groups-takeover-of-immofinanz-approved/) - It’s being reported that CPI Property Group has completed the acquisition of 48% of the shares in Immofinanz, following approval by the anti-monopoly agencies in eight countries. In a series of blockbuster deals, Radovan Vitek’s property company acquired the 7% shareholding of Petrus Advisers, Peter Korbačka’s 11% stake and the 12.7% that had been held
- [Tomáš Macura: It's all about quality of life (even the architectural competitions!)](https://theprime.cz/sectors/offices/tomas-macura-its-all-about-quality-of-life-even-the-architectural-competitions/) - I've been interviewing Ostrava's mayor Tomáš Macura at MIPIM for years now, but it was always in connection with industrial zones or technology parks the city was promoting. Having not seen him since the last MIPIM in 2019, I found myself interested in the (seemingly) sudden rush of public architectural competitions that keep putting the
- [Leading women's views on International Women's Day](https://theprime.cz/news/leases/leading-womens-views-on-international-womens-day/) - Dana Bartoňová, Sales Director (YIT Stavo) What is the meaning of MDZ for you and why do you think it's important? What do you think its message should be? My main memory of this holiday is from childhood. It was really celebrated at that time and my father never forgot to bring my mother flowers and I always
- [CTP donates €10 million to UN Refugee Agency](https://theprime.cz/news/companies/ctp-donates-e10-million-to-un-refugee-agency/) - CTP is the latest Central European-based property company to step up and contribute to help contend with the unfolding humanitarian catastrophe in Ukraine. It's committed the enormous sum of €10 million to the UN refugee agency UNHCR to provide humanitarian support for the more than one million people, mainly women and children, who have fled
- [Sharry achieves liftoff as J&T Ventures takes 10% stake](https://theprime.cz/smart-development/proptech/sharry-achieves-liftoff-as-jt-ventures-takes-10-stake/) - J&T Ventures has committed to investing millions of euro in Czech-based proptech Sharry in return for a 10% stake in the company. Sharry provides digital solutions for facility management and mobile access to modern offices. Its breakthrough came in 2019 when it was chosen by SL Green Realty to deploy its digital platform in a
- [Colliers advises Bosch Termotechnika on factory sale](https://theprime.cz/news/real-estate-investment/colliers-advises-bosch-termotechnika-on/) - ISMM Production and Business Cooperation has acquired the Bosch Termotechnika industrial manufacturing facility in Město Albrechtice. Colliers advised the vendor in the sale of the facility, which comprises 15 manufacturing and storage buildings totaling 14,000 sqm of space. Konstantin Cordery of Colliers said the property is located on a 4 ha plot that was used
- [Old acquaintances unforgotten at ThePrime's 1st mixer](https://theprime.cz/prague/old-acquaintances-unforgotten-at-theprimes-1st-mixer/) - Many thanks for everyone (and it was nearly everyone) who turned up over the course of the evening. It was a bit of respite from the onslaught of daily events and a relief at last to see so many familiar faces together. If it weren't for the school holidays, even more people would have shown
- [Subscribers invited for March 3 business mixer](https://theprime.cz/news/subscribers-invited-march-3-business-mixer/) - Thanks to everyone who came! https://theprime.cz/features/prague/old-acquaintances-unforgotten-at-theprimes-1st-mixer/ Want to come but haven't subscribed yet? Just shoot me an email at robert at theprime dot cz.
- [Portivo acquires SmichOFF for over CZK 1bn from Penta](https://theprime.cz/news/real-estate-investment/portivo-acquires-smichoff-for-over-czk-1bn-from-penta/) - The Brno-based investor Portiva has expanded its real estate portfolio with the purchase of SmichOff, a state-of-the-art office building completed in 2019 in Prague’s 5th district. It was acquired from the building’s developer, Penta Real Estate for a price that Seznam.cz is reporting exceeded CZK 1 billion. Portiva’s executive director Pavel Svoren described real estate
- [3Things: Record resi permits, resi starts and Slovak industrial](https://theprime.cz/prague/3things-record-resi-permits-resi-starts-and-slovak-industrial/) - It’s been ages since Prague’s residential market had some good news, but last year developers secured construction permits for 9,698 apartments. According to the Czech Statistics Office, that’s 5,353 more than in 2020 and the most since 1997. It’s a significant achievement, because Prague’s population has been growing by roughly that number of people on
- [Realpad solution gaining CEE dominance](https://theprime.cz/smart-development/proptech/realpad-solution-gaining-cee-dominance/) - Realpad was always well-placed to take advantage of the rise of institutional BTR investors. For years, it’s been building its client base across Central Europe by working with developers of classic build-to-sell projects. Such has been the company’s success that at this point “we don’t announce every new customer,” says head of sales Roman Ptáček.
- [Alexandra Tomášková named CEO of JRD Land](https://theprime.cz/sectors/residential/alexandra-tomaskova-named-ceo-of-jrd-land/) - The residential developer JRD has the appointment of Alexandra Tomášková as CEO of its subsidiary JRD Land. The company has CZK 2.2 billion in signed acquisition contracts for land that she’ll be in charge of preparing for sustainable development. The goal is to have a portfolio of construction parcels worth CZK 15 billion prepared for
- [Clare Sheils (CBRE) on ThePrime Pod: Valuations and the Changed Workplace](https://theprime.cz/news/companies/clare-sheils-cbre-on-theprime-pod-valuations-and-the-changed-workplace/) - This was a genuine conversation with Clare Sheils that took place in one of the few available meetings rooms in CBRE's Prague office (not in some sound-proof studio). Sheils spoke candidly and insightfully for ThePrime Pod about her experience of guiding the company through the Covid-19 pandemic. And she didn't get tripped up by a
- [Martin Balaž (Prologis): Rising prices for land and construction means higher rents](https://theprime.cz/news/companies/martin-balaz-prologis-rising-prices-for-land-and-construction-means-higher-rents/) - Prologis concentrates on major markets, so you’re only interested in building in prime locations like Brno, Pilsen and Prague. You’re currently building 34 kilometers down the D1 motorway. How far does Prague extend? I would say that four or five years ago, we probably wouldn’t be looking at the land at Exit 34. We entered
- [Savills advised on disposal of 35,000 sqm Coral Office Park](https://theprime.cz/news/real-estate-investment/savills-advised-on-disposal-of-35000-sqm-coral-office-park/) - Savills has revealed new details about the sale of Coral Office Park in Prague to Mint Investments in which it acted for the vendor – a fund managed by the Real Estate Group of Ares Management, and its local partner Portland Trust. The 35,000 sqm complex is made up of four independent office buildings and
- [Colliers Conversations: Czech investors target Poland for expansion](https://theprime.cz/multimedia/podcasts/colliers-conversations-czech-investors-target-poland-for-expansion/) - Czech investors have become a dominant force on the local real estate market. But increasingly, they're flexing their economic muscle abroad. Especially in Poland. I spoke about the Czechs-in-Poland trend with Mark Richardson on the new episode of the Colliers Conversations podcast. The new Head of the Investment and Industrial teams says the pandemic opened
- [CTP storms into German market with 1.7 million sqm acquisition](https://theprime.cz/news/companies/ctp-storms-into-german-market-with-1-7-million-sqm-acquisition/) - CTP completed the takeover and delisting offer today for DIR (Deutsche Industrie REIT-AG). The transaction adds 1.7 million square meters of GLA to CTP’s European portfolio, and nearly 4 million sqm of new development land. In a single stroke, it brings the German portion of the industrial developer’s portfolio to 15% and makes it the
- [Bryan Wilson steps down from active management at Wilsons](https://theprime.cz/news/leases/bryan-wilson-steps-down-from-active-management-at-wilsons/) - Wilsons, which just celebrated its 15 years anniversary of activity on the market, has confirmed that Bryan Wilson is stepping down from active management of the law firm he co-founded in 2007. There’s been no information released as of yet as to what comes next for the British lawyer, who will continue to be available
- [3Things: Today's rate hike, AFI Europe and the construction law](https://theprime.cz/urban-planning/3things-todays-rate-hike-afi-europe-and-the-construction-law/) - Czech interest rates have been climbing steadily for the past year, as the central bank overlords try desperately to strangle the inflation beast. In the interests of brevity, let’s just say it’s not working. Interest rates shot up from 0.25% to 3.75%, but as of December 2021, inflation was running at 6.6%. As a result,
- [3Things: SK Antimonopoly investigates RE portals, Kusch CFO at P3, Herrys survey results](https://theprime.cz/sectors/residential/3things-sk-antimonopoly-investigates-re-portals-kusch-cfo-at-p3-herrys-survey-results/) - P3 Logistics Parks has appointed Thilo Kusch as CFO, a new position within the company that’s intended to help the company expand within capital markets, as well as further strengthen its operations and reporting. He brings 30 years of capital market experience with him, including a focus on transformation and corporate innovation in medium-sized and
- [Resistance is futile...CPI buys S-Immo's shares in Immofinanz](https://theprime.cz/news/finance/resistance-is-futile-cpi-buys-s-immos-shares-in-immofinanz/) - In more Czech business mogul news, Radovan Vitek continues to rip up the old order in Vienna with his impressive takeover of Immofinanz. CPI Property Group announced it acquired over 17.5 million additional shares in the company from S-Immo, another Austrian property company. S-Immo had tried to slow the CPI bulldozer by offering to buy
- [Savills pens association agreement with Modesta in Vienna](https://theprime.cz/news/companies/savills-pens-association-agreement-with-modesta-in-vienna/) - Savills has expanded its reach in CEE by concluding an association agreement with Vienna-based Modesta Real Estate. Modesta’s office in Bratislava will be in close contact with Savills in Prague to coordinate service delivery in Slovakia, says Stuart Jordan, head of Savills in Czech Republic. Modesta Real Estate was founded in Vienna in 2002. Its
- [Prague approves developer contributions for planning changes](https://theprime.cz/urban-planning/prague-approves-developer-contributions-for-planning-changes/) - Prague’s city hall approved new rules governing mandatory developer contributions at the end of last week in return for planning. It’s the result of more than two years of negotiations between the city’s governing parties that sometimes looked as if it were heading nowhere. And yet the guiding principle is simple: land with valid planning
- [Jan Čižínský lashes out over Džbán swimming complex closure](https://theprime.cz/sectors/residential/jan-cizinsky-lashes-out-over-dzban-swimming-complex-closure/) - Prague 7’s mayor Jan Čižínský fired the first artillery shots in the upcoming battle for control of Prague City Hall. By the looks of it, the political temperature is rising quickly and the elections this fall will be hard fought. And it was the Šárka park in Prague 6 Čižínský aimed his Facebook cannon at.
- [3Things: RSJ & Panattoni, Džbán closed, new construction law drama](https://theprime.cz/sectors/industrial-logistics/3things-rsj-panattoni-dzban-closed-new-construction-law-drama/) - Here we go again. The new Czech government is taking another swipe at killing off the concept of a central construction office for the entire country. That institution theoretically came into being at the beginning of the year under the construction law passed by the last government. It remains a paper tiger, however, because the
- [Immocap: Novy Istropolis can work with or without state support](https://theprime.cz/news/project-news/immocap-novy-istropolis-can-work-with-or-without-state-support/) - The developer Immocap has run into headwinds over its plans to build a new cultural center in place of the current Istropolis building. The issue is the fact that Immocap’s project (called Novy Istropolis) was recommended for government support to realize its goal of building a major new congress center. The congress events company Incheba
- [CPI's Immofinanz takeover boosted by shares from Petrus Advisors](https://theprime.cz/news/companies/cpi-immofinanz-takeover-petrus-advisors/) - CPI Property Group has signed a conditional share purchase agreement with Petrus Advisors to acquire its 6.81% shareholding in the Austrian property company Immofinanz. That's an important step in CPI's Immofinanz takeover campaign since it picks up another 6.81% of the company. In all, CPI now controls over 35% of the company’s total registered nominal
- [3Things: EQT Exeter picks Savills, stricter mortgage rules, and Blážek's designer sweatpants](https://theprime.cz/news/companies/3things-eqt-exeter-picks-savills-stricter-mortgage-rules-and-blazeks-designer-sweatpants/) - EQT Exeter picked Savills as its property manager for its first Czech acquisition, which is a pair of logistics parks totaling 140,000 sqm near Ostrava. Logistics Park Nošovice consists of three modern industrial halls with a total area of 63,800 sqm of warehouse space and 6,500 sqm of potential expansion. Ostrava Airport Multimodal Park is
- [CTP secures €700m in green bond as rates inch upwards](https://theprime.cz/news/finance/ctp-secures-e700m-in-green-bond-as-rates-inch-upwards/) - CTP closed a €700 million four-year green bond under its €8 billion medium-term note (EMTN) program. Demand peaked at €1.3 billion for the issue, suggesting CTP’s reputation among green bond investors is solid. It entered the capital markets for funding 15 months ago. Still, the company is not immune from larger market forces, as this
- [3Things: Mint Investments fund buys Coral Office Park, mortgage hikes & Bosch](https://theprime.cz/sectors/offices/3things-mint-investments-fund-buys-coral-office-park-mortgage-hikes-bosch/) - An investment fund of Mint Investments group has acquired the 35,000 sqm Coral Office Park above the Nové Butovice metro station at an acquisition yield of over 6.5%. The building is currently 95% leased to strong tenants such as LeasePlan, Kühne & Nagel, New Work and Škoda Transportation at rents that are below €14. Mint
- [Fred Hlobil: There are no shortcuts to experience](https://theprime.cz/news/companies/fred-hlobil-there-are-no-shortcuts-to-experience/) - Fred Hlobil set up FH+ Real Estate a year ago following a 25-year stint at Cushman & Wakefield. He moved into the company’s new offices in central Prague right at the end of 2021, where ThePrime caught up with him for a debut interview. What was it like to leave the company after so long,
- [Martin Rapos (Akular): Digitized construction is already happening](https://theprime.cz/smart-development/proptech/martin-rapos-akular-digitized-construction-is-already-happening/) - Digitization has finally arrived in the construction and real estate sectors, spurred on in part by the pandemic that swept across the world in 2020. We tend to hear a great deal about the rise of prop tech companies whose products help building owners improve the user experience of their tenants. But it’s the digitization
- [ČEZ ESCO acquires Czech office design specialist Capexus](https://theprime.cz/news/companies/cez-esco-acquires-office-design-specialist-capexus/) - ČEZ ESCO has acquired the Prague-based office interiors company Capexus for an undisclosed sum. ČEZ ESCO, which focuses on energy services (including decarbonizing and energy consultations and energy audits) currently has around 2,000 employees. Capexus designs and delivers energy-efficient office space and helps revitalize older commercial buildings. The motivation to acquire it is based on
- [Prague Development Company (PDS) tendering for apartment building design](https://theprime.cz/sectors/residential/prague-development-company-pds-tendering-for-apartment-building-design/) - The Prague Development Company (PDS) is preparing to build two multifunctional rental apartment buildings on empty, city-owned lot at the corner of Zenklová and Libeň bridge. While the primary purpose of the buildings will be residential, the first two levels are to be used for retail and office space. PDS has launched a tender for
- [Flats in JTRE's Bratislava project Klingerka approved for use](https://theprime.cz/news/flats-in-jtres-bratislava-resi-project-klingerka-approved-for-us/) - The owners of new flats in J& Real Estate’s lastest residential project Klingerka can begin moving in soon, now that authorities have issued its useage permit. Begun back in March 2019, the building takes the mantle of the city’s tallest residential building (116 meters), having topped out at 35 floors in November 2020. Down below
- [3Things: CPI's sustainability-linked bonds, Palace Broadway for sale, and Dan Ledvinka](https://theprime.cz/news/finance/3things-cpis-sustainability-linked-bonds-palace-broadway-for-sale-and-dan-ledvinka/) - CPI Property Group has issued €700 million in sustainability-linked bonds with an annual coupon of 1.75% that come due in 2030. The bonds are subject to a step-up margin of 0.25% for the final two years if CPI fails to achieved a reduction in GHG emissions intensity of 22% by the end of the 2027.
- [Cheaper mortgages for greener homes...and vice-versa](https://theprime.cz/news/finance/cheaper-mortgages-for-greener-homes-and-vice-versa/) - Home buyers are going to start seeing cheaper mortgages for greener buildings as a result of new EU regulations. The flip side of this is that most residential real estate in the country will become more expensive to finance, as only real estate built in the past few years have the A, B or C
- [They tried hard, but inflation & Covid couldn't kill retail growth in 2021](https://theprime.cz/sectors/retail/they-tried-hard-but-inflation-covid-couldnt-kill-retail-growth-in-2021/) - Following strong-o-y growth in October (6%), Czech retail revenues shot up another 13.2% in November. It’s being described as the biggest surge in spending for 20 years by some, but the horrendous results from 2020’s lockdown infested year clearly had an impact on this. What’s remarkable is the continuing demand for consumer goods despite rising
- [Panattoni to finish new space for DRFG Real Estate fund by summer](https://theprime.cz/sectors/industrial-logistics/panattoni-to-finish-new-space-for-drfg-real-estate-fund-by-summer/) - Panattoni has begun construction on the next phase of Panattoni Park Týniště in the northeast of the Czech Republic. The project’s investor is DRFG Real Estate’s fund Czech Real Estate Investment Fund (CREIF). This latest phase of the project will add 26,000 sqm of leasable space in two buildings, bringing the park’s total GLA to
- [Harry Bannatyne joins CTP](https://theprime.cz/sectors/industrial-logistics/harry-bannatyne-join-ctp/) - CTP has appointed Harry Bannatyne as its Group Head of Client Relations. He'll continue to be based in Prague, where he's spent the past several years as a partner and Regional Director Industrial at Colliers. Prior to Colliers, Bannatyne held a similar position for JLL covering the Czech and Slovak markets. CTP's CEO Remon Vos
- [Pavel Sovička (Panattoni): Protect value by thinking sustainably](https://theprime.cz/sectors/industrial-logistics/pavel-sovicka-panattoni-protect-value-by-thinking-sustainably/) - Pavel Sovička remembers the surprised reactions Panattoni got from Amazon eight years ago when from they proposed to build a green certified building in Dobroviz, just outside Prague. Today, of course, Amazon wouldn’t do it any other way, but sustainable credentials were only beginning to look like a major issue for commercial properties back then.
- [Fidurock targets portfolio of 2,000 rental flats](https://theprime.cz/news/companies/fidurock-targets-portfolio-of-2000-rental-flats/) - The private equity group Fidurock has set itself the goal of growing its rental apartment portfolio from 250 to 2,000 units by 2026, according to its executive director Ondřej Křivanec. The investment boutique’s portfolio is currently dominated by retail parks, but Křivanec says it’s in the process of finalizing another 150 rental units and already
- [CPI vs S Immo in fight for control of Immofinanz](https://theprime.cz/news/companies/cpi-vs-s-immo-in-fight-for-control-of-immofinanz/) - A fight for control of the property company Immofinanz kicked off on either side of the weekend. On Friday Dec. 3, CPI Property Group announced it wanted to buy all outstanding shares of the company at a price of €21.20. That was the price that shares in Immofinanz sold for at the end of business
- [Retail pushes 2021 Slovak investment back above pre-pandemic levels](https://theprime.cz/news/real-estate-investment/retail-pushes-2021-slovak-investment-back-above-pre-pandemic-levels/) - Real estate investments climbed above €750 million in 2021, more than was traded in 2019. The majority of the deals (€552 worth) was completed in the first six months of the year. That's more than the volume achieved over the entirety of 2020. Cushman & Wakefield Slovakia writes that a good deal of that was
- [Court victory means Pražská tržnice modernization can move forward](https://theprime.cz/sectors/retail/court-victory-means-prazska-trznice-modernization-can-move-forward/) - The City of Prague has regained control over the Pražská tržnice marketplace in Holešovice – Prague 7 after a court case with the current tenant that dragged on for nearly 10 years. The finding clears the way for reconstruction of the huge complex to move ahead more quickly. Prague won its case already two years
- [3Things: Kretinsky and Aareal, CZK breaking records, and auto-Coop stores](https://theprime.cz/news/finance/3things-kretinsky-and-aareal-czk-breaking-records-and-auto-coop-stores/) - The Czech business mogul Daniel Kretinsky has spent the last few months strengthening his position in the German real estate specialist bank Aareal. As of October, he held just over 3% of the company’s shares but official filings show that this has since risen to 7.8%. At the same time, the investment groups Advent International
- [Flood of new residents drives Prague's housing crisis](https://theprime.cz/sectors/residential/flood-of-new-residents-drives-pragues-housing-crisis/) - When it comes to understanding Prague’s runaway residential prices, a local urban myth keeps getting in the way: that 10,000 people are moving into the city each year. It sounds impressive, but it’s not even close. Because in actual fact, around 40,000 people arrive in Prague every year, while another 30,000 leave. Martin Červinka of
- [Fraser Watson (Savills): Hedging costs on Czech income could slow the market](https://theprime.cz/sectors/offices/fraser-watson-savills-hedging-costs-on-czech-income-could-slow-the-market/) - Do you find it odd that we’re going into the third year of a pandemic that’s thrown office workplace strategies into chaos…and yet yields have barely budged? Yields are generally the reflection of demand and perception of value from buyers in the market. Office yields have gone up fractionally from 3.9% to 4.1%. However, if
- [UBM secures occupancy permit for Hotel Andaz Prague](https://theprime.cz/news/project-news/ubm-secures-occupancy-permit-for-hotel-andaz-prague/) - UBM Development has received the use permit for the Andaz hotel on Senovážné nám. in central Prague. Completion work on the “Sugar Palace” building in which it’s located is still ongoing (primarily fitouts and restorations), but the 176-room hotel should soon be ready for a soft opening. Fitouts of the ground floor rental units are
- [3Things: Record mortgages, airport restaurant crash and EU's nuclear dilemma](https://theprime.cz/sectors/retail/3things-record-mortgages-airport-restaurant-crash-and-eus-nuclear-dilemma/) - Restaurants in Prague haven’t had an easy time of it during the pandemic, but it’s no picnic at the city’s airport either. E15 writes that Ranchero Food has been forced to close after falling behind on its rent of CZK 700,000 per month. In all, writes the paper, the airport claims to be owed CZK
- [Heimstaden, Oaks Prague & the return of employee testing](https://theprime.cz/news/companies/3things-heimstaden-oaks-prague-the-return-of-employee-testing/) - 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
- [Křetínsky buys Brno's main bus station Zvonařka](https://theprime.cz/news/real-estate-investment/kretinsky-buys-brnos-main-bus-station-zvonarka/) - The Czech business mogul Daniel Křetínsky has acquired Brno’s Zvonařka bus station through his property company EP Real Estate. According to the website Zdopravy.cz, this follows a transaction in which he acquired the bus transport company Tourbus, which owned the station. In 2020, Tourbus made a loss of CZK 7.5 million (on revenues of CZK
- [JTRE and Incheba hit out against process for choosing new congress center](https://theprime.cz/urban-planning/jtre-and-incheba-hit-out-against-process-for-choosing-new-congress-center/) - J&T Real Estate (JTRE) and Incheba have complained about the process through which the state is choosing the location for its new cultural and congress center (OZ NKKC). A working group established to settle the matter recommended Novy Istropolis, a project by the developer Immocap. The Ministry of Finance’s Value for Money department (UHP) audited
- [Mortgage markets shudder as CNB raises base rate to 3.75%](https://theprime.cz/news/finance/mortgage-markets-shudder-as-cnb-raises-base-rate-to-3-75/) - The Czech National Bank raised rates by a full percentage point to 3.75% yesterday, outstripping the general consensus that a 75 bps increase would be enough. For some reason, the television pundits last night looked amazed by the move, but the CNB adopted its Shock & Awe strategy back in September, with an impressive willingness
- [EQT Exeter buys 140,000 sqm of Ostrava logistics from J&T/Concens](https://theprime.cz/news/real-estate-investment/eqt-exeter-buys-140000-sqm-of-ostrava-logistics-from-jt-concens/) - J&T and Concens Investments have sold five logistics halls in Ostrava offering 140,000 sqm of class A space. CBRE advised the vendors in the €150 million transaction with the investor EQT Exeter. The warehouses are located in two industrial parks: Logistics Park Nošovice and the Ostrava Airport Multimodal Park located in Mošnov. Katarina Brydone (CBRE)
- [3Things: Logicor, Moneta + Air Bank, Europe's energy crisis](https://theprime.cz/news/finance/3things-logicor-moneta-air-bank-europes-energy-crisis/) - Logicor has completed a new warehouse facility in Mogoșoaia, Romania. The 38,000 sqm Building D is already fully leased, meaning that Logicor Bucharest I logistics park now totals four buildings offering 125,000 of floorspace. Tenants are from a variety of sectors including FMCG (Kaufland Romania, Top Line Distribution, B&B Romania), Pharma (Fildas Romania), logistics and
- [Mark Robinson: 9 reasons inflation-deniers are defying reality](https://theprime.cz/news/finance/mark-robinson-9-reasons-inflation-deniers-are-defying-reality/) - Back in May, I spoke with Mark Robinson of Encor Wealth Management about the worrying signs of inflation. At the time, we didn’t know that developers in Prague and Bratislava were already beginning to have serious problems getting subcontractors and suppliers to commit to delivery times and set prices. But the monthly statistics were already
- [CPI sells €700 million in Central European RE assets](https://theprime.cz/news/real-estate-investment/cpi-sells-e700-million-in-central-european-re-assets/) - Having warned the market over the summer that it would be selling off around €1 billion in non-core property assets, CPI Property Group has gone and done it. Or at least a big portion of it. According to an official filing, the company signed off on disposals worth around €700 million, with net proceeds following
- [Introducing ThePrime Pod! Featuring Pavel Sovička (Panattoni)](https://theprime.cz/multimedia/podcasts/introducing-theprime-pod-featuring-pavel-sovicka-panattoni/) - It's taken me a year of publishing, but I'm thrilled to be able to unveil the first episode of my real estate podcast ThePrime Pod. Getting this show on the road was just one of the new year's resolutions I made for the website in 2022. This debut episode is just over 10 minutes long
- [Portiva acquires Astrid Offices from UBM Development](https://theprime.cz/news/real-estate-investment/portiva-acquires-astrid-offices-from-ubm-development/) - UBM Development has sold Astrid Offices in Prague 7 – Holešovice to the Czech-based Portiva investment group. The 4,300 sqm building, which includes 440 sqm of retail space on the ground floor, is fully leased. Having received its occupancy permit in May, the building became the headquarters of UBM Development Czechia at the beginning of
- [108 Agency takes over BNP Paribas Real Estate CZ](https://theprime.cz/news/companies/108-agency-takes-over-bnp-paribas-cz/) - 108 Agency is taking over the Czech branch of BNP Paribas following negotiations that began during the summer. Thee price of the deal hasn’t been made public. “Following a very successful launch last year of our office in Hungary in the midst of the pandemic, we’re glad to have succeeded in this strategic acquisition, which
- [New podcast episode: Sportisimo goes to Ostrava!!!](https://theprime.cz/news/leases/new-podcast-episode-sportisimo-goes-to-ostrava/) - In the third episode of Colliers Conversations (click here to listen), I speak some of the players who took part in Sportisimo's move from Rudna outside of Prague to Ostrava. It's a great case study that illustrates current trends now influencing the Czechs industrial real estate market. Like, Prague's running out of room at a
- [IBF Seminar: Hospitality in Crisis](https://theprime.cz/news/leases/ibf-seminar-hospitality-in-crisis/) - The International Business Forum (IBF) reconvened on November 10 for a day of discussions about an industry decimated by the pandemic. Entitled “Hospitality in Crisis,” the program featured an excellent line-up of speakers that provided real-life insights into the challenges their businesses endured, as well as what’s coming. Others offered analysis of what the hotel
- [3Things: Lucron's competition, Savills Q3 numbers, Obermeyer Helika's P+R](https://theprime.cz/news/companies/3things-lucron-competition-savills-q3-number-obermeyer-helika/) - The Slovak developer Lucron has revealed the conditions for an urban design competition for its Nesto project. It’s to be built on a 47 ha plot near the Austrian border that’s intended to include residential space along with a full range of services, schools and leisure activities. Lucron expects architectural studios from around Europe to
- [Miroslav Linhart (Deloitte): Evergrande's crisis could spell trouble for China](https://theprime.cz/news/companies/miroslav-linhart-deloitte-evergrandes-crisis-spells-trouble-for-china/) - The Chinese real estate sector is under pressure. News of the growing trouble first hit the media at the end of September 2021 when the second largest Chinese development company Evergrande failed to make interest payments worth USD 131 million on two of its Eurobonds (offshore bonds). It ended up making both payments just before
- [Small is beautiful: Local gasification reactors an alternative to incinerators](https://theprime.cz/urban-planning/small-is-beautiful-local-gasification-reactors-could-replace-incinerators/) - The fourth generation of gasification reactors by Czech-based Millenium Technologies should become operational for waste processing by the end of Q2 2022. The reactors will provide a clean, decentralized alternative to the massive, smoke-belching incinerators that pollute most major cities. Board Member Marek Lang describes this fourth-generation reactor as the company’s first that’s suitable for
- [3Things: Fidurock's vineyard, surging mortgages and a white elephant's demise](https://theprime.cz/news/real-estate-investment/3things-fidurocks-vineyard-surging-mortgages-and-a-white-elephants-demise/) - Five years after buying the Zlati Gric vineyard, RSBC has sold its first Slovenian investment to Petr Valenta and David Hauerland, the owners of Fidurock. RSBC’s spokeswoman said there was no shortage of potential buyers but that with Valenta and Hauerland, the vineyard’s further growth was assure. Hauerland said they’ve been visiting the area for
- [Filip Polomský (MVGM): Signs of an office downsizing are growing](https://theprime.cz/sectors/offices/filip-polomsky-mvgm-signs-of-office-an-downsizing-are-growing/) - It’s now been two years since MVGM took over JLL’s European property management division. That means in view of the Covid-19 pandemic calendar, the company has had a true trial-by-fire introduction – especially in Central Europe. MVGM was already active in the Netherlands and Germany back in 2019. In Slovakia (as elsewhere), the transaction resulted
- [Three final leases complete Accolade's Brno Airport Park](https://theprime.cz/news/leases/three-final-leases-complete-accolades-brno-airport-park/) - The multimodal Brno Airport Park is now fully-leased, following deals with Erba Group, Noviko and Reda. The health products company Noviko (part of the Covetrus group) took 8,000 sqm, while Reda (which produces and sells marketing items) is leasing 4,600 sqm. Erba Lachema (part of the Erba Grup) produces equipment used for in vitro diagnostics.
- [Unit, A69 and Marko & Placemakers win urbanistic competition for Florenc](https://theprime.cz/urban-planning/unit-a69-and-marko-placemakers-win-urbanistic-competition-for-florenc/) - The three finalists in an international urbanistic competition for the area around Prague’s main bus station at Florenc presented their projects last night before a live audience. But it was the winning consortium led by Filip Tittl of Unit Architekti and Igor Marko (Marko & Placemakers) and A69 that attracted the most interest and questions
- [OM Consulting: Inflation strengthened the case for construction managers](https://theprime.cz/news/companies/om-construction-management/) - Construction inflation didn’t really emerge as a pressing topic until early this summer, when project managers began speaking worriedly about the rapid increase in prices for insulation, construction steel and other materials. But this was no surprise to Tomáš Černý, Head Cost Management in OM Consulting, who says construction price inflation began to spiral into
- [Rental residential in the spotlight at Prague Property Forum](https://theprime.cz/sectors/residential/rental-residential-in-the-spotlight-at-prague-property-forum/) - The Czech residential market has been growing steadily ever since mortgage loans became widely available in the early 2000's. But it's only in the past year or so that new rental projects have taken off. So, why now? That was one of my main questions for the residential panel at the Prague Property Forum last
- [Benthem Crouwel wins Velska's design competition for Olbrachtová station project in Pankrac](https://theprime.cz/sectors/offices/benthem-crouwel-wins-velskas-design-competition-for-olbrachtova-station-project/) - The developer Velska announced Benthem Crouwel as the winner of its architectural competition held for its project to be built at the planned D-line metro stop Olbrachtová in Prague 4. The competition attracted over 70 bids from Europe, North America and Hong Kong from which the jury (chaired by Radek Kolařik) selected five to take
- [Biggest number of new flats sold in Prague 4 and P9](https://theprime.cz/news/flat-zone-biggest-number-of-new-flats-sold-in-prague-4-and-p9/) - Prague 4 and Prague 9 saw the biggest number of new flat sales during the first three quarters of 2021, according to Flat Zone, with around 240 having been sold in each. They made up roughly 17% of the market, according to the residential analyst. It adds that, not surprisingly, the most expensive new units
- [3Things in Retail: Duty free down, Black Friday up, and new Covid compensation](https://theprime.cz/sectors/residential/3things-in-retail-duty-free-down-black-friday-up-and-new-covid-compensation/) - Anyone who managed to fly somewhere while it was still possible will have noticed the lack of lines at Prague’s airport’s duty free shops. They're run by Lagardere Duty Free, which had the misfortune of taking on a new lease in 2019. But while things are slow now, its 2021 results are unlikely to be
- [Career moves: Martin Řezanina, Lukáš Radouš, Katarzyna Lawinska](https://theprime.cz/sectors/offices/career-moves-martin-rezanina-lukas-radous-katarzyna-lawinska/) - Martin Řezanina has assumed the role of managing director at the development company Realism in a move that sees him take over executive responsibilities from the company’s owner Martin Hubinger. Řezanina joined Realism in the summer of 2019, taking over management of its development department. His duties included expanding the team and building its analytic
- [Companies ordered to test unvaccinated employees](https://theprime.cz/news/companies/companies-ordered-to-test-unvaccinated-employees/) - With daily infection numbers now breaking all previous records, the outgoing Czech government has announced a new series of measures to combat the Covid-19 pandemic. As in Austria and in Bavaria, the new measures have been designed to ramp up the pressure on the unvaccinated, without go so far as a full lockdown for everyone.
- [Scarcity: Average new Prague flats selling for CZK 140,000/sqm](https://theprime.cz/news/finance/scarcity-average-new-prague-flats-selling-for-czk-140000-sqm/) - Residential developers in Prague aren’t just running out of consumers who can (or will) pay the crazy prices flats are now offered at. They’re also running out of flats to sell, according to Flat Zone, which monitors and analyzes residential prices. It found that as of the third quarter of 2021, the number of available
- [3Things: Mortgage rate shocks, Germans blacklist Czechs, YIT](https://theprime.cz/news/3things-mortgage-rate-shocks-germans-blacklist-czechs-yit/) - Economists, companies and consumers are still coming to grips with the Czech Central Bank’s shock interest rate hike from last week. Those with no time to spare are bank clients who took out mortgages with a 5-year fixation in 2017, or anyone else whose rates change next year. David Eim (Gepard Finance) told SeznamZpravy that
- [Panattoni starts Amphenol Tuchel factory in Ostrov on brownfield site](https://theprime.cz/sectors/industrial-logistics/panattoni-starts-amphenol-tuchel-factory-in-ostrov-on-brownfield-site/) - Panattoni has begun construction on a brownfield site in Ostrov, where it’s developing a new industrial park. Having served in the past as a trolley bus factory serving the entire Eastern Bloc, the site will be transformed in the coming years into Panattoni Park Ostrov North. Panattoni’s director Pavel Sovička says the first 20,000 sqm
- [Lubor Prochazka (CBRE Slovakia): Asking prices for Bratislava offices slip below 5%](https://theprime.cz/sectors/offices/lubor-prochazka-cbre-slovakia-asking-prices-for-bratislava-offices-slip-below-5/) - Given how severely the crisis was all over central Europe, are you satisfied or surprised by the current level of investment in Slovakia? Has long-term damage been done particularly for Bratislava? We saw strong first-half of the year last year because some transactions were still concluding. But then the second half of the year was
- [Adamcová: Prague turns against mass tourism, targets premium visitors](https://theprime.cz/prague/adamcova-prague-turns-against-mass-tourism-targets-premium-visitors/) - It may sound incredible, but for the first time ever, Prague has a strategy for tourism. How can that be possible, in a city that was drowning visitors until March 2020? How could it simply be improvising? It turns out that mass tourism turns out to be the result of bad or simply non-existent planning.
- [Boulton-Smith (Marriott International): Hotels hit by severe staffing shortages](https://theprime.cz/projects/boulton-smith-marriott-international-hotels-hit-by-severe-staffing-shortages/) - William Boulton-Smith (Marriott International) has been general manager of the Marriott Hotel in downtown Prague since 2014 How long had you been planning the hotel’s reconstruction? We started to plan in 2018 and construction work started in July 2019 when we shut down the banqueting area. By the time the pandemic hit we were beyond
- [ČNB's shocking rate hike will strengthen CZK, weaken resi market](https://theprime.cz/news/finance/cnbs-shocking-rate-hike-will-strengthen-czk-weaken-resi-market/) - There was never any doubt that the Czech National Bank was going to raise its base interest rate last Thursday. It’s been paving the way for months now, inching rates up first in 25 bps increments. More recently it shocked some onlookers with a 75 bps jump. But last week’s 125 bps bombshell had the
- [Iterait pushes data transparency with AI-driven footfall tracker](https://theprime.cz/smart-development/proptech/iterait-pushes-data-transparency-with-ai-driven-footfall-tracker/) - The Czech proptech start-up Iterait began marketing an upgraded version of its Vividi footfall counter over the summer. The company's co-founder Adam Blažek says that the technology does a lot more than just count bodies by offering instant age and gender tabulation. Shopping malls owners have been able to count footfall numbers automatically for years
- [Prague residential developers crack down on investors](https://theprime.cz/sectors/residential/prague-residential-developers-crack-down-on-investors/) - Residential developers in Prague are beginning to take steps to block investors from buying up large chunks of their projects. This comes at a time when the city is running out of new apartments for sale, thanks in part to the transformation of residential as an investment vehicle. Skanska's Renata Vildomcová says the company has
- [Peter Nitschneider (JLL): More deals to come this year for Slovakia](https://theprime.cz/news/real-estate-investment/peter-nitschneider-jll-more-deals-to-come-this-year-for-slovakia/) - No one in Slovakia could have seen the pandemic coming or prepared for it. How have you managed the crisis and planning how to get out of it? In real estate it surprised everybody, but the companies who were very flexible from the beginning are the ones who are leading the way today. The majority
- [3Things: Savills & DRN, construction & permits, JLL & Dřízhalová](https://theprime.cz/news/companies/3things-savills-drn-construction-permits-jll-drizhalova/) - August construction output rose 1.2% y-o-y according to the Czech Statistics Office, but just 0.1% compared to July. The figures for construction permits were far more dramatic, however, as the number of construction permits jumped 7.6% compared to a year ago, while their estimated value was 31.4% up. But CSU's Petra Curinova warned about getting
- [3Things: Inflation here to stay, online food sales, office returns](https://theprime.cz/news/3things-inflation-here-to-stay-online-food-sales-office-returns/) - A recent study by CBRE of the EMEA zone finds that 65% of companies have re-opened all of their branch offices. But more than half continue to regulate the number of employees that come to work each day, with considerable differences depending on the size. Among those with fewer than 100 employees, 60% are allowing
- [New Novo Plaza app arrives in time for holiday shopping rush](https://theprime.cz/smart-development/proptech/new-app-arrives-at-novo-plaza-in-time-for-holiday-shopping/) - Last month, CBRE and Bluehouse Capital launched an app for Novo Plaza to mark the completion of more than a year of reconstruction work. Director Iain Fanthorpe says he would usually have held a grand re-opening to get people back into the center. But with the uncertainty over large events, this didn't make sense. Instead,
- [CBRE names Jiří Stránský Head of Sustainability](https://theprime.cz/news/companies/cbre-names-jiri-stransky-head-of-sustainability/) - CBRE's Prague office has named Jiří Stránský as its Head of Sustainability, where he will take part in creating and coordinating ESG strategies for the company's clients. CBRE is the latest international consultancy to make such an appoint in response to rapidly growing concerns over real estate's role in accelerating climate change. "Our goal is
- [GLP moving forward on multiple project fronts](https://theprime.cz/news/leases/glp-moving-forward-on-multiple-project-fronts/) - Years of preparation and planning by GLP's Czech development team has been paying off in recent days with building hand overs and construction starts. Workers installed the first pillar of the company's project in the Hrušov district of Ostrava on October 7 within a kilometer of the D1 motorway (and within two of the city
- [Avestus hands off to SHD plus conferences on hotels and rental resi](https://theprime.cz/sectors/residential/3things-avestus-hands-off-to-shd-plus-conferences-on-hotels-and-rental-resi/) - SHD Real Estate has been established as part of the restructuring of the Avestus Real Estate business. It will operated and managed by the original Prague-based Avestus Real Estate residential team. At the same time, Avestus will continue to focus on its existing commercial development portfolio (whose most recent addition is the Infinity office complex
- [3Things: Royal Apartments Aurum, Avison Young land Generali, Q3 industrial numbers](https://theprime.cz/news/companies/3things-royal-apartments-aurum-avison-young-land-generali-q3-industrial-numbers/) - The Luxent real estate company has launched sales on the third phase of its luxury mountain apartments project Royal Apartments Aurum in Černý Důl in the Krkonoše mountains. Construction should start next spring on the 53 new units, which will be handed over completely furnished. Completion is planned to allow them to be used by
- [Are the good times ending for industrial?](https://theprime.cz/news/companies/are-good-times-ending-for-industrial/) - Škoda Auto is responsible for 5% of Czech GDP on its own and produces 8% of the country’s total exports. In good times, those are impressive numbers. But if the company’s production is halted, say, because there’s a lack of chips, they become scary numbers. Given the country’s dependence on the Volkswagen subsidiary, Škoda’s warning
- [No new offices completed in Prague during Q3](https://theprime.cz/sectors/offices/no-new-offices-completed-in-prague-during-q3/) - No new office space hit the market in Prague during the third quarter of this year, with the full-year addition to the city’s office stock expected to be the lowest since 2016. According to figures just released by the Prague Research Forum, the third quarter also saw net absorption hit negative territory (-9,100 sqm). On
- [3Things: Penta, Kaprain & Sekyra buy in Dejvice, Revetas sell, Radka Novak named partner](https://theprime.cz/news/real-estate-investment/3things-penta-kaprain-sekyra-buy-in-dejvice-revetas-sell-radka-novak-named-partner/) - Penta Real Estate, Kaprain Group and Sekyra Group have completed the acquisition of a major land plot on Vítězné náměstí in Prague 6, otherwise known as the big roundabout in Dejvice. There’s been numerous groups who have tried to buy the plot from the VŠCHT university over the past couple decades, but none have been
- [Czechs struggling to match Poles for S3/D11 motorway hook-up](https://theprime.cz/news/project-news/czechs-struggling-to-match-poles-for-s3-d11-motorway-hook-up/) - Poland (a country that knows how to build roads) is progressing rapidly with the S3 motorway that will bring drivers to the border of the Czech Republic (a country that’s still trying to figure it out). The idea was that the S3 would link up to the D11 and run down to Hradec Králové. But
- [Pavel Velebil: Shock interest rate hike could help the market find a new balance](https://theprime.cz/sectors/residential/pavel-velebil-todays-shock-rate-hike-could-help-the-market-find-a-new-balance/) - Hours after the Czech Central Bank announced its shock rate hike on November 4, ThePrime asked Pavel Velebil (TIDE REALITY) for his reaction to the move and its potential impact on the residential market Today’s dramatic step by the Czech National Bank has two meanings. First, the bank wants to achieve higher rates for commercial
- [Lucie Loudová (Tétris): Modernizations are the key to any zero emissions future](https://theprime.cz/sectors/offices/lucie-loudova-tetris-modernizations-are-the-key-to-any-zero-emissions-future/) - Sustainability in construction and in architecture has become a reality. For investors, sustainability is one of the main criteria when making decisions about investments into the world of reality. Buildings that save natural resources and support the personal comfort and health of people, biophilia, cooperation and inclusion are becoming more attractive. But how do you
- [Flat Zone debuts Slovak residential analysis](https://theprime.cz/sectors/residential/flat-zone-debuts-slovak-residential-analysis/) - The residential analytics company Flat Zone has expanded its sphere of interest to Slovakia, which will make possible interesting like-for-like comparisons of the two markets. The company monitors the sale prices of individual apartments from the moment they’re published on a developer’s website. “The transparency of data is still rather low on these markets,
- [Martin Rapoš (Akular) promotes RE digitalization at Expo 2020 Dubai](https://theprime.cz/smart-development/proptech/martin-rapos-akular-promotes-re-digitalization-at-expo-2020-dubai/) - Akular co-founder Martin Rapos took part in the Smart Cities week at the Expo 2020 in Dubai in early November at the invitation of Globesec. He spoke in front of a large crowd on a panel of experts organized by Globesec, who chose Akular in part on the recommendation of its investors from the Crowdberry
- [Lukáš Litera (Colliers): Automated reception areas have arrived](https://theprime.cz/smart-development/proptech/lukas-litera-colliers-automated2-reception-areas-have-arrived/) - A building’s reception area is in many cases the first impression of a company that potential clients and current business partners will have. Do you remember the lobbies that truly impressed you? How they looked and if they functioned well? In the same way, you probably haven't forgotten those that did exactly the opposite. Smart
- [Demand for office reconstruction rising despite construction material inflation](https://theprime.cz/sectors/offices/demand-for-office-reconstruction-rising-despite-construction-material-inflation/) - The partial return to the office of employees along with the continued pandemic that’s worsened rapidly during the autumn are bringing with it new demands for changes to the working environment. Offices are becoming more flexible, with adaptive uses made possible by a hybrid model. It turns out that real life has confirmed recently-published research
- [Robert McLean to moderate residential panel at Prague Property Forum](https://theprime.cz/news/robert-mclean-to-moderate-residential-panel-at-prague-property-forum/) - Prague Property Forum is taking place on November 23, the fifth time Property Forum has held the real estate forum for real estate professionals in the Czech Republic. ThePrime.cz is joining the event this year as media partner, with founder Robert McLean taking on the role of moderator for a key panel on the residential
- [Koleilat role shifts at Crestyl to enable brand-consistent growth](https://theprime.cz/news/companies/koleilat-role-shifts-at-crestyl-to-enable-brand-consistent-growth/) - Gone are the days when writing an article about Crestyl automatically meant setting up an interview with its CEO Omar Koleilat. The company's activities are now so complex and wide-ranging that for most specific topics, there's a person that's more than qualified enough to discuss it. But that was exactly one of the topics I'd
- [Omar Koleilat: Crestyl's larger strategy is changing (Q&A)](https://theprime.cz/news/companies/omar-koleilat-crestyls-larger-strategy-is-changing-qa/) - I'm interested in that moment when you decided to take a step back. It obviously takes a leap of faith in the rest of your team to do that. But it also requires faith in your own ability to continue to continue to add value in a new role. It starts simply by saying there
- [56.6% of Berliners vote to expropriate flats](https://theprime.cz/sectors/residential/56-6-of-berliners-vote-to-expropriate-flats/) - The end of the CDU's dominance in recent elections was the headline result in Germany's weekend elections, but in Berlin, residents were also scheduled to vote on whether to nationalize over 200,000 privately held homes. As expected, the measure passed, with 56.4% of voters calling for the city to expropriate units from landlords that own
- [Petr Hlaváček: Prague must lead the urban planning process](https://theprime.cz/urban-planning/petr-hlavacek-to-survive-crisis-prague-must-lead-urban-planning/) - The City of Prague has been in a residential crisis for some time now. Its Deputy Mayor Petr Hlaváček didn't actually use the word crisis, during our wide-ranging discussion. But he painted a picture of a city whose urban planning mechanisms are struggling to adapt to modern demographic trends and rising levels of societal wealth
- [Mark Robinson: This inflation is no blip](https://theprime.cz/sectors/industrial-logistics/mark-robinson-this-inflation-no-blip/) - I spoke recently with Mark Robinson again to follow up on a comment about inflation he made in our last interview. "We'll know more in September," he said back in May. Well, it's September now, so what did he mean, and what do we know? Essentially, there's a good and a bad version of the
- [3Things: Geosan begins Neklanka, Bakala sells LBM and Prologis in Rudna](https://theprime.cz/sectors/retail/3things-geosan-begins-neklanka-bakala-sells-lbm-and-prologis-in-rudna/) - Having received its building permit for Rezidence Neklanka 2, Geosan Development has begun construction of the project near Anděl in Prague 5. It's the second phase of a project that includes three apartment buildings with 31 flats, each with its own balcony, terrace or garden. Since sales were launched a year ago, just 25% are
- [City council green lights 6 projects by Prague Development Company](https://theprime.cz/prague/city-council-green-lights-6-projects-by-prague-development-company/) - Prague's city council has approved the next phase of investments being made in six projects by the Prague Development Company (PDS). Four of the projects are small rental apartment buildings, while another involves the construction of a nursery school deemed vital for the development of further residential space in its immediate surroundings. In all, the
- [CBRE: Office renegotiations rise 33% in H1](https://theprime.cz/sectors/offices/cbre-office-renegotiations-rise-33-in-h1/) - According to new figures from CBRE's half-year report, Prague office take-up rose 22% compared to the first six months of 2020 to 183,300 sqm. Of that total, 43% was made up of renegotiations, an increase of 33% compared to a year ago. A total of just 53,000 sqm of new space hit the market through
- [3Things: Mortgage fever goes on, Eurowings' Prague hub, Heimstaden & SBTi](https://theprime.cz/news/companies/3things-mortgage-fever-strong-eurowings-lands-in-prague-heimstaden-sbti/) - Early in the year, Czech financial experts began speculating that 2021 could be the year that banks handed out more than CZK 300 billion in mortgage loans. By the end of August, the total volume had reached CZK 293 billion, meaning that the revised question is how close the final figure will get to CZK
- [Sean Clifton (Jestico+Whiles): Green design in an era of inflation & plague](https://theprime.cz/sectors/residential/sean-clifton-jesticowhiles-green-design-in-an-era-of-inflation-plague/) - Sean Clifton took the interview at a high table at one end of the single, long room that accommodates the Jestico+Whiles studio. He's led the Smichov-based practice since 2001, when the company was busy with a pair of major projects, including a hotel for Vienna Group's first Prague hotel just down in Anděl. Much has
- [Mint fund buys Trigema rental project in Pilsen](https://theprime.cz/news/real-estate-investment/mint-fund-buys-trigema-rental-project-in-pilsen/) - Trigema Real Estate has sold four apartment buildings in a residential suburb of Pilsen to MINT I. rezidenční podfond SICAV. Construction is planned for the last quarter of 2022 and will result in over 100 flats that the fund will add to its portfolio of rental units. The project is located in Škvrňany on the
- [Residential permit numbers up in 2021](https://theprime.cz/sectors/residential/residential-permit-numbers-up-in-2021/) - The rubber stamps at Czech construction offices have been busier this year than they have been in more than a decade. As of July, developers had secured construction permits for more than 8,000 flats, which is just 1,000 short of last year's total. It's also the highest number since 2008, writes Hospodářské noviny, whose article
- [3Things: Getberg, AFI Europe & slowing industrial output](https://theprime.cz/sectors/residential/3things-getberg-afi-europe-slowing-industrial-output/) - The residential developer Getberg has unveiled a new project near Kamenice outside Prague which includes 115 row homes, 35 apartments along with commercial spaces for services. Called Forest Views, the project represents an investment of roughly CZK 1 billion. The row homes will range in size from three to 5 rooms. Construction is set to
- [Steffen Walvius (JLL): There's no time to spare on sustainability](https://theprime.cz/sectors/offices/steffen-walvius-jll-theres-no-time-to-spare-on-sustainability/) - The path that led Steffen Walvius to be named JLL's Head of Sustainability Services and ESG was hardly a straight line. In a sense, it began on oil rigs in the North Sea, where he worked as an engineer. Having seen firsthand how the raw material of CO2 emissions was produced, he began to worry
- [Ryan Wray (Avison Young): Market focused on Covid-proof assets](https://theprime.cz/sectors/offices/ryan-wray-avison-young-market-focused-on-covid-proof-assets/) - Ryan Wray set up the Avison Young office in Prague as the country was preparing to emerge from the spring lockdown. The company's MD says investment patterns have been deeply affected by the experience of the past 18 months. How have the first months of the business gone, compared to expectations? Difficult. We launched the
- [3Things: Ambiente, YIT and H1 investment report](https://theprime.cz/news/companies/3things-ambiente-yit-and-h1-investment-report/) - The Ambiente group is set to open three new restaurants in Prague, as if in defiance of the restaurant-busting pandemic of the last year. The first of the new businesses according to Hospodářské noviny will be a bar called Pult to be located on V Celnici street. The six beers that will be offered on
- [Lincoln Property Company buys Warsaw office project from Penta with ENERN](https://theprime.cz/projects/lincoln-property-company-buys-warsaw-office-project-from-penta/) - Lincoln Property Company has partnered with the Czech investment group ENERN to acquire a prime office development site in the Wola district of Warsaw from Penta Real Estate for around €25 million. Located 300 meters from the Rondo Daszyńskiego metro station, The Form will offer as much as 30,000 sqm office and retail space and
- [Q2 2021 tourist numbers 73% below Q2 2019](https://theprime.cz/news/q2-2021-tourist-numbers-73-below-q2-2019/) - More than 1.5 million tourists stayed in Czech hotels and pensions during the second quarter of 2021. But while that's more than 50% more than a year ago, it's just a fraction of the 5.7 million that did so in Q2 2019. Prague's hotel sector has been hit harder than almost any other in Europe,
- [Holec: Most industrial space leasing pre-construction](https://theprime.cz/news/leases/holec-most-industrial-space-leasing-pre-construction/) - 108 Agency writes that the stock of industrial real estate in the Czech Republic grew by 71,748 sqm in Q2 2021 to 9.33 million square meters, with nearly 550,000 sqm under construction as of the end of June. It's unclear whether the new space will relieve the pressure of demand vacancy fell 1.35% from Q1
- [UBM focused on Prague residential as multifamily investors arrive](https://theprime.cz/sectors/residential/ubm-bullish-on-pragues-multifamily-market/) - UBM Development has begun construction on the first phase of its project Arcus City in Prague 5 - Stodůlky neighborhood having sold 60 of its 100 flats. At the same time, it opened a sales center at the location to address potential customers for the remaining units. And then there's the second phase of the
- [Prague hotel occupancy lowest in Europe](https://theprime.cz/news/real-estate-investment/prague-hotel-occupancy-lowest-in-europe/) - Hospodářské noviny writes that Prague hotels suffer from the lowest occupancy rates in Europe. Things are so bad, the daily writes, that even two months after the government lifted the ban on businesses offering accommodations, many hotel operators think it's not worth opening for business. It quotes Interhotel Olympik's boss Vlastislav Šos who says that
- [3Things: REICO buys, Nanovo sells and GDP underwhelms](https://theprime.cz/sectors/retail/3things-reico-buys-nanovo-sells-and-gdp-underwhelms/) - The REICO managed fund ČS nemovitostní fond has acquired Panattoni Park Tychy DC1 in Poland for roughly €42 million, bringing the number of real estate assets in its portfolio to 10. The 54,000 sqm industrial park, located 2 km from the A44, was completed in Q1 2021 and is fully leased. The vendors were BH
- [3Things: Notino, industrial vacancy and LG's battery factory](https://theprime.cz/news/leases/3things-notino-industrial-vacancy-and-lgs-battery-factory/) - Czech industrial vacancy dropped to 3% in Q2 2021 thanks in part to the below-average pace of new construction and high demand. In an around Prague, vacancy is virtually non-existent at just 1.4%. The Industrial Research Forum reports that most of the construction starts during the second quarter were located in the Moravian-Silesian region and
- [Supply of new flats falling in Bratislava](https://theprime.cz/news/supply-of-new-flats-falling-in-bratislava/) - The number of flats sold in Bratislava doubled in Q2 2021 and with supply levels continuing to fall, it's now very much a seller's market. That's the conclusion of the real estate agency Herrys, which warns in a new report that there's no change on the way. Herrys found that the highest number of new
- [CTP's H1 rental income up 17% to €160m](https://theprime.cz/news/companies/ctps-h1-rental-income-up-17-to-e160m/) - It's fair to say that CTP enjoyed a solid H1 2021. Along with going public on the Amsterdam stock market and finalizing a 2-tranche, €1 billion green bond, the company says it captured nearly one-third of all new leases signed during the period in the Czech Republic, Romania, Hungary and Slovakia, where it now holds
- [Fousek (Obermeyer Helika): Construction costs complicating projects](https://theprime.cz/news/leases/fousek-obermeyer-helika-construction-costs-complicating-projects/) - The financial conditions for construction are getting more complicated for investors, says Jiří Fousek. But even as five years of work on a bank project in Hradec Králové wraps up, new assignments continue to come in for the Obermeyer Helika, which he's the director of. Fousek calls the new ČSOB headquarters in Hradec one of
- [3Things: CPI's new hotel, SK retail and manufacturing inflation](https://theprime.cz/news/leases/3things-cpis-new-hotel-sk-retail-and-manufacturing-inflation/) - CPI Hotels has begun construction in Brno on a new Clarion hotel between Dorny street and the Nové Vlněny complex near the city's main train station. Completion is scheduled in roughly two years for the facility which will offer 180 rooms at a 4-star standard along with 20 larger rooms for more demanding clients. The
- [Mixed signals: Prague's hotel sector suffers, but not investor demand](https://theprime.cz/news/real-estate-investment/mixed-signals-pragues-hotel-sector-suffers-but-not-investor-demand/) - After the spring lockdown lifted and people returned to Prague's streets, it was fascinating to see who actually lives and works in the city. With tourism at an absolute minimum, after all, it was statistically unlikely you'd see many, if any non-residents. With the vaccine machine ramping up and infection rates plunging, there was every
- [Colliers: Capital markets slowed in Q2 by lack of big deals](https://theprime.cz/news/real-estate-investment/colliers-capital-markets-slowed-in-q2-by-lack-of-big-deals/) - Colliers writes that Q2 2021 was slightly more optimistic in terms of the Czech real estate investment market than Q1. What's still missing, however, are transactions of over €150 million. "With the lack of product on the market investors are forced to handpick opportunities more carefully or accept higher potential risk for expected returns." So
- [RSBC transforming Rozkvět building in central Brno](https://theprime.cz/news/leases/rsbc-transforms-rozkvet-building-in-central-brno/) - One of the many financially powerful Czech groups that's been quietly building up its property holdings in recent years is RSBC. As its activities and know-how in the sector grew, the need to structure its activities began to become clear. So, just over a year ago, RSBC leapt into the the world of real estate
- [Prague court's tax ruling court adds nail to Airbnb's coffin](https://theprime.cz/sectors/residential/prague-courts-tax-ruling-court-adds-nail-to-airbnbs-coffin/) - Income earned by apartments through online platforms such as Airbnb should be treated like any other accommodations business by tax authorities. That's the verdict in a long-awaited court ruling in a case brought by the lawyer of a client who claimed the income should be treated as rent. The result for those who rent their
- [3Things: Brno's Automotodrom, Q2 wages and bank reserves](https://theprime.cz/news/finance/3things-brnos-automotodrom-q2-wages-and-bank-reserves/) - The owner of Automotodrom Brno Karel Abraham has requested a change to the master plan of Brno to allow him to replace the racing facility with an entirely new residential district for 18,000 people. The race course was known primarily for hosting a race on the Motorcycle Grand Prix circuit but even before the pandemic
- [Saunia looks from Hotel Thermal to Ostrava and Kladno](https://theprime.cz/news/saunia-looks-from-hotel-thermal-to-ostrava-and-kladno/) - Now that the crowds have left the Karlovy Vary film festival, the wellness company Saunia can concentrate on completing the opening of its new operations in the Hotel Thermal. Typically, the company runs sauna centers in shopping malls. But it made an exception for the famous hotel after winning a tender to operate its pool
- [Insolvency court blocks sale of seven V Tower flats worth CZK 459m](https://theprime.cz/news/companies/insolvency-court-blocks-sale-of-seven-v-tower-flats-worth-czk-459m/) - The city court in Prague has confirmed an injunction blocking the sale of seven apartments V Tower worth CZK 459 million as part of bankruptcy proceedings for the construction company PSJ. Seznam Zpravy writes that the insolvency manager in the case David Janosik filed for the injunction, fearing that if they were sold, the CZK
- [3Things: Ostrava Tower, HalfPrice and ČNB's October surprise](https://theprime.cz/urban-planning/3things-ostrava-tower-halfprice-and-cnbs-october-surprise/) - On Thursday, the Czech National Bank did what central banks are supposed to do sometimes: it surprised the market and pissed off some politicians. Everyone knew it would raise the base rate at a scheduled meeting of the governing council, but the expectation was for a third consecutive 0.25% nudge. Instead, the rate shot up
- [Local investors and BTR take center stage (Andy Thompson - Colliers)](https://theprime.cz/multimedia/podcasts/local-investors-btr-take-center-stage-andy-thompson-colliers/) - Czech real estate investors came of age just in time to provide a permanent new source of liquidity during the current crisis, says Andy Thompson. But international investors still dominate many transactions, especially in the suddenly popular Build-to-Rent resi sector. Will BTR end up being just a passing phase? What was it like for a capital market
- [UBM Development begins construction on Arcus City](https://theprime.cz/sectors/residential/ubm-development-begins-construction-on-arcus-city/) - UBM Development has begun construction of Arcus City in Prague 5, where the company received such demand for the flats in Phase I that it's already launched sales of the 50-unit second phase. The project is located on the border of Stodůlky and Řeporyje. The general contractor for Arcus City is Algon, while Casua has
- [Robinson: Recession was coming. Covid was just the trigger](https://theprime.cz/news/real-estate-investment/robinson-recession-was-coming-covid-was-just-the-trigger/) - Everything would have been fine if it weren't for Covid. That's what a lot of people keep telling themselves, at least. But Mark Robinson (EnCor Wealth Management) says the writing was already on the wall in 2019 for the last cycle. "The recession was due," he says. "GDP had peaked in 2018 in the Czech
- [Trigea's retail park acquisition caps off record year for sector](https://theprime.cz/news/real-estate-investment/trigeas-retail-park-acquisition-caps-off-record-year-for-sector/) - The Czech real estate fund Trigea has acquired two commercial properties in Moravia in recent days: Nákupní park Haná Olomouc and Nákupní park Ostrava. Both are located in established retail zones and have been managed by CBRE since 2013. After extending most of the leases in the properties to achieve 100% occupancy for the original
- [Prague supply of new residential falls to record low in Q2](https://theprime.cz/news/companies/prague-supply-of-new-residential-falls-to-record-low-in-q2/) - Demand for new residential real estate in Prague refuses to abate but new figures for the second quarter suggest that supply is dwindling. Central Group writes that its analysis performed in conjunction with developers Trigema and Skanska found that 2,650 new units were sold during Q2 2021 (up 55) from Q1). However, the number of
- [Colliers Conversations Podcast - Episode 1: Office decisions](https://theprime.cz/sectors/offices/colliers-conversations-podcast-episode-1-office-decisions/) - Cause and effect is tough to distinguish when it comes to sorting out what Covid is responsible for and what it simply accelerated. Prague's office market will never be the same as it was before the pandemic, but some of that was coming anyway. In this premier podcast produced in partnership with Colliers, I speak
- [Bratislava office vacancy stuck above 12%](https://theprime.cz/sectors/offices/bratislava-office-vacancy-stuck-above-12/) - According to the Bratislava Research Forum, Q2 office leasing activity came to 37,000 sqm, which was a 19% increase compared to a year ago. In most years, that would represent significant improvement, but Q2 2020 was a catastrophic period pretty much everywhere in the world, meaning the bar was set pretty low. Similarly, vacancy fell
- [PRF: Prague office vacancy up to 7.8%](https://theprime.cz/news/leases/prf-prague-office-vacancy-up-to-7-8/) - Prague's office vacancy rate rose 20 bps to 7.8% in Q2 as 49,500 sqm of unleased new space hit the market. The new supply for the quarter included 25,400 sqm at Bořislavka (Prague 6), 3,500 sqm in Astrid Offices (Prague 7) and Prague 8's newcomers Mississippi House (13,300 sqm) and Missouri Park (7,300 sqm). Numbers
- [Savills: Prague offices dominate Q2 investments](https://theprime.cz/news/real-estate-investment/savills-prague-offices-dominate-q2-investments/) - For all the alleged uncertainty over the office market, it's still dominating investments in the Czech Republic. According to a new report out from Savills, Q2 2021 transaction volumes were 42% up over a year ago and a full 47% higher than Q1 2021. And of the past five quarters, office was the most important
- [Progress on key rail projects in Brno and Prague](https://theprime.cz/urban-planning/progress-on-key-rail-projects-in-brno-and-prague/) - Brno announced that the Dutch studio Benthem Crouwel Architects has won the architectural competition for the city's planned new train station. The studio will monitor the creation of the project documentation for the new station, which is expected to cost between CZK 45 billion and CZK 48 billion. "It's one of the milestones for Brno's
- [Mortgage rates rose in June...so did demand](https://theprime.cz/news/finance/mortgage-rates-rose-in-june-so-did-demand/) - Mortgage rates have been going up following the recent increase in the Czech National Bank's base interest rate. But that hasn't cooled demand for home loans. Just the opposite. Sensing that it may be a long time before they can score a 20-year loan for just 2.13%, consumers continued flooding into banks during June, borrowing
- [Patria investiční společnost buys two Czech retail parks](https://theprime.cz/news/real-estate-investment/patria-investicni-spolecnost-buys-two-czech-retail-parks/) - Patria investiční společnost is the latest investment group to acquire retail parks, which have become a popular target since the onset of the pandemic. CBRE reports that it represented the company in buying Retail park Ovčáry in the town of Kolin and Retail Park Mohelnice. The first of these offer 8,950 sqm of GLA with
- [3Things: Office space, non-Prague resi & Batteryček,](https://theprime.cz/sectors/offices/3things-office-space-non-prague-resi-batterycek/) - If you want to make money on the Czech residential market, one of the slowest ways to do it is to buy an apartment in Prague on the secondary market. That's the juicy conclusion of a report cited by the real estate agency RE/MAX (cited by Seznam Zprávy). It quotes a price analysis by Iztok
- [Martin Scheuch (Sentient): Construction costs caught up in a price tornado](https://theprime.cz/news/companies/martin-scheuch-sentient-construction-costs-caught-up-in-a-price-tornado/) - Skyrocketing prices of various construction materials, price jumps of commodities and labor shortages have set in motion a whirlwind that's nowhere near over, says Martin Scheuch, managing partner at the consultancy Sentient. "We're witnessing a sudden and unprecedented rise in demand as well as a lack of supply of construction materials. That's behind the sudden
- [3Things: 100 Towers buys in Smíchov, Berlin's rent crisis & rampant resi](https://theprime.cz/news/real-estate-investment/3things-100-towers-buys-in-smichov-berlins-rent-crisis-rampant-resi/) - The 100 Towers Holding real estate fund has acquired the Lyra office building in Prague 5's Smichov neighborhood. The owner of the new 8,500 sqm building located near the Smíchov train station plans to modernize it in order to match current office standards. "We're an active manager, not a passive fund and we revitalize all
- [Obermeyer Helika named general designer for Red Court](https://theprime.cz/sectors/offices/obermeyer-helika-named-general-designer-for-red-court/) - Obermeyer Helika has been appointed as the general designer for the Red Court office building in the Prague 8 neighborhood of Karlin. The new building by J&T Real Estate is the latest addition to the developer's Rustonka office complex. Obermeyer Helika will be responsible for the project documentation needed for the general contractor Geosan Group
- [SFG Holding adds Šumava recreational project to its fund](https://theprime.cz/news/real-estate-investment/sfg-holding-adds-sumava-recreational-project-to-its-fund/) - SFG Holding has jumped into the growing recreational residential market by renovating an old recreational complex in Benešova Hora, a village in the popular Šumava region of Southern Bohemia. The investor plans to complete reconstruction work by 2022, but the 45 apartments will go on sale in a matter of weeks. "It's been clear for
- [Tomáš Némethy (C&W): Bratislava's rising office vacancy rising defies slower construction](https://theprime.cz/news/project-news/tomas-nemethy-cw-bratislavas-rising-office-vacancy-rising-defies-slower-construction/) - It's no surprise that the coronavirus crisis has had a profound impact on Bratislava's office market. Still, in its Q1 Slovak MarketBeat report, Cushman & Wakefield described a "solid" net take-up share of 78%, while noting that this was partially driven by existing occupiers who were relocating under more competitive conditions. The report noted that
- [Construction law (finally) passed, Logicor in Błonie](https://theprime.cz/sectors/industrial-logistics/construction-law-finally-passed-logicor-in-blonie/) - After years of bickering and legislative dead ends, the new Czech construction law has passed, with the lower house of parliament overturning the Senate's veto. The only thing standing in the way of the bill becoming law is the signature of the country's president. Its primary goal is to reduce the time it takes investors
- [Karimpol launches construction of Squarebizz Bory](https://theprime.cz/sectors/retail/karimpol-launches-construction-of-squarebizz-bory/) - Karimpol has begun construction of Squarebizz Bory, a new commercial zone on the northern edge of Bratislava that will offer retail, storage, services and showroom premises. The idea is to provide small and medium size businesses with energy efficient space in a convenient location. A total of 15,000 sqm will be built in the project's
- [Skanska names Mariusz Krzak to lead development in Prague](https://theprime.cz/prague/skanska-names-mariusz-krzak-to-lead-development-in-prague/) - Mariusz Krzak has taken over as head of Skanska’s commercial development unit in the Czech Republic, replacing Tomáš Fabian who had filled the role temporarily. Krzak's move means he will be extending the scope of his responsibilities within Skanska which now include the markets of Prague, Warsaw and Wrocław. He joined Skanska in 2010 as
- [Bosch leases 15,000 sqm at CTPark Bor](https://theprime.cz/news/leases/bosch-leases-15000-sqm-ctpark-bor/) - CTP has agreed with Bosch on a tailor-made logistics warehouse in CTPark Bor with over 15,000 sqm of GLA. Bosch will move its operations from the Netherlands to the cross-dock facility in western Bohemia where it has the ability to expand if needed in the future. It will use the new site primarily for the
- [3Things: Forum Karlin operator sold, Mint fund buys, Q1 resi prices](https://theprime.cz/news/real-estate-investment/3things-forum-karlin-sold-mint-fund-buys-q1-resi-prices/) - PPF appears to believe that despite all the recent tragedy in the recent past, entertainment and conferences are the future. Its subsidiary Prague Entertainment Group announced the acquisition of the operator Forum Karlin in Prague 8. Seznam Zpravy points out that as it already owns the O2 arena and its multifunctional congress center O2 universum,
- [Hungary to limit construction material exports?](https://theprime.cz/sectors/offices/hungary-to-limit-construction-material-exports/) - The Hungarian government announced recently that it would crack down on "distortions" in the pricing of construction materials by imposing export barriers beginning by October. But the threat may already be having an impact. ThePrime has been shown the copy of an email from the Hungarian branch of a multinational materials supplier warning clients that
- [From bad to worse: materials shortage hits flat prices](https://theprime.cz/sectors/residential/from-bad-to-worse-materials-shortage-hits-flat-prices/) - Prices for flats in Prague jumped 13.5% in Q1 2021 compared to Q1 2020 to reach an average of CZK 100,000. That sounds horrendous but things were worse in Ostrava where the price per square meter rose by 31% -- the proviso there is that the average price now stands at CZK 34,400 per sqm.
- [3Things: MDC2 & CTP, Online retail gains, Passerinvest launches Fleksi](https://theprime.cz/news/leases/3things-mdc2-ctp-online-retail-gains-passerinvest-launches-fleksi/) - There has been a shift in the arrangement between the Polish industrial developer MDC2 and CTP, who announced a strategic partnership back in February. At the time, CTP had committed €200 million to go towards the construction of industrial real estate in Poland, with MDC2 expected to carry out the developments. MDC2 co-founder Hadley Dean
- [NIDO Group making inroads into Prague residential](https://theprime.cz/news/companies/nido-group-making-inroads-into-prague-residential/) - After four years of building family homes and small residential developments in villages around Prague, the NIDO group is expanding into the capital itself. Having acquired a site in Hostivař, says partner Lukáš Tvrdý, the company has secured a construction permit allowing it to erect a 14-unit apartment building on it. This new project won't
- [AFI Europe acquires Avenir Business Park in Prague 5](https://theprime.cz/news/real-estate-investment/afi-europe-acquires-avenir-bp-prague/) - AFI Europe Czech Republic has closed on the acquisition of Avenir Business Park in Prague from EPISO 4 (advised by Tristan Capital Partners) and its operating partner and co-investor Mint Investments. It's being sold on after undergoing a successful turnaround including new leases and lease renewals for 23,000 sqm of the space along. The vendors
- [ČNB tries to douse inflation fire, raises rates 0.25%](https://theprime.cz/news/the-fight-against-inflation-is-on/) - The Czech National Bank surprised no one on Thursday by raising its basic interest rate by 25 bps to 0.75%. The bank first raised rates (from 0.25 to 0.50% ) in June in an attempt to bring under control runaway inflation spawned by huge public expenditures and global supply chain disruption. Many economist expect ČNB
- [3Things: Pietro Filipi vs. CPI, Eugenio Bramerini on Sněžka, and Robert Schönfeld](https://theprime.cz/news/companies/3things-pietro-filipi-bramerini-robert-schonfeld/) - News leaked earlier this week of Pietro Filipi employees receiving letters that they wouldn't be paid and should quit. Now E15 is reporting that the brand's owner C2H has been receiving its own letters of eviction from landlords. The most prominent of them is CPI Property Group, which revealed that despite intense negotiations, no solution
- [3Endings: BNP RE CZ?, zombie companies, gas cars](https://theprime.cz/news/companies/3endings-bnp-re-cz-zombie-companies-gas-cars/) - There's growing speculation about the end of activities BNP Paribas Real Estate in the Czech Republic. While it's important to note that there's been no confirmation from the company's leadership on the matter, neither has there been any permission granted to deny it, or make any comment whatsoever. Suspicions that something was afoot began to
- [Passing of Tamir Winterstein announced](https://theprime.cz/sectors/offices/passing-of-tamir-winterstein-announced/) - Seznam Zpravy carries sad news about the passing of Tamir Winterstein - one of the big figures in Prague development - at the age of 72. The report was confirmed according to SZ by his colleagues from the company Daramis. "It is with great sadness that we part with one of the most important personalities
- [Geosan's Rezidence Neklanka 2 enjoying brisk sales](https://theprime.cz/sectors/residential/geosans-rezidence-neklanka-2-enjoying-brisk-sales/) - Geosan Development has sold more than 60% of the flats in Rezidence Neklanka 2 near Anděl in Prague 5. That in itself is nothing remarkable, considering how hot the market is at the moment. What is noteworthy is that Geosan accomplished this three months before construction even begins. While the total number of units isn't
- [CA Immo completes Mississippi House and Missouri Park](https://theprime.cz/news/companies/ca-immo-completes-mississippi-house-and-missouri-park/) - CA Immo completed construction of Mississippi House and Missouri Park, bringing to completion the 84,000 sqm River City Prague office campus. The two new buildings offer a total of 20,750 sqm of lettable area, with Mississippi House the larger of the two at 13,380 sqm. CA Immo undertook a €65 million investment to complete them
- [Cresco steps up the pace at Slnečnice in Petržalka](https://theprime.cz/urban-planning/cresco-steps-up-the-pace-at-slnecnice-in-petrzalka/) - The Slovak developer Cresco is aiming to put 1,000 flats up for sale in Bratislava during 2021 at its enormous project Slnečnice. This sounds like a huge amount of exposure to the whims of what many worry is an overheated market. But the scheme is divided into so many zones and different types of buildings
- [Heimstaden strikes again with deal for FINEP flats](https://theprime.cz/news/companies/heimstaden-strikes-again-with-deal-for-finep-flats/) - Heimstaden has bought 164 fully-furnished flats, the first FINEP will complete of its project Pergamenka in Prague 7's Holešovice. The deal is worth a reported CZK 1.2 billion. Plans for Pergamenka include a reception desk, restaurant, cafes and sports facilities. Tenants are expected to be able to move in by the beginning of 2024. "We
- [Czechs & Slovaks have densest CEE coworking network](https://theprime.cz/news/companies/czechs-have-densest-cee-coworking-network/) - The Czech Republic has 8.7 workspaces per capita, the second highest concentration in CEE. Coming in first was Slovakia, which has 11.2 workplaces and Poland, where operators offer just 6.7 spaces per capita. Those are the results of new research from CBRE, which found that Hungary and Romania's results were 5 and 4.3 space respectively.
- [Inflation watch: ČNB to raise interest rates](https://theprime.cz/news/finance/inflation-watch-cnb-to-raise-interest-rates/) - If the experts aren't wrong, the Czech National Bank will raise the base interest rate on Wednesday in an attempt to rein in the inflationary pressures caused by the reopening of the economy. Before the pandemic, interest rates had risen to 2.25%, but by May 2020, they'd fallen to the current 0.25%. The Czech Press
- [Huge inflation spike slams construction sector](https://theprime.cz/news/companies/huge-inflation-spike-slams-construction-sector/) - Economists have been warning about the potential for a spike in inflation for months, but until recently, attention fixated on the rapidly rising prices in the residential sector. In recent weeks, however, construction prices have spiked in a way that can't be withstood for long. Contractors and investors who contracted for materials such as steel
- [Bluehouse respositioned, then sold Korso Karvina to Conseq](https://theprime.cz/news/real-estate-investment/bluehouse-respositioned-then-sold-korso-karvina-to-conseq/) - Conseq Realitní has acquired Korso Karvina, a 12,800 sqm shopping center in Northern Moravia from Bluehouse Capital. Cushman & Wakefield represented Bluehouse in the original transaction back in 2017 and assisted the company in the disposal as well, cooperating with CMS (legal) and ASB (financial advisory). Iain Fanthorpe of Bluehouse says the center was only
- [Česká pošta confirms plan to sell massive HQ in Prague 1](https://theprime.cz/news/companies/ceska-posta-confirms-plan-to-sell-massive-hq-in-prague-1/) - Česká pošta has decided to sell off most of its headquarters building in heart of Prague. Following a study that's expected to take about a year to complete, the state postal company is expected to announce how it plans to dispose of the huge building. Sadly, (for investors) the most attractive portion of it, the
- [CTP to join Euronext's AscX index in Amsterdam](https://theprime.cz/news/companies/ctp-to-join-euronext-ascx-index-amsterdam/) - It's been announced that CTP will be joining the AscX index, a group of 25 Dutch companies derived from Amsterdam's Small Cap Index. The company listed on the Euronext Amsterdam exchange on March 25, meaning that its inclusion on the prestigious index is taking place after just three months. Having listed at €14 per share,
- [Transparency helping CB Property Investors gain traction](https://theprime.cz/news/companies/transparency-helping-cb-property-investors-gain-traction/) - Crowdberry announced the formation of its real estate fund at the beginning of the year and got the go-ahead to begin collecting funds from investor in March. Director Omar Sattar has spent the months since explaining how the CB Property Investors works, gauging interest and lining up the fund's first investors. What's the response been
- [Estate Ladies chosen to market Bastion Florenc](https://theprime.cz/news/companies/estate-ladies-chosen-to-market-bastion-florenc/) - The owners of CSAD Praha holding have begun construction on Bastion Florence, its long-awaited office project near the Masaryk train station and Central bus terminal Prague Florenc. The scheme will offer 4,300 sqm of leasable area over six floors, including ground floor units for retail and services. The investor has also gone its own way
- [3Things: GDP up, scarce workers, showroom sales](https://theprime.cz/news/companies/3things-gdp-up-scarce-workers-showroom-sales/) - Czech industrial production jumped by a ludicrous 55% in April, driven in part by a quadrupling in automobile output. The astronomical growth is of course due to the fact that the entire country was in lockdown for all of April 2020. Compared to March 2021, April's industrial output figures grew 1.9%. Wages rose 11% year-on-year,
- [Thomson: Hines open to local partnerships in Czech expansion](https://theprime.cz/news/companies/stewart-thomson-hines-office-in-prague/) - Hines has named Stewart Thomson its director for the Czech Republic as the company moves to finish up on a deal that's been in the works for some time. In Poland, Hines has been active for many years investing actively in industrial and residential assets. Thomson says that a similar focus on sheds and beds
- [Zeitraum appoints Tomáš Běhounek Head of Operations](https://theprime.cz/news/companies/zeitraum-appoints-tomas-behounek-head-of-operations/) - Tomáš Běhounek has been named as Head of Operations at Zeitraum, where he'll be put in charge of ensuring that properties in the company's portfolio will be kept in good condition. Zeitraum has owned four buildings that it operates as student accommodations in Prague for years and recently opened the Franz by Zeitraum serviced apartments
- [Luxent raising capital for new property fund](https://theprime.cz/news/real-estate-investment/luxent-raising-capital-for-property-fund/) - In order to raise capital to carry out its own real estate investments, the Luxent group has launched its own real estate fund called Luxent Capital Funds. It's a private fund primarily for qualified investors which the fund's four owners will be opening up to their clients and contacts. The group's primary business takes place
- [Bořislavka done, Explora sold, Primark and movies opening](https://theprime.cz/news/companies/3things-borislavka-done-explora-sold-primark-and-movies-opening/) - The Czech real estate fund Trigea has bought Explora Business Centre in its largest transaction since being set up in 2019. Built above the Nové Butovice metro station, Explora offers large, flexible office floors and a range of amenities in the vicinity including Galerie Butovice. Trigea, which is part of the Partners financial group, acquired
- [Apolena Weissová (Capexus): Cross-team collaboration and the new workplace](https://theprime.cz/sectors/offices/apolena-weissova-capexus-cross-team-collaboration-and-the-new-workplace/) - What are you being asked by companies for advice on? Do they just want to reduce the amount of space they occupy? Usually, they know they have more office space than they will need in the future, but they don't know what the space they're going to use should look like. Our job is to
- [Tétris names Tomáš Pfeifer Creative Director for EMEA](https://theprime.cz/sectors/offices/tetris-names-tomas-pfeifer-creative-director-for-emea/) - Tétris has appointed Tomáš Pfeifer to the role of Creative Director for the EMEA region. The move is obviously a promotion, but it's also part of a larger organizational shift in the company intended to support a rebranding and repositioning of the company. The idea is to strengthen Tétris's profile as a global company while
- [JLL CZ: Brick & Mortar sales weak in March, rents stable](https://theprime.cz/sectors/retail/jll-cz-brick-mortar-sales-weak-in-march-rents-stable/) - The total volume of modern Czech retail stock hit 3.79 million square meters as of the end of Q1 2021, according to JLL. Of that total, 69% is located in shopping centers, while the share offered by retail parks now comes in at 27%. A pair of new retail parks came online in Q1, both
- [Excessive data mining ends open access to land registry](https://theprime.cz/urban-planning/excessive-data-mining-ends-open-access-to-land-registry/) - Free, open access to the Czech Republic's land registry will end as of June 1 when the public resource will be fully available only to registered users. Critics of the move see this as an anti-progressive move that pushes the dream of digitalized e-government further into an unclear future. The lawyer Petr Novotný has gone
- [Crestyl deal for Budimex Nieruchomości includes huge sale of flats to Heimstaden](https://theprime.cz/news/real-estate-investment/heimstaden-buying-2500-flats-from-budimex-nieruchomosci/) - Crestyl has made its first cross-border acquisition in Poland to become a regional player in the CEE residential sector. Together with Cornerstone Partners, Crestyl completed the acquisition of the Polish residential developer Budimex Nieruchomości. Budimex Nieruchomości was a subsidiary of Poland's largest construction group, Budimex SA, owned by the Spanish infrastructure giant Ferrovial. It's a
- [Zeitraum debuts serviced apartment line near Wenceslas Sq.](https://theprime.cz/news/project-news/zeitraum-debuts-serviced-apartment-line-near-wenceslas-sq/) - The student housing specialist Zeitraum is expanding its portfolio with a new project near Wenceslas Square that marks its entry on the serviced apartment sector. Under the brand name Zeitraum Apartments, the company will be opening 'Franz by Zeitraum' at Opletalová 41. Zeitraum's MD Zdena Noack said her team had registered demand for fully-furnished apartments
- [Manifesto to open new location in Anděl](https://theprime.cz/sectors/retail/manifesto-to-open-new-location-in-andel/) - The food market concept Manifesto is expanding by opening a a new location in Prague 5's Anděl district where it will operate an open-air, all-seasons food hall. Located next to one of the entrances to the Anděl metro station in front of the Na Knižeci bus terminal, the new cashless concept will provide seating for
- [Parliament passes new construction law](https://theprime.cz/projects/parliament-passes-new-construction-law/) - Any one of the three political affairs that burst into life yesterday would have been enough to fill the front pages for days: another health minister resigned, a popular young politician was accused of sexual misconduct, and newspapers reported on the roles played by Vaclav Klaus and Miloš Zeman in a billion dollar loan to
- [Arcona Capital leads reconstruction of Rudolfinum terraces](https://theprime.cz/news/companies/arcona-capital-leads-reconstruction-of-rudolfinum-terraces/) - The Czech Philharmonic and its sponsor Arcona Capital are preparing the way to reconstruct the terrace atop the iconic Rudolfinum concert hall. Situated along the banks of the Vltava river, the building is a focal point for much of the city's cultural and classic music scene. The rooftop terrace has gone unused for years in
- [Survey shows overwhelming support for Nový Istropolis](https://theprime.cz/news/companies/survey-shows-overwhelming-support-for-novy-istropolis/) - Bratislava residents are in favor of the Nový Istropolis project being developed by Immocap. That's the overwhelming conclusion of a recent survey by Ipsos which found that 82% would prefer the removal of the current House of Unions building. That's the kind of public support most developers can only dream about. The survey was carried
- [CNB says flats 25% overvalued, raises reserve requirements](https://theprime.cz/news/finance/cnb-says-flats-25-overvalued-raises-reserve-requirements/) - The overall debt for Czech consumers rose CZK 179 billion over the last three months to a total of CZK 2.5 trillion. Seznam Zprávy writes that the debts are growing quickest amongst 30 to 34-year olds as they rush to take on mortgage debt before interest rates rise too far. Those acting now have come
- [Lukáš Balik (Spaceflow): Proptech key to consistent ESG compliance](https://theprime.cz/smart-development/proptech/lukas-balik-spaceflow-proptech-key-to-consistent-esg-compliance/) - Proptech companies are increasingly positioning themselves in a way that will enable them to help building owners meet their ESG commitments. That's the context behind the decision by Spaceflow and Flowbox to launch a partnership named after the one syllable their two names share: FLOW. It's a strategic step for Spaceflow, a Prague-based company that
- [CTP achieves low ESG Risk score in Sustainalytics audit](https://theprime.cz/news/companies/ctp-achieves-low-esg-risk-score-in-sustainalytics-audit/) - CTP N.V. achieved a low-risk score of 11.0 in its first-ever ESG Risk rating as carried out by Sustainalytics. The ESG Risk score measures the degree to which the enterprise value of a company is exposed to material financial impacts from ESG (environmental, social and governance) factors. Results between 10-20 are considered to be "Low
- [DL Invest installing beehives in pilot project](https://theprime.cz/sectors/offices/dl-invest-installing-beehives-in-pilot-project/) - The Polish property company DL Invest Group has begun a pilot project involving the introduction of bee hives to its warehouse and logistics investments. The first five hives have been installed at its DL Invest Park Psary, but more are to follow in the company's other warehouses as well as on the roofs of office
- [Max Verteletskyi (Spaceti): Sharing building data to build trust](https://theprime.cz/smart-development/proptech/max-verteletskyi-spaceti-sharing-building-data-to-build-trust/) - There's a tendency to reduce what proptech companies offer to an assortment of competing cool gadgets. Spaceti's CEO Max Verteletskyi explains that conference room booking and parking reservations systems are only part of a larger shift to continual building performance monitoring. By tracking multiple data points and sharing the information, landlords can build trust with
- [Skanska kicks off Port7 leasing with Eye Centre Prague](https://theprime.cz/news/leases/skanska-kicks-off-port7-leasing-with-eye-centre-prague/) - The leasing of Port7 is off and running as Skanska's latest business center development in Prague – Holešovice has picked up its first tenant. The Eye Centre Prague clinic will fill a 1,600 sqm unit on the ground floor of the 'Edinburgh' building. The deal with this sort of healthcare provider illustrates the high priority
- [3Things: Land corruption, car batteries and trucks](https://theprime.cz/news/companies/3things-land-corruption-car-batteries-and-trucks/) - The former director of the Slovak Land Fund (SPF) Adriana Šklibová has admitted to accepting thousands of euro in return for manipulating the public institution's decisions. She was one of seven people arrested by police, including the woman who replaced her in the fund. The judge hearing the case Ružena Sabová described the activities of
- [ERSTE Realitná Renta buys J&T's Zuckermandel in Bratislava](https://theprime.cz/news/real-estate-investment/erste-realitna-renta-buys-jts-zuckermandel-in-bratislava/) - Gunther Mandl announced that ERSTE Realitná Renta has acquired the offices in J&T Real Estate's Zuckermandel project. The chairman of the board of Slovenská sporiteľňa Asset Management said it was fund's first acquisition. "Investors in our fund over the past 18 months have therefore become co-owners of one of the best office buildings in Slovakia,"
- [Contera lines up TietoEVRY for Organica office project in Ostrava](https://theprime.cz/sectors/offices/contera-lines-up-tietoevry-for-organica-office-project-in-ostrava/) - Contera is developing a six-floor office building next to the Forum Nová Karolina on a brownfield site it bought from the city for CZK 95 million through a tender. The 23,300 sqm office building, called Organica, will offer floorplates of up to 4,200 sqm. Ostrava might not be the first place most investors would choose
- [Mark Robinson (EnCor Wealth Management): Inflation is happening](https://theprime.cz/news/finance/mark-robinson-encor-wealth-management-inflation-is-happening/) - We spoke a couple of months ago about your concerns that that inflation might be on the way. What's happened since then? What's happened in the past two months is we're having an inflation car crash in slow motion. The latest figures that we're seeing in America, the Czech Republic and elsewhere suggests that inflation
- [Marek Pohl (Savills): New leasing holds key to tomorrow's office yields](https://theprime.cz/news/leases/marek-pohl-savills-new-leasing-holds-key-to-tomorrows-office-yields/) - Your foreign-based clients most likely know exactly what the RICS approach to valuations is, but there are a lot of new local property investors in the Czech Republic. How do you find local acceptance of international valuations? Familiarity with the RICS is still low within parts of the real estate market, even though some of
- [Rising prices threatens the return to normal](https://theprime.cz/news/rising-prices-threatens-the-return-to-normal/) - Steel, plastic and chemicals. Prices for anything that's made with those things are are rising quickly. Lidové noviny writes that the return to normal life is coming with a price tag that's considerably higher than it was a year ago. Prices are also rising on fuel, copper and construction materials. Adding to the sense of
- [Czech Television on land price for Smichov City](https://theprime.cz/news/companies/czech-television-on-land-price-for-smichov-city/) - Construction on the Smichov City is finally underway, meaning a no-man's land that has scarred Prague 5 for decades will finally be transformed. The project's impact on the city is hard to exaggerate, not least thanks to the creation of modern transportation hub that will bring together buses, trams, trains and a major new Park
- [3Things: ZDR buys in DE, mortgage rates up & Getberg](https://theprime.cz/news/real-estate-investment/3things-zdr-buys-in-de-mortgage-rates-up-getberg/) - They predicted the end of cheap mortgages over a year ago, but this time, economists claim it's the real thing. Denik.cz writes that Hypoteční banka raised its rates at the beginning of March by 0.2 percent only to be followed by smaller competitors like Air Bank, Equa Bank and FioBank. Then the market leader Česká
- [Flat Zone: Prague resi rents drop 9.6% in Q1](https://theprime.cz/sectors/residential/flat-zone-prague-resi-rents-drop-9-6-in-q1/) - Compared to a year ago, the average rent for an apartment in Prague fell 9.6% in Q1 to CZK 303 per square meter. Not surprisingly, that figure was accompanied by a year-on-year rise of 25% in the number of units on offer to 15,400. That's the highest number of flats for rent in the Czech
- [AFI Europe invests in air purification for offices](https://theprime.cz/smart-development/proptech/afi-europe-invests-in-air-purification-for-offices/) - AFI Europe is introducing an innovative air cleaning technology into its Czech office buildings that's capable of removing viruses such as SARS-COV-2 from circulation. The technique involves installing equipment into HVAC units governing the building that releases ions into the airstream. Ions, which occur naturally as well, are positively or negatively charged atoms that seek
- [3Things: Logicor, William Matthews Associates and UBM's Astrid Offices](https://theprime.cz/projects/3things-logicor-william-matthews-associates-and-ubms-astrid-offices/) - Competition on the Czech industrial scene is set to get even stiffer with the announcement that Logicor launched a new office in Prague as May 1. At the same time, it put Pavel Rufert in charge of the office, appointing him as its Senior Development and Asset manager. He'll be responsible for strengthening Logicor's presence
- [VGP Park Plzeň, Primark to open, IKEM to build](https://theprime.cz/news/leases/vgp-park-plzen-primark-ikem/) - Primark's flagship store in Prague is gearing up for an opening, writes E15, which noticed that online employment advertisements. It also noted that the Czech language is beginning to show up on the discount fashion retailer's international website, including useful information such as "the upcoming opening of Primark's store at Wenceslas Square 47" which shows
- [Michal Hink joins Heimstaden](https://theprime.cz/news/companies/michal-hink-joins-heimstaden/) - Michal Hink has left the Dentons in Prague to work client-side for Heimstaden, the European residential rental giant. He's been appointed as head of the company's legal division for all of its investment activities across Europe. Heimstaden currently owns, manages and is expanding its portfolio of 114,000 flats in seven European countries. In the last
- [Shopping returns -- without the crowds](https://theprime.cz/news/companies/shopping-returns-without-the-crowds/) - For many men, the good times ended Monday morning at 9 a.m. when thousands of stores opened their doors after months of government-enforced bans on shopping. But while lines formed outside Czech Ikea stores ahead of the dreaded moment, they didn't last long. In order to reassure customers who are still worried about catching Covid,
- [JRD tries Prague's office market with Viadukt Anděl](https://theprime.cz/news/companies/jrd-tries-pragues-office-market-with-viadukt-andel/) - The residential developer JRD has just achieved planning permission for its first-ever office building, a 6,500 sqm structure in Prague 5 called Viadukt Anděl. It's working with the investor Property N74 to create an energy efficient office building that will be leased out by JLL. In line with its traditional commitment to high-tech, sustainable developments,
- [Accolade makes first investment in The Netherlands](https://theprime.cz/news/real-estate-investment/accolade-makes-first-investment-in-the-netherlands/) - Accolade is the latest Czech-based industrial developer to expand into The Netherlands. CEO Milan Kratina said the company's first investment of over CZK 1 billion would be in a modern industrial park of 43,000 sqm in the Venlo region. "Investing in Holland is a logical step in the diversification of our portfolio towards western Europe
- [3Things: Kara's collapse, more inflation & chip pain](https://theprime.cz/sectors/retail/karas-collapse-more-inflation-chip-pain/) - Inflation is on the way in CEE, but it's Hungary and Poland that have economists at ING worried. In Poland, CPI broke through the 4% barrier, while May's figures in Hungary could extend beyond 5%. "Neither of the central banks is overly keen to react as they clearly prefer the growth factor over inflation," writes
- [Radim Passer: Prague's the winner when new offices are built](https://theprime.cz/news/leases/radim-passer-pragues-the-winner-when-new-offices-are-built/) - Nobody believes the office is dead, just as no one believes offices won't be changed by the pandemic. What are the signals you're getting from clients about the future? We understand the situation will be different, such as space planning. Companies will need more space for socializing and fewer dedicated tables which could mean a
- [Stores opening, inflation up, CPI looks at Italy](https://theprime.cz/news/companies/3things-stores-opening-inflation-up-cpi-looks-at-italy/) - On Saturday, the number of new cases of Covid-19 slipped below 1,000 in the Czech Republic for the first time since September. Which is one of the reasons first indicator economists (who are always nervous) have been looking at recently is inflation. On Sunday, their fears were fulfilled as preliminary estimates are putting April's inflation
- [Realia adds Jaroměř retail park to growing portfolio](https://theprime.cz/news/real-estate-investment/realia-adds-jaromer-retail-park-to-growing-portfolio/) - Realia fund SICAV has bought the Jaroměř Retail Park, a 1,400 sqm asset with five units. The Czech real estate fund for qualified investors acquired the park from a private owner and says another acquisition should be completed in May. Tomáš Oplíštil says the park benefits from a Kaufland and Lidl grocery store in the
- [Loudová named Tétris MD, ČNB's GDP downer, PPF's Moneta deal](https://theprime.cz/news/companies/3things-lucie-loudova-tetris-md-gdp-downer-ppfs-moneta-deal/) - Lucie Loudová has been appointed as the new managing director of the Tétris branch in Prague. Loudová will remain in charge of business development, which she assumed control of in 2019, but now assumes full responsibility for the company's growth. „I have been extremely impressed with Lucie’s hard work, drive and dedication to Tetris since
- [Peter Noack (Zeitgeist): Rental residential isn't right for all investors](https://theprime.cz/sectors/residential/peter-noack-zeitgeist-rental-residential-isnt-right-for-all-investors/) - Traditionally, investors in the Czech Republic have looked for developers to build and sell projects for them in order to make their return. Only now are they moving into multifamily product. You went straight into the multifamily (rental) sector. Why? It depends on the type of investor you have. Ours is a German pension fund.
- [Zeitgeist's long-term bet on rental resi now paying off](https://theprime.cz/news/real-estate-investment/zeitgeists-long-term-bet-on-rental-resi-now-paying-off/) - In the early years after founding Zeitgeist Asset Management, the residential investor Peter Noack had to put up with the knowledge that many found his focus on rental properties to be a little eccentric. "Everyone thought we were a little bit crazy," he said, speaking from a cottage in Šumava. "They said nobody wants to
- [Tatra banka to finance Metropolis in Bratislava](https://theprime.cz/news/finance/tatra-banka-to-finance-metropolis-in-bratislava/) - Mint Investments has chosen Tatra banka as its financing partner in Bratislava for its residential project Metropolis. The bank is providing a €42 million construction loan, which will also cover preliminary construction work. Sebastien Dejanovski of Mint Investments said the deal with Tatra would provide a strong guarantee for potential clients and enhance confidence in
- [Construction of Metropolis begins in Bratislava](https://theprime.cz/sectors/residential/construction-of-metropolis-begins-in-bratislava/) - Construction got underway today in central Bratislava on Metropolis, Mint Investment's 298-unit residential project that's already 40% sold. The construction plot was fenced off two weeks ago to allow geodetic measurements to be completed, clearing the way for excavation to begin. The foundation and substructure should be completed within nine months. The project includes apartments
- [Arbfaa Capital's row homes and flats selling out in Tursko](https://theprime.cz/news/companies/arbfaa-capitals-row-homes-and-flats-selling-out-in-tursko/) - Brian Murphy's company Arbfaa Capital (previously Euro Ventures) acquired the land on which he developed U Turskeho rybnika well over a decade ago. But this isn't the standard story of a developer who who struggled with building licenses for years. Murphy bought the plot in 2008 near the end of the last investment boom and
- [Arcadis: Prague construction prices 67th worldwide](https://theprime.cz/news/companies/arcadis-prague-construction-prices-67th-worldwide/) - Construction prices in Prague are higher than they are in Warsaw and Belgrade, but they're lower than those investors have to deal with in Zagreb, Bucharest and Sofia. According to Arcadis, the Czech Republic placed 67th worldwide 2020, which is exactly the same place as in 2019. When it comes to construction activity, the public
- [Amphenol leases space in Panattoni Park Ostrov North](https://theprime.cz/news/leases/amphenol-panattoni-ostrov/) - Amphenol Tuchel Industrial is to be the first tenant in the new Panattoni Park Ostrov North. The electronic and fiber optic connectors producer will be occupying part of the smaller of two buildings that Panattoni will build beginning in the second half of the year. The industrial park is a brownfield project being built in
- [Blackbird Real Estate developing 1,400 flats in Pardubice project](https://theprime.cz/news/companies/blackbird-re-developing-1400-flats-in-pardubice-project/) - Blackbird Real Estate is closing in on a construction permit for U Červeňáku, a major residential project on a 250,000 sqm brownfield site in Pardubice. Construction could get underway by fall on the first phase of the project, which will include roughly 370 of the total 1,400 apartments and homes. Director Jan Kotaška says that
- [3Things: Křetínský between Hard Rock Hotel and Mall place](https://theprime.cz/news/leases/3things-kretinsky-between-hard-rock-hotel-and-mall-place/) - Construction work has been halted on The Hard Rock hotel that billionaire Daniel Křetínský was building next to the Sparta football stadium in Letna, Prague 7. Seznam.cz reports that the project is being revised in view of the impact of the pandemic on tourism. As a result, the bulldozers that had been doing groundworks disappeared
- [The Awakening Begins: Health & beauty today, stores May 10](https://theprime.cz/sectors/retail/the-awakening-begins-health-beauty-today-stores-may-10/) - If you don't count the three week window in December that helped set the stage for one of the world's worst Covid outbreaks, non-essential stores in the Czech Republic have been closed since October. Today, a handful of smaller stores will be allowed to open, including hairdressers, beauty salons will be allowed to open, though
- [ARTN: Inflation under control, except for wild resi market](https://theprime.cz/sectors/offices/artn-inflation-under-control-except-for-wild-resi-market/) - I had the opportunity to watch the ARTN webcast which featured the presentation of the association's annual Trend Report 2021 and a discussion on the future of real estate. We've all spent far too many hours recently in sterile, online presentations that lack genuine, interactive debate. Luckily, in this case, the program featured stalwarts of
- [Savills: Prague offers 6th best value for warehouse space](https://theprime.cz/sectors/industrial-logistics/savills-prague-offers-6th-cheapest-value-for-warehouse-space/) - In a Savills study of 54 warehouse markets across the world, Prague ranked among the 10 cheapest. In a European context, only the Polish submarkets like Warsaw, Poznan, Wroclaw and Tri-City came out as more cost effective. In addition to rent, the study took into account taxes, service charges, diesel and electricity costs and the
- [WOOD & Co. buys Aupark as Unibail Rodamco Westfield sell-off continues](https://theprime.cz/news/real-estate-investment/wood-co-buys-aupark-as-unibail-rodamco-westfield-sell-off-continues/) - Wood & Company has announced an agreement with Unibail Rodamco Westfield (URW) to acquire Aupark Bratislava for €450 million. Wood & Company is the transaction leader with its JV partner Tatra Asset Management. They will acquire an initial 60% interest in Aupark before taking over the remainder through pre-agreed stakes in 2022, 2023, and 2024.
- [CPI's new Spektrum includes non-traditional tenants](https://theprime.cz/sectors/retail/cpi-spektrum-cestlice/) - The latest addition to the Czech Republic's retail stock has replaced what was nearly its oldest shopping center. CPI's project Spektrum in Čestlice stands on the spot where a shopping mall with the same name opened in 2018 just a week after Centrum Černý Most. However, while CČM was designed sensibly with plenty of room
- [Manifesto partners with Adyen for cashless payments](https://theprime.cz/smart-development/proptech/manifesto-partners-with-adyen-for-cashless-payments/) - The cashless food market operator Manifesto has struck an agreement with the payments platform Adyen. The deal will allow Manifesto to handle both in-market sales as well as online transactions, including Manifesto's marketplace delivery model. Manifesto's founder Martin Barry said a key reason the company had chosen Adyen's system was that it enables companies to
- [C&W: Czech retail park stock tops 1 million sqm](https://theprime.cz/news/companies/cw-czech-retail-stock-tops-1-million-sqm/) - There hasn't been much action on the shopping mall front in the past year, but developers built 55,000 sqm of new lettable space in 23 retail parks. That's according to Cushman & Wakefield, which reports that the aggregate area of the sector now exceeds 1 million sqm in 250 Czech retail parks. The largest percentage
- [Q1 Czech investment volume down just slightly, writes Savills](https://theprime.cz/news/real-estate-investment/q1-czech-investment-volume-down-just-slightly-writes-savills/) - A total of €290 million in real estate deals was transacted in the Czech Republic during Q1 2021, according to a new report by Savills. If the €1.3 billion Residomo portfolio sale transaction from last year is taken into account, the investment volume was only down by 8% y-o-y. In all, there were 13 deals
- [Fashion Friday: H&M and Zalando thinking green; Bakala bust](https://theprime.cz/sectors/retail/fashion-friday-h-bakala-bust/) - Here's a cool concept: The Czech company OPT OnDemand has used growing environmental demands by consumers to carve out a place for itself in the global fashion industry. Hospodářské noviny writes that the company is working with H&M to allow European consumers to have specific pictures or designs printed on blank shirts. Under the usual
- [Tatra banka leads €116m syndicated loan for Eurovea extension](https://theprime.cz/news/finance/tatra-banka-leads-e116m-syndicated-loan-for-eurovea-extension/) - Eurovea 2 has secured €116 million loan that will be used to construct the extension of the Eurovea shopping center and Pribinova X office building in Bratislava. Tatra banka led the syndicate of banks (together with Slovenská sporiteľňa and UniCredit Bank) that provided the construction loan. Dentons prepared the contract documentation. Eurovea a.s. board chairman
- [Alfa Residence at the Luka station 40% sold](https://theprime.cz/news/companies/alfa-residence-at-the-luka-station-40-sold/) - The real estate agency Lexxus reports that with work on the foundation of Mint Investments' project Alfa Resident completed, 40% of the units have already been sold. The developer has chosen GEMO a.s. as the general contractor for the project, which is located at the Luka metro station on Prague's B-line. Work is about to
- [Scallier chooses Romania for its retail park expansion plans](https://theprime.cz/news/real-estate-investment/scallier-chooses-romania-for-its-retail-park-expansion-plans/) - With investor demand for retail parks reaching fever pitch in recent months, some developers in the Czech Republic are looking to neighboring countries like Poland for expansion. To find out if the interest is mutual, I spoke with Scallier, a prominent asset manager of retail parks in Poland. Its managing director Wojciech Jurga said the
- [Prague wants land back from Russia, Mall.cz loans, and JRD](https://theprime.cz/news/leases/3things-prague-wants-land-back-from-russia-mall-cz-loans-and-jrd/) - The City of Prague has used outrage over Russia's involvement in an explosion at a Czech munitions facility to demand land back from the Russian embassy in Prague. During the Russian-led invasion of Czechoslovakia that ended the Prague Spring in 1968, Russian soldiers occupied around 5,000 sqm of land around the diplomatic facility that borders
- [Up in smoke: Invitation to Dukovany tender unlikely for Rosatom](https://theprime.cz/news/project-news/up-in-smoke-invitation-to-dukovany-tender-unlikely-for-rosatom/) - Last week, it still looked as if the Russian company Rosatom could be invited to take part in the upcoming tender to build a new generator block at the Dukovany nuclear power plant. Those plans went up in smoke, however, following revelations that an explosion in a military munitions facility back in 2014 was engineered
- [IRQ Funds seeks higher returns through resi development](https://theprime.cz/news/real-estate-investment/irq-funds-seeks-higher-returns-through-resi-development/) - One of the newest vehicles to have been created for qualified investors looking for exposure on the Czech residential market is IRQ Funds. It's been put together by three partners from three different backgrounds: Investment manager Martin Pětivoký, owner of the developer Realism Martin Hubinger and Zdeněk Tůma, a former governor of the Czech National
- [Out-of-Prague demand driving Getberg's East Gardens project](https://theprime.cz/projects/prague-getberg-east-gardens-residential/) - The developer Getberg's residential project East Gardens in Strančice outside Prague is demonstrating that demand for living outside the capital is high. Its sales are bolstering the results of countless surveys and real estate agents who claim the pandemic has pushed consumers into fundamental lifestyle changes, and getting out of the city was one of
- [Sportisimo's 90,000 sqm shed by Contera to complete in 2022](https://theprime.cz/news/leases/sportisimos-90000-sqm-by-contera-to-complete-in-2022/) - The sporting goods retailer Sportisimo will be occupying a 90,000 sqm logistics hub in Contera Park Ostrava D1 in Hrušov-Ostrava. The massive new facility with 25-meter ceilings will offer jobs to around 700 people while bringing life to a brownfield site that had lain dormant for years. The deal was brokered by Colliers International's Lukáš
- [Old flat prices flying as Prague renews fight with Airbnb](https://theprime.cz/sectors/residential/old-flat-prices-flying-as-prague-renews-fight-with-airbnb/) - As the price of new flats in Prague has skyrocketed, people with average wages have been left with two options: moving outside the city, or looking for older flats. New data from Flat Zone, which tracks offer prices, suggests that the second of those options may not be possible for long. In a newly released
- [Radka Novak (Cushman & Wakefield): Ideas happen in the kitchenette](https://theprime.cz/sectors/offices/radka-novak-cushman-wakefield2-ideas-happen-in-the-kitchenette/) - With the pandemic hopefully winding down, decisions on workplaces will have to be made. Do employers actually know how much more (or less) efficient their employees are from home? Are corporations really benchmarking productivity? When clients tell me their people are not as productive working at home, I ask them "how they measure it? And
- [Construction of 1st Czech Ronald McDonald House underway at Motol](https://theprime.cz/sectors/residential/construction-of-1st-czech-ronald-mcdonald-house-underway-at-motol/) - Construction has begun in the Motol hospital complex in Prague 5 on the first Ronald McDonald House in the Czech Republic. The building will enable the hospital to offer the parents of children with life-threatening diseases to live near them while treatment is ongoing. The CZK 70 million needed to construct the building was donated
- [Heimstaden pledges CZK 1.5bn in building improvements](https://theprime.cz/news/companies/heimstaden-pledges-czk-1-5bn-in-building-improvements/) - The Swedish property company Heimstaden is investing CZK 1.5 billion into its housing portfolio, including repairs, insulation installation and work on new developments. Its director Jan Rafaj said the investments were in line with promises the company made when it acquired its Czech portfolio last year to invest profits immediately into building improvements. Last year,
- [Skanska appoints Jana Prokopová as Leasing & Asset Director](https://theprime.cz/news/companies/skanska-appoints-jana-prokopova-as-leasing-asset-director/) - Jana Prokopová has been appointed Leasing & Asset Director for the Czech Republic at Skanska‘s Commercial Development business unit. The move took effect at the beginning of April. Her promotion follows strong results in recent years in leasing Skanska's office projects in Prague (in particular Parkview, Praga Studios and Visionary). She was also involved in
- [Ian Bryan: Focusing on rich facades and the spaces between buildings](https://theprime.cz/projects/ian-bryan-focusing-on-rich-facades-and-the-spaces-between-buildings/) - Ian Bryan launched his architectural and interior design practice IBA in 1997 to build a practice that includes senior team members who have been with the company for over 20 years. Together with his partner Edo Trembulak, the company has worked on a wide range of prominent projects, the most recent of which include Hagibor
- [AFI Europe buying Avenir Business Park from Tristan Capital Partners/Mint Investments ](https://theprime.cz/news/real-estate-investment/afi-europe-buying-avenir-business-park-from-tristan-capital-partners-mint-investments/) - AFI Europe has signed a contract for the acquisition of Avenir Business Park in Prague 5 from a fund run by Tristan Capital Partners. The 25,600 sqm asset is managed by local operating partner and co-investor Mint Investments. Following a substantial refurbishment program through which the property was repositioned as an institutional asset, occupancy at
- [Curran: Workplace consultancy and project management will dominate](https://theprime.cz/sectors/offices/curran-workplace-consultancy-and-project-management-will-dominate/) - It's likely going to take a year or two before we get a handle on exactly how the deep the pandemic's disruption of Prague's agency market goes. But the fault lines of this earthquake definitely run through Knight Frank, the oldest of the international names and arguably the one that identifies most strongly as Czech.
- [3Things: February construction tanks, YIT, and aid (at last) for exhibitions](https://theprime.cz/news/project-news/3things-february-construction-tanks-yit-and-aid-at-last-for-exhibitions/) - YIT has opened a showroom apartment for the 9th phase of its huge Suomi Hloubetin project in Prague 9. Construction of the penultimate stage of this huge project got underway in November 2019 and is due for completion in the fall. When the tenth and final phase of Suomi Hloubetin is completed, the project will
- [Decision time for Prague Congress Center](https://theprime.cz/projects/decision-time-for-prague-congress-center/) - There was a sudden flash of interest in the Prague Congress Center (PCC) this week because the building celebrated the 40th anniversary of its opening. The building remained empty on its birthday, of course, just as it has been for the past year. With vaccinations now being administered (albeit at glacial speed) and the first
- [Panattoni leases to Marmon, Vlček buys Cibulka (and more)](https://theprime.cz/projects/accolade-leases-to-marmon-vlcek-buys-cibulka-and-more/) - Panattoni and its investment partner Accolade have leased 12,000 sqm of space to Marmon Foodservice at its industrial park at the Brno airport. Marmon announced in a press released that it was shifting its production of refrigeration units to the site from Germany and Great Britain because the location would allow it to service its
- [3Things: Stores to open, Prague's rental agency and 108 Agency's map](https://theprime.cz/news/companies/3things-stores-to-open-pragues-rental-agency-and-108-agencys-map/) - With the daily infection numbers down to where they were 10 days before Christmas, stores and services are set to open up again on May 3. The government is due to decide today under what conditions they'll be allowed to open. Among the hottest topics up for discussion are whether one-on-one services like hair and
- [Did electronics retailer OKAY changed timesheets to qualify for support?](https://theprime.cz/news/companies/did-electronics-retailer-okay-changed-timesheets-to-qualify-for-support/) - The Czech electronics retailer Okay was reportedly asking its employees to agree to let their timesheets be changed in order for the company to qualify for support through the Antivirus program. Denikn.cz writes that it spoke with several employees who said that most of their colleagues agreed to along with the plan, mostly out of
- [Paul Deverell: Artificial Intelligence leads to transparency](https://theprime.cz/smart-development/proptech/paul-deverell-future2-ai-can-help-meet-occupier-demands-for-transparency/) - Is AI something property professionals should be aware of because it's the future? Or because if they're not implementing it today in buildings, they're already falling behind? Definitely it’s something professionals should be aware of and I think many people are. With regards to falling behind, I don’t think that applies only to AI but
- [3Things: Mortgages peak, PPF in USA, UDI building on D1](https://theprime.cz/news/real-estate-investment/3things-mortgages-peak-ppf-in-usa-udi-building-on-d1/) - In what's being compared to last minute Christmas shopping, over 14,000 Czech consumers stormed banks in March to take out mortgage loans. Widespread belief that interest rates have bottomed out and are on the way up led to a record-breaking CZK 44.7 billion in mortgages contracts being signed last month. The deals were a mix
- [Private student residences control just 9% of Prague market](https://theprime.cz/sectors/residential/private-student-residences-control-just-9-of-prague-market/) - The student housing sector in Prague has suffered a terrible 12 months, but a recent report by Savills makes it clear that there's huge room for growth. The most telling statistic is that university-owned dormitories currently offer 91% of the 28,400 beds located in all purpose-built student accommodation (PBSA) in the city. The remaining 9%
- [Alexandra Tomášková to join JLL as Head of Office Solutions](https://theprime.cz/news/companies/alexandra-tomaskova-to-join-jll-as-head-of-office-solutions/) - JLL has appointed Alexandra Tomášková as Head of Office Solutions in a move that take effects on May 1. Tomášková will focus on the office sector with direct oversight of the firm's Office Leasing businesses together with Workplace Strategy and Project Management. She's also going to be cooperating with JLL’s Tétris Design & Build and
- [Redevelopment of Komerční banka building on Na Příkopě takes shape](https://theprime.cz/sectors/offices/redevelopment-of-komercni-banka-building-on-na-prikope-takes-shape/) - Plan & Bau's redevelopment of the old Komerční banka building on Na Příkopě could serve as a case study in the challenges and rewards that face the owners of the huge structures constructed a century ago. Vincent Marani, whose company Marani Architects is in charge of design and permitting, has been working on the project
- [Rail repairs mean 3 years of train delays](https://theprime.cz/projects/rail-repairs-mean-3-years-of-train-delays/) - For the past several years, driving between Prague and Brno has been a nightmare because of seemingly endless reconstruction work on the D1. The Czech government decided to divide the work on the country's oldest highway into 21 individual projects and scheduled them for completion at a rate of four or five each year. Many
- [Newcomer SFG Real Estate Fund targets discounted resi projects](https://theprime.cz/news/finance/sfg-real-estate-fund-targets-discounted-resi-projects/) - The new SFG Real Estate Fund was set up for speed. Its director Michal Dědek describes the fund had to come together quickly in order to be positioned to acquire real estate projects hit by the pandemic. Even the fund's structure (a limited company with investment certificates) was chosen because it could be completed far
- [3Things: CTP buys in Žilina, CBRE in SK, and the building law showdown](https://theprime.cz/news/companies/3things-ctp-buys-in-zilina-cbre-in-sk-and-the-building-law-showdown/) - CTP has acquired an existing industrial park in Žilina near the city's airport that offers additional development opportunities. When completed, the park will provide 145,000 sqm of lettable space. CTP is planning to double its current Slovak portfolio of 460,000 sqm, spread over 12 locations, at a cost of €200 million. CTP Slovakia's head Stanislav
- [Immocap lays out plans for the new Istropolis](https://theprime.cz/urban-planning/immocap-lays-out-plans-for-the-new-istropolis/) - One of the projects the Slovak developer Immocap spent the last 3 years working on the project New Istropolis, a mixed-use scheme whose primary contribution to central Bratislava will be a new venue for cultural and commercial events. Speaking with its director Martin Šramko about the planning that's gone into this scheme, you realize how
- [Crescon and DRFG both unveil new resi projects](https://theprime.cz/sectors/residential/crescon-and-drfg-both-unveil-new-resi-projects/) - The developer Crescon is building a new luxury apartment complex called Aldrov Apartments & Resort in the Krkonoš mountains. Most of the units will offer underground parking and lockers where skiing and sports equipment can be stored. The first phase of the project is made up of three buildings with 64 apartments of larger size.
- [Panattoni expanding Tchibo's Cheb shed to 103,000 sqm](https://theprime.cz/sectors/retail/panattoni-expanding-tchibos-cheb-shed-to-103000-sqm/) - Panattoni is expanding the distribution center it built for Tchibo in Cheb for the second time, which will allow the building to offer a capacity of 50,000 pallet spaces. Originally a coffee retailer, the company has transformed its brand so that it now sells a constantly changing assortment of clothing and various domestic knick-knacks. This
- [Cottage fever: Prices up 30%, supply down to 900](https://theprime.cz/news/cottage-fever-prices-up-30-supply-down-to-900/) - Demand for cabins in recreational areas of the Czech Republic is up 30% since last year, according to the Bidli real estate agency. Supply has fallen drastically, with just around 900 properties currently for sale. Last summer, there were roughly 2,000. With new projects emerging only slowly, prices have risne nearly 30% in recent months.
- [CBRE: Two-thirds of stores in malls now have e-shops](https://theprime.cz/news/companies/cbre-two-thirds-of-stores-in-malls-now-have-e-shops/) - Two-thirds of all shops in Czech shopping centers have their own e-shop, according to the results of a new survey by CBRE of over 100 retailers. This alternative sales channel has helped them reduce the impact of the pandemic. Interestingly, 15% of their online sales are handled on the largest local platforms such as Alza,
- [Construction of new Saunia begins in Thermal Hotel Karlovy Vary](https://theprime.cz/news/leases/construction-of-new-saunia-begins-in-thermal-hotel-karlovy-vary/) - Following more than two years of work, construction of the newest Saunia center has begun in the famous Karlovy Vary's Thermal hotel. The project is significant not just because it's in one of the country's best-known hotels, but because the company is renovating and will later operate the hotel's 50-meter pool and its restaurant. This
- [Petr Kellner dies in tragic helicopter crash](https://theprime.cz/news/companies/petr-kellner-dies-in-tragic-helicopter-crash/) - PPF Group founder and owner Petr Kellner has died tragically at the age of 56 in the state of Alaska in a helicopter accident along with four other victims. The news was first reported by the New York Times and was later confirmed by PPF spokeswoman Jitka Tkadlecová. She said Kellner's funeral would take place
- [3Things: Horizon resi in Statenice, B&Bs sold and ČNB bulks up](https://theprime.cz/news/real-estate-investment/3things-horizon-statenice-bandb-sold-and-cnb-bulks-up/) - Banks in the Czech Republic are likely to lose the slight level of wiggle room they've enjoyed until now when it comes to setting their own loan conditions. The lower house of Parliament has approved an amendment to the law on the Czech National Bank that will give it the final say over what banks
- [Microsoft tells employees they can work from home, forever....for less](https://theprime.cz/sectors/offices/microsoft-tells-employees-they-can-work-from-home-forever-for-less/) - The problem for the office sector is that it has been shown to be expendable. Sure, most bosses would prefer being able to see their employees showing up every day at 9 a.m. and most employees like the give and take of the office environment. There's no doubt, either, that junior staff benefit from seeing
- [CPI opens rebuilt Spektrum in Čestlice](https://theprime.cz/news/companies/cpi-opens-rebuilt-spektrum-in-cestlice/) - CPI Property Group began the demolition of the Spektrum shopping center in Čestlice in 2019, pledging to rebuild a new version more suited to today's shopping patterns. The old building was an awkward structure that may have made sense when it was build two decades ago, but which had no chance of surviving the onslaught
- [CTP raises €854m through successful Euronext listing](https://theprime.cz/news/finance/ctp-raised-e854m-through-successful-euronext-listing/) - Nearly 26 years after building his first warehouse mid-way between Prague and Brno along the D1 motorway, Remon Vos stood together with his team on a podium in Amsterdam's Euronext exchange to mark the beginning of trading in shares of CTP. In all, CTP offered 15.4% of its shares for sale at €14 a piece,
- [Ryan Wray to lead Avison Young's new Prague office](https://theprime.cz/news/companies/ryan-wray-to-lead-avison-youngs-new-prague-office/) - Ryan Wray has been named Managing Director of the Prague office of Avison Young, whose Czech and Bulgarian branches are set to open on April 1. The move is intended to cement the agency's growing presence in the CEE region, building on existing operations in Hungary, Poland and Romania. Wray will be working in close
- [Accolade hands over to Faiveley in Bochum brownfield](https://theprime.cz/news/companies/accolade-hands-over-to-faiveley-in-bochum-brownfield/) - The industrial investor Accolade has handed over a new turnkey facility to the railway technology manufacturer and supplier Faiveley. The €35 million investment will serve as a center for research and development, production and storage of primarily braking system products. The project has been built on a brownfield site in Bochum, Germany that Opel abandoned
- [Linkcity buys Tesla Kyjevska brownfield in Pardubice](https://theprime.cz/urban-planning/linkcity-buys-tesla-kyjenska-brownfield-in-pardubice/) - The developer Linkcity has bought the Tesla Kyjevska brownfield site from the city of Pardubice in return for a promise to create a new neighborhood on the land. Linkcity paid CZK 36 million for the land, 40% of which will be used by the Pardubice region to build a road connect the zone. Linkcity plans
- [Zdeněk Tůma teams up with Realism on IRQ Fondy](https://theprime.cz/news/finance/zdenek-tuma-teams-up-with-realism-on-irq-fondy/) - The former Czech National Bank governor Zdeněk Tůma has teamed up with Martin Pětivoký and Martin Hubinger of the developer Realism to form IRQ Funds. Its first fund is IRQ Residential Rental, which will focus on rental properties being built in popular locations in Prague and Brno. The fund's strategy is to focus on close
- [Covid Conclusions: Martin Barry (Manifesto)](https://theprime.cz/news/companies/covid-conclusions-martin-barry-manifesto/) - Manifesto was in a tight spot when the pandemic hit. What were your first moves in order to survive? We hadn't been a landlord before but we are now and we have a lot of small business tenants. That's the tough part because we really needed their money and it was only going to come
- [FedEx fit out underway at Red Group's Kotelna Park II](https://theprime.cz/news/companies/fedex-fit-out-underway-at-kotelna-park-ii/) - Red Group has begun fit out works on the top two floors of the second phase of Kotelna Park in Prague 5 for its client FedEx. The deal came together towards the end of last year, a months after the building's official completion during the pandemic-blighted summer. Director Richard Ness says they chose the contractor
- [Czech government drives battery factory project with VW and ČEZ](https://theprime.cz/sectors/industrial-logistics/czech-battery-factory-vw-cez-skoda/) - The week began with news that Volkswagen is planning to build several battery factories around Europe for use in the new line of electric vehicles it's planning. Now it's emerged that the Czech Republic is in discussions with the German automobile giant. It's hoping to forge a deal that would tie in with a project
- [Heimstaden acquires 226 rental flats in Pilsen](https://theprime.cz/news/real-estate-investment/heimstaden-acquires-226-rental-flats-in-pilsen/) - The Swedish investor Heimstaden has acquired 226 rental apartments along with five non-residential properties in the town of Pilsen. It's the same company that acquired 42,500 apartments in the Czech Republic last year from Residomo and is considered the third largest provider of rental residential services in Europe. This latest transaction is estimated to have
- [Covid Conclusions: Tewfik Sabongui (Colliers International)](https://theprime.cz/sectors/offices/covid-conclusions-tewfik-sabongui-colliers-international/) - What has the past year taught you about doing business and/or about life? Something we should remember once we begin to return to normal. Without wanting to sound arrogant, the experience wasn't about teaching or being taught. Instead, it's been more a confirmation of a principle I've always believed in and lived by: that there
- [Žoldak (HERRYS): Low supply limiting Bratislava's resi demand](https://theprime.cz/sectors/residential/filip-zoldak-herrys-bratislavas-residential-demand-slipping-because-of-limited-supply/) - How did 2020 begin for your company? We had the same level of sales in January and February as we've had in previous years but then it changed when the Coronavirus came in March. There was real fear and for 2-3 weeks, nothing was sold. People stopped doing anything but taking care of taking their
- [Coronavirus conclusions: Andrew Peirson (JLL)](https://theprime.cz/sectors/offices/coronavirus-conclusions-andrew-peirson-jll/) - The Covid-19 pandemic has had such a devastating impact on people, on society and on the economy that the least we can do is to learn from it. As we mark the 1-year anniversary of the first European lockdowns, ThePrime will feature a few reader responses we received to a short survey. Andrew Peirson (JLL)
- [Martin Baláž (Prologis): Industrial vacancy near 0%, Prague rents rising](https://theprime.cz/news/companies/martin-balaz-prologis-industrial-vacancy-near-0-prague-rents-rising/) - ThePrime spoke with vice president, country manager for Czech Republic and Slovakia Martin Baláž about how the pandemic impact business when it disrupted the entire world a year ago. How did you react to the sudden lockdown that began nearly a year ago? At this time last year in March, the pandemic caused a big
- [Frederic Le Fichoux (C&W): Prague's hotels will frustrate the vultures](https://theprime.cz/news/real-estate-investment/frederic-le-fichoux-cw-pragues-hotels-will-frustrate-the-vultures/) - It would seem logical after a year's worth of lockdowns, the collapse of tourism and enforced closures that Prague's hotel sector would be on its knees. But Cushman & Wakefield's Head of Hotel Transactions Frederic Le Fichoux says that hotel owners have slashed expenses, improved efficiency and are confident of surviving once restrictions are lifted.
- [Accolade building for InPost in Bialystok](https://theprime.cz/news/companies/accolade-building-inpost-bialystok/) - The Czech industrial developer Accolade will be adding another two buildings to its Polish portfolio in Bialystok through a €33 million investment. The first tenant of the A-class warehouse will be the Polish-based complex logistics provider InPost, and is due to be available by September. InPost has cooperated with Accolade already in Częstochowa, Zielona Góra,
- [ČNB seeks greater power over banks as February mortgages smash record](https://theprime.cz/news/finance/cnb-seeks-greater-power-over-banks-as-february-mortgages-smash-record/) - Mortgages are the story that just won't stop. Far from depressing residential sales and prices, Czechs have reacted to the epidemic by buying up as much of the country's available real estate as possible. And the mania appears to be infectious as Czechs took out CZK 29.9 billion in mortgage loans in in February. That's
- [Coronavirus conclusions: Jaroslav Kaizr (Demaco)](https://theprime.cz/smart-development/proptech/coronavirus-conclusions-jaroslav-kaizr-demaco/) - The Covid-19 pandemic has had such a devastating impact on people, on society and on the economy that the least we can do is to learn from it. As we mark the 1-year anniversary of the first European lockdowns, ThePrime will feature a few reader responses we received to a short survey. Jaroslav Kaizr (Demaco)
- [Testing finds Covid-19 antigens in just 0.5% of retail employees](https://theprime.cz/news/testing-shows-retail-employee-infection-rate-just-0-5/) - According to the Czech Confederation of Commerce and Tourism (SOCR), retail chains tested all of their staff over the past week for Covid-19 and found that less than 1% of them (just 0.5%) of them had antigens for SARS-CoV-2. The group's president Tomáš Prouza said the chains had used their own medical staff or had
- [Arete completes sale of €113m fund to Cromwell European REIT](https://theprime.cz/news/real-estate-investment/arete-completes-sale-of-e113m-fund-to-cromwell-european-reit/) - Arete Group has completed the transfer of ownership of ARETE INVEST CEE II subfund to the Singapore-listed Cromwell European REIT (CEREIT). The 11 assets included in the fund are a portfolio of logistics and light industrial properties located in the Czech Republic and Slovakia leased to 17 mostly international tenants. In all, the portfolio offers
- [Rockaway buys Bringmeister, Golf Vinoř sunk, beer bikes re-banned](https://theprime.cz/projects/rockaway-buys-bringmeister-golf-vinor-sunk-beer-bikes-re-banned/) - Rockaway Capital is taking over Bringmeister, the online grocery retailer, from the German retailer Edeka. When Edeka took over Bringmeister company four years ago as part of its acquisition of Kaiser's Tengelmann, it committed not to fired any of the staff for at least five years. In its press release about the transaction, Edeka wrote
- [CPI joins PDP & Karlin Group in P7, inflation down, entrepreneurs out](https://theprime.cz/news/companies/cpi-joins-dpp-karlin-group-in-p7-inflation-down-entrepreneurs-out/) - The Prague Transport Company (PDP) is in negotiations with Karlin Group and CPI to create a joint venture to develop land around the Holešovice train station. The daily E15 broke the story with confirmation from DPP director Petr Witowski that a decision by the company's board of directors could be made on the project by
- [ASB: New tax exemptions for the sale of income-producing flats](https://theprime.cz/news/leases/asb-new-tax-exemptions-for-the-sale-of-income-producing-flats/) - If you have sold or have considered selling a house or an apartment but you are not sure about the taxes, let us take a closer look together at the statutory exemptions available to natural persons. People who sell real estate property that generates an income generally have to pay income tax on the proceeds
- [Clare Sheils (CBRE): Pricing assets easier this crisis than in 2008](https://theprime.cz/news/real-estate-investment/clare-sheils-cbre-pricing-assets-easier-this-crisis-than-in-2008/) - You trained and practiced as a valuer. There weren't too many deals over the last 12 months in Prague. Can we say really at this point what prices are? Do we really have a benchmark? It's true that the volumes were down 40% if you exclude Residomo. There were a lot of parties that were
- [Goldscheidová (Savills): Pricing for offices stable, for now](https://theprime.cz/sectors/offices/goldscheidova-jll-pricing-for-offices-stable-for-now/) - How do investors come up with prices given all the uncertainty we have today? In terms of food retail and industrial/logistics, investors have if anything become more confident about pricing. For the other group like offices, shopping centres and hospitality, it's better to be more cautious. Investors are using sensitivities and checking more scenarios than at
- [Logport building €200m city logistic portfolio around Prague](https://theprime.cz/news/companies/logport-building-e200m-city-logistic-portfolio-around-prague/) - The city logistics developer Logport has secured 330,000 sqm of land in four locations around Prague that will allow it to develop around 125,000 sqm of real estate. Most people have gotten used to hearing developers complain that there's no land around Prague But Logport's director David Vais says that depends on who's looking. The
- [3Things: Pay for planning, last call for restaurants, Toyota plant closed](https://theprime.cz/urban-planning/3things-pay-for-planning-last-call-for-restaurants-toyota-plant-closed/) - The City of Prague is working on rules that would clear up how much developers have to pay in order to make changes to the master plan. The new rules are supposed to take the place of a chaotic system of deal making that developers have to navigate in which individual municipalities think up various
- [Covid Conclusions: Sebastien Dejanovski (Mint Investments)](https://theprime.cz/sectors/offices/covid-conclusions-sebastien-dejanovski-mint-investments/) - What did you learn over the last year? What has the crisis taught you? On a personal level one has to be ready for anything at anytime. At the end of 2019 we all felt there was a crisis coming. We didn't know what kind of crisis, because interest rates were still low and there
- [3Things: SIKO's digital growth, new Suchdol resi and wages](https://theprime.cz/news/companies/3things-sikos-digital-growth-new-suchdol-resi-and-wages/) - Sales at the Czech bathroom and kitchen supplier Siko grew 7 percent CZK 4.3 billion in 2020. The family-owned company was able to take advantage of the wave of home improvements that the year of Covid-19 sparked among Czechs, but it also spent 2020 digitizing its offering and improving its export prospects. "We felt the
- [Hard lockdown, slow-Vax and Mall Group IPO?](https://theprime.cz/news/companies/3things-hard-lockdown-slow-vax-and-mall-group-ipo/) - Mall Group could be seeking an IPO, according to Hospodářské noviny, which writes that the online retailer's billionaire owners value the company at between €1.5 billion and €2 billion. Petr Kellner holds a 40% share of the company, as does the Czecho-Slovak investment duo Daniel Křetínský a Patrik Tkáč. Jakub Havrlant holds the remainder and
- [IKEA settles for pick-up point in Plzeň](https://theprime.cz/news/companies/ikea-settles-for-pick-up-point-in-plzen/) - Back before the Internet, IKEA was planning to build a store in Pilsen. The company decided it would be a lot easier to create a pick-up point though, rather than go through spend years fighting with construction offices for permits. For people living in and around Plzeň, they'll be able to order goods from the
- [Breaking: CTP to launch IPO, list on Euronext](https://theprime.cz/news/companies/breaking-ctp-to-launch-ipo-list-on-euronext/) - CTP has announced that it intends to launch an IPO and to apply for admission to listing and trading of its shares on the Euronext market in Amsterdam. The market has long suspected the company was heading towards a public listing, but the stage was finally set following a strategic financing shift last year when
- [Řežáb: JRD's residential turnover to double while focusing on wellbeing](https://theprime.cz/news/companies/rezab-jrds-residential-turnover-to-double-while-focusing-on-wellbeing/) - Who says sustainable development can’t be good business? The residential developer JRD, whose calling card for well over a decade has been environmentally-sound and healthy apartments, produced turnover of CZK 1.61 billion in 2020. That was 35% up from 2019, a result produced through the sale of 176 flats, eight other properties and 21 land
- [Q&A Mark Robinson: Thursday's bonds market tantrum could spell trouble for valuations](https://theprime.cz/news/leases/qa-mark-robinson-thursdays-bond-markets-tantrum-could-spell-trouble-for-valuations/) - On Thursday, the United States Treasury had a rough time trying to sell 7-year bonds. The yield paid jumped about 21 bps above expectations, leading to global mayhem and fears among bond traders of imminent “Armageddon”. That may have been partly the adrenalin talking, but the fact remains that it was as a terrible day
- [Accolade building for DHL in Zielona Gora](https://theprime.cz/news/companies/accolade-building-dhl-zielona-gora/) - DHL will expand its network of warehouses in Poland with a new 20,500 sqm facility in Accolade's logistics park in Zielona Góra. Construction on the facility has just gotten underway. The move will bring the amount of space the company rents from Accolade to 80,000 sqm, according to DHL Supply Chain's MD in Poland, Monika
- [Companies could start paying for home office electricity](https://theprime.cz/news/companies/companies-could-start-paying-for-home-office-electricity/) - In order to fight the pandemic, the Czech government is pressuring companies to have their employees work from home. But it can't force companies into home office mode because of current legislation. That may be about to change, however, under a new law the government is developing that would allow it to decree home office
- [CA Immo sells two Bratislava office buildings to Wood & Co.](https://theprime.cz/news/real-estate-investment/ca-immo-sells-two-bratislava-office-buildings-to-wood-co/) - Wood & Co. has acquired the BBC 1 and BB 1 Plus office buildings in Bratislava, increasing the size of its portfolio by 25,000 sqm. The price of the deal reached with the vendor CA Immo, while it will be of critical interest for setting prices in the Slovak capital, was not revealed. Wood &
- [Marcin Klammer replaces Peter Pecnik at HB Reavis in Poland](https://theprime.cz/news/companies/marcin-klammer-replaces-peter-pecnik-at-hb-reavis-in-poland/) - HB Reavis has appointed Marcin Klammer as the next president of the board of its Polish branch in a move that takes effect in May. He replaces Peter Pecnik who will continued on with the company , having overseen the Polish office for the past two years. During that time he supervised developments in Warsaw
- [VGP pledges carbon neutrality by 2025](https://theprime.cz/news/companies/vgp-pledges-carbon-neutrality-by-2025/) - VGP has committed to achieving carbon neutrality by 2025, in a deepening of its commitments to uphold its sustainable development strategy. In order to benchmark its progress, the company carried out what it's calling a deep analysis of its carbon footprint. It also pledged to reduce its scope 1 and 2 greenhouse gas emissions by
- [Mayflower "opens" new retail park in Námestovo](https://theprime.cz/sectors/retail/mayflower-opens-new-retail-park-in-namestovo/) - Mayflower Group has opened its new 6,000 sqm retail park Slanica in the northern Slovak town of Námestovo. The project took over three years to complete, but the final 12 months were no doubt the most hair-raising. Partner Andrej Mardiak described how the developer had tenants lined up and was in discussions with Slovenska sporitelna
- [Indoor skiing outrage, construction law fears, and tram news](https://theprime.cz/projects/indoor-skiing-outrage-construction-law-fears-and-tram-news/) - The City of Prague's urban planning committee has voted to continue considering a change to the master plan that would enable an anonymous group of investors to build an indoor skiing facility on the hill above Radotin. It's unclear why a city that's committed to reducing greenhouse gases might think its residents needed a place
- [3Things: Rising renegotiations, entrepreneur support doubled & LED end](https://theprime.cz/news/leases/3things-renegotiations-rising-entrepreneur-support-doubled-led-end/) - CBRE writes that 154,000 sqm of office leases signed last year (46% of the total) were renegotiations, noting that the trend grew stronger in the second half of the year. In Q3, they made up 64% of all leases and 51% was the figure in the final three months of the year. Kateřina Havlová (CBRE)
- [3Things: TMR in trouble, Covid pummels permits & January mortgages](https://theprime.cz/news/companies/3things-tmr-in-trouble-covid-pummels-permits-january-mortgages/) - Ski areas closed early after a season of heavy losses, according to the daily E15. It writes that even the resort juggernaut Tatry mountain resorts (TMR) admitted serious difficulties in its recently economic results. It warned that without a financial injection by September if it's unable to open its mountain resorts, entertainment parks and hotels.
- [VGP profits jump to €370.9 million in 2020](https://theprime.cz/news/companies/vgp-profits-2020/) - VGP is reporting a record net profit of €370.9 million for 2020, 80% higher than in 2019. The industrial real estate developer had 33 buildings under construction at the end of the year totalling 869,000 sqm, while its land bank swelled 23.3% to 7.65 million sqm. In all, VGP completed 531,000 sqm of new space
- [Breaking: Czech government to discuss new emergency lockdown](https://theprime.cz/news/companies/breaking-czech-government-to-discuss-new-lockdown/) - With room running out in the hospitals, the Czech government is expected to meet this evening to decide on new restrictions in a last-ditch effort to slow the spread of Covid-19. The measures under consideration are said to be similar to those last spring, though factories aren't expected to be closed this time. "It's necessary
- [Manifesto seeks €15m for expansion in Series A funding round](https://theprime.cz/news/finance/manifesto-seeks-15m-for-expansion-in-series-a-funding-round/) - Manifesto has opened its Series A round of funding in which it's looking to raise around €15 million in order to fund the company's growth and set it on the road to securing up to three sites in Europe and several in the US. It would be remarkable step, even if its early childhood development
- [Robinson: CEE's "Brain Gain" speeding up thanks to pandemic](https://theprime.cz/news/robinson-cees-brain-gain-speeding-up-thanks-to-pandemic/) - Those who read The Economist closely will have noticed its 29 January article on the “Brain Gain” that awaits the countries of Central and Eastern Europe. The magazine writes that with millions of CEE citizens returning to hunker down from COVID at home, a significant percentage of them could be tempted to stay. The article
- [Stores to remain closed on Monday. Obviously.](https://theprime.cz/news/stores-to-remain-closed-on-monday-obviously/) - The Czech government has bowed in the face of the obvious and decided NOT to open stores on Monday. It's surprising only in the sense that it seems to be based on shreds of logic, something that has been sadly missing for months. The same government that ordered a lockdown last March when the number
- [Land prices rising faster than flats](https://theprime.cz/news/land-prices-rising-faster-than-flats/) - In its most recent stats report, Flat Zone notes that land prices have been rising faster than apartment and family home prices for the past decade. Citing data from the HB Index (maintained by Hypoteční banka) it writes that land prices rose to 185.2 points on its index in the fourth quarter of 2020. That
- [Theaters losing control over film premiers to streaming](https://theprime.cz/news/theaters-losing-control-over-film-premiers-to-streaming/) - Multiplex theaters and the shopping malls they take up space in are desperately waiting for life to go back to normal, but there's every indication that the movie business will never be the same. Disney has announced that it would be scrapping the old model in which theaters would automatically get to screen new releases
- [Stages Hotel Prague to open next to O2 in Q4](https://theprime.cz/news/project-news/stages-hotel-prague-o2-arena/) - Bestsport's chairman of the board Robert Schaffer has revealed that the 4-star hotel it's building next to the O2 arena in Prague will be called Stages Hotel Prague. He announced that the opening is now being scheduled for the fourth quarter of 2021, suggesting the company is optimistic about the course of the pandemic. "The
- [Lockdown #3, ČSA's reorganizing and the weakening koruna](https://theprime.cz/news/companies/3things-lockdown-3-csas-reorganizing-and-the-weakening-czk/) - A total of 26,000 Czech police have been mobilized to enforce the new lockdown that came into effect on Monday which limits the movement of people between districts. With new cases of Covid-19 reaching near-record levels, the government declared a 3-week ban on the free movement and the closing of schools and all non-essential stores.
- [Falling mortgage rates making flats more expensive](https://theprime.cz/news/finance/falling-mortgage-rates-making-flats-more-expensive/) - Market watchers have been predicting that mortgage loan interest rates would stop falling for months now. But having broken below the 2% barrier in November, the decline in rates soldiered on down, hitting 1.94% in January, according to Fincentrum's Hypoindex. The ongoing decline is confounding experts, who expected the rising cost of money and the
- [Bratislava sets out conditions for Nový Istropolis](https://theprime.cz/urban-planning/bratislava-sets-out-conditions-for-novy-istropolis/) - At the end of last year, the Slovak developer Immocap presented a study to city officials in Bratislava outlining its plans for Nový Istropolis. The study for the redevelopment of the iconic, but abandoned building in the middle of the Slovak capital was based on work done by the Dutch artchitect Jeroen Dirckx of the
- [BHS Real Estate Fund searching for Prague office and rental residential](https://theprime.cz/sectors/offices/bhs-real-estate-fund-searching-for-prague-office-and-rental-residential/) - Pavel Borovička (BH Securities) is looking to add another Prague property to the portfolio of BHS Real Estate Fund, which already owns Oregon House, The Orchard in Ostrava, and Hamburk Business Center in Plzeň. What sort of returns do you target for your fund? Times are changing, but we target on projects with yields of
- [Stakes higher for Czech automobile sector than last spring](https://theprime.cz/news/companies/stakes-higher-for-czech-automobile-sector-than-last-spring/) - The Czech government hasn't declared a hard lockdown, yet, but it's clear that stricter restrictions are on the way. Speaking after an emergency cabinet meeting on Wednesday night, the Ministry of Industry said it wasn't possible to force all manufacturers to shut down. This hasn't stopped some economists from warning that the final price for
- [3Things: The top selling flat, the average wage, and ČSA fires everyone](https://theprime.cz/news/companies/3things-the-top-selling-flat-the-average-wage-and-csa-fires-everyone/) - The data keeps coming out for how Prague's residential market performed last year at a rate that seems to depend on the given organization's ability to tabulate results and write up their findings. Atlas cen, for example, now informs us via an interesting article in Hospodářské noviny that the price of flats in the Czech
- [Velký Špalíček sold to Catholic church](https://theprime.cz/news/real-estate-investment/velky-spalicek-sold-to-catholic-church/) - The Brno diocese has acquired Velký Špalíček, a roughly 15,000 sqm shopping passage in the center of Brno for an undisclosed sum. The vendor was Generali Immobilien, which sold the asset through what a church spokeswoman described as a transparent tender at a market price. Generali was represented by Cushman & Wakefield in the deal,
- [Škoda Auto to build country's largest rooftop solar plant](https://theprime.cz/sectors/industrial-logistics/skoda-auto-to-build-countrys-largest-rooftop-solar-plant/) - In arguably the best news of the week, Škoda Auto and the ČEZ energy company announced plans to install the largest roof photovoltaic system in the Czech Republic. The rooftop electric plant is due to go online by the fall. A total of almost 6,000 solar panels will be installed with a rated output of
- [3Things: EU/CZ GDP to rise, Filadelfie's new lobby and YIT](https://theprime.cz/news/3things-eu-cz-gdp-to-rise-filadelfies-new-lobby-and-yit/) - The European Commission claims there's economic light at the end of the tunnel not just for the EU but for the Czech Republic, whose economy should grow 3.2% this year. That would put the country on course to reach pre-pandemic levels sometime in 2022, when the economy could grow by as much as 5%. It
- [Revived ZOOT makes Romanian return](https://theprime.cz/news/companies/revived-zoot-makes-romanian-return/) - Having survived insolvency and a court-protected restructuring process brought on by overambitious expansion, the Czech online fashion retailer ZOOT is moving into three countries. In the case of Romania, it's actually a return, since it first set up shop there in 2015 and spent tens of millions of crowns on marketing. By the time it
- [Bezrealitky.cz changes its mind](https://theprime.cz/news/companies/bezrealitky-cz-changes-its-mind/) - You don't have to speak much Czech to wonder why the real estate portal bezrealitky.cz is buying a real estate agency. The whole point of the project after all was to enable people to buy, sell and rent apartments without the help (and commissions charged by) real estate agencies. Frankly, it wasn't a bad idea
- [Baťa booted in Liberec, Europe's e-retailers target Czechia, Panattoni in Hradec](https://theprime.cz/news/leases/3things-bata-booted-in-liberec-europes-e-retailers-target-czechia-panattoni-in-hradec/) - Baťa is leaving its traditional store in the center of Liberec after the building's owner didn't extend the shoe retailer's rental contract. It's a big deal not just for the company, but for the city, as the Baťa building (a functionalist highrise building from the 1930's) has a certain symbolic value to residents. Baťa claims
- [Curran unveils commercial property lead generator DealDirect](https://theprime.cz/news/leases/curran-unveils-commercial-property-lead-generator-dealdirect-2/) - "When I worked in agency, I kept saying someone will do this," says Richard Curran. Over a cup of coffee at his co-working space, he explains the thinking behind the commercial real estate advertising platform DealDirect. "I'm an office agent at heart," he says. "Back in the day, the market was very different. Everyone had
- [Voslář (C&W): Opportunity mixed with pain along Prague's highstreets](https://theprime.cz/news/leases/voslar-cw-opportunity-mixed-with-pain-along-pragues-highstreets/) - There are better times ahead for retailers in downtown Prague, says Jan Voslář. Unlike in the first lockdown last spring, there are more people on Wenceslas Square and Na Příkopě. And with health workers now jabbing vaccinations into thousands of arms a day, there's finally realistic hope for better times. But Cushman & Wakefield's Head
- [Prague council objects to project on square by Intercontinental Hotel](https://theprime.cz/urban-planning/prague-council-objects-to-project-on-square-by-intercontinental-hotel/) - Prague's city council "refused" plans by a trio of business moguls to build on the square in front of the Intercontinental Hotel. At least, that's how the headlines described the vote. The thing is, Prague's 11-member city council doesn't actually decide on such matters. What it was voting on was whether Prague should file a
- [Transparency: Prague 12 publishes map of all resi projects in planning](https://theprime.cz/urban-planning/transparency-prague-12-publishes-map-of-all-resi-projects-in-planning/) - Prague 12 has enough of dealing with surprise packages from developers. The district's council announced a strategy of participatory planning whose goal was to make plans for all construction projects as transparent as possible. It's the sort of promise you hear all the time from local politicians a month or two before elections roll around.
- [Merger fever: Raiffeisenbank/Equa bank, PPF/Moneta, Total/Euro Oil](https://theprime.cz/news/finance/merger-fever-raiffeisenbank-equa-bank-ppf-moneta-total-euro-oil/) - Raiffeisenbank International has agreed to buy 100 percent of the shares in Equa bank from AnaCap Financial Partners in a deal whose size has not been published. The deal still has to be approved by market regulators, but that's expected to be completed by the middle of the year. Raiffeisen's general director Igor Vida described
- [3Things: Brno post office on sale, 2020 retail sales down, Prague borders go up?](https://theprime.cz/news/3things-brno-post-office-on-sale-2020-retail-sales-down-prague-borders-go-up/) - The Brno daily Rovnost writes that Česká pošta has decided to sell the post office building on Nádážní street and to shift its services elsewhere. The state-owned company has allegedly been considering cashing in on the building, which is only partially used and is in poor technical conditions. "There are a number of things we
- [Bratislava fights the visual smog of billboards](https://theprime.cz/projects/bratislavas-fight-with-billboards-is-brave-what-about-windmills/) - Bratislava's mayor Matúš Vallo continues to show a remarkable level of political courage, taking on genuinely difficult problems faced by a rapidly modernizing city. One of the first issues he tried to confront when taking office was parking, which was never going to be easy for a city that hadn't extended its tram line network
- [C&W names Pavol Kopernický Head of Retail in Bratislava](https://theprime.cz/sectors/retail/4548/) - Cushman & Wakefield Slovakia has brought Pavol Kopernický on board as its Head of Retail agency, where he'll be leading business development activities with clients active in the country. He's an Associate and he's part of C&W's CE Retail Heads group led by Jan Kotrbáček. He's also a member of its Retail Redevelopment team for
- [Holec: Industrial rents still rising around Prague and Brno](https://theprime.cz/news/leases/holec-industrial-rents-still-rising-around-prague-and-brno/) - The Czech industrial sector saw significant new demand for space in 2020 and the trend it expected to raise rents in 2021. Not that rents weren't already high, but gross demand grew 23% during Q4 last year compared to the previous quarter. That's according to a new report by 108 Agency, which says the strongest
- [3Things: Flat Zone on pricey flats, Crosscafe dumps Prague, PPP D4 deal done](https://theprime.cz/sectors/retail/3things-flat-zone-on-pricey-flats-crosscafe-dumps-prague-ppp-d4-deal-done/) - In its most recent report on the Czech residential market, Flat Zone provides further evidence of change in the Prague market, as the supply of flats in new projects fell in 13% from 5,700 in Q3 to 4,950 in Q4. On the other hand, the supply situation is roughly the same as it was in
- [PRAKAB building industrial space Europark Štěrboholy](https://theprime.cz/news/prakab-building-industrial-space-near-europark-sterboholy/) - The company PRAKAB is about to begin building one of those rare plots of land that located within the borders of Prague where a warehouse of up to 15,000 sqm could be built. CBRE's Building Consultancy team has been working with the owner of the land, located on Průmyslová street near the Europark Štěrboholy shopping
- [Prague MBA Real Estate program wins RICS accreditation](https://theprime.cz/news/real-estate-investment/prague-mba-real-estate-program-wins-rics-accreditation/) - The MBA Real Estate program at the University of Economics in Prague focusing on development, investment and valuation has been approved for accreditation by the RICS. It could end up being a watershed moment for the association, allowing it to exert greater influence over the way real estate valuations are carried out in the Czech
- [3Things: Masaryk tunnel, Czech M&A falls 51%, old flat prices jump 13%](https://theprime.cz/urban-planning/3things-masaryk-tunnel-czech-ma-falls-51-old-flat-prices-jump-13/) - Construction won't begin on the next three sections of the express rail connection between central Prague and the airport until 2022. The first bit, repairing the Niagrelli viaduct across the Vltava river, proved complicated enough as it was worse shape than builders realized and fell behind schedule. Idnes.cz writes that the reconstruction of the Masaryk
- [Construction underway in Prague 7 on Skanska’s Port7](https://theprime.cz/news/companies/construction-underway-in-prague-7-on-skanskas-port7/) - Skanska is beginning construction of Port7, the latest development to begin along the Vltava river that snakes through the heart of Prague. The majority of Prague residents will never work in the new office buildings that are to be constructed there, but the development will create an attractive new promenade that makes the river more
- [Doron Klein (AFI Europe): The time is for rental resi is now](https://theprime.cz/news/companies/doron-klein-afi-europe-czech-polish-markets-best-suited-for-rental-resi/) - There's no shortage of reasons behind the push in the past couple of years to build and manage rental real estate. Some companies are looking to secure a steady income stream, some feel the need to respond to the powerful Millennial generation's distaste for tying themselves down (financially, or otherwise) to something as immovable as
- [CPI issues €1 billion in senior unsecured and hybrid bonds](https://theprime.cz/news/finance/cpi-issues-e1-billion-in-senior-unsecured-and-hybrid-bonds/) - CPI Property Group has issued €600 million in 10-year senior unsecured bonds with a coupon of 1.5% along with €400 million of new undated subordinated notes callable in 2028. The company is reporting nearly €3 billion in total investor demand for the offerings. The undated subordinated bonds carry a 3.75% coupon and for IFRS accounting
- [Czechs handing out billions in solar subsidies](https://theprime.cz/news/eu-handing-out-billions-in-solar-subsidies/) - Companies in the Czech Republic who have been thinking about installing solar panels on land or rooftop space they control have until the end of the month to apply for some serious EU support for such projects. The head of the Czech Solar Association Jan Krčmař insists it's little more than a 3-page pre-qualification document
- [Omar Sattar and Peter Bečár to lead Crowdberry's new property fund](https://theprime.cz/news/omar-sattar-and-peter-becar-to-lead-crowdberrys-new-property-fund/) - Crowdberry has launched its fund for qualified investors, CB Property Investors. It's a move that was on the cards as soon as the investment platform brought Omar Sattar on board to lead its real estate division. The fund hopes to invest on the order of €30 million over the next the years in order to
- [3Things: YIT's Ranta Barrandov done, Arca Investments done for, and Ball's new can factory](https://theprime.cz/news/3things-yits-ranta-barrandov-done-arca-done-for-and-balls-new-can-factory/) - YIT completed the first phase of its project Ranta Barrandov having sold all but one of the 141 of the units. Work is already underway on the second phase of the project, which the Finnish-based developer claims features flats with extremely low energy requirements. In all, four apartment buildings offering units of up to 5+kk
- [Vlková: Ditch the old, boring office! Create experiences](https://theprime.cz/sectors/offices/vlkova-ditch-the-old-boring-office-create-experiences/) - The office isn't dead. Predicting the end of an era is always tempting. Airbnb didn't kill off hotels, nor will it, just as e-commerce does not spell the end of brick & mortar retail as an asset class. Announcing the end of the office was a great way to sell magazines back when lockdowns felt
- [3Things: TMR's mountain layoffs, ZOOT cancels Joy Dispensaries, and PPF targets Moneta](https://theprime.cz/news/3things-tmrs-mountain-layoffs-zoot-cancels-joy-dispensaries-and-ppf-targets-moneta/) - Tatry mountain resorts (TMR) has been forced to announce mass layoffs despite a slimming down of operations already in the spring of 2020. The latest round of firings will affect 180 people who work in the company's mountain resorts, its water park and in management. Another 80 employees fixed-term employment contracts will not be renewed
- [Šlemr defends Intercontinental's redevelopment](https://theprime.cz/sectors/retail/slemr-goes-on-offensive-to-support-intercontinentals-redevelopment/) - Oldřich Šlemr agreed to an interview with Hospodářské noviny, which in itself is notable as the Czech billionaire speaks publicly only rarely. As he admits to the journalist, one of the primary reasons he's made an exception this time is in order to support his attempts to win approval for a CZK 2.5 billion redevelopment
- [Mortgage volumes break records as dreams of home ownership fade](https://theprime.cz/news/finance/mortgage-volumes-break-records-as-dreams-of-home-ownership-fade/) - The Fincentrum Hypoindex shows that banks handed out more than CZK 29.5 billion in mortgage loans whose average size was nearly CZK 3 million. "Hoping for a cooling in prices in the coming months is pointless. The dream of owning your own home is getting further away for many people," writes Aktualne.cz. The pain of
- [Tallest Czech skyscraper planned for Ostrava](https://theprime.cz/urban-planning/tallest-czech-skyscraper-planned-for-ostrava/) - A Czech automobile services company named RT Torax is planning to build the highest building in the country next to the Nova Karolina shopping center in Ostrava. The investor bought the 8,300 sqm parcel for the project from the city last summer for CZK 63 million, and is currently carrying out out a geological survey
- [Prague developers hit the slopes in Pec pod Sněžkou](https://theprime.cz/sectors/residential/prague-developers-hit-the-slopes-in-pec-pod-snezkou/) - The former Czech football international Vladimír Šmicer is expanding the range of his real estate ventures by backing a new set of apartments in Pec pod Sněžkou in the Krkonoše mountains. He's doing this through Avia Velká Pláň, a company in which he's a co-owner and which recently acquired the Avia pension located on the
- [BATIST Medical leases 1,000 sqm in CA Immo's Missouri Park](https://theprime.cz/news/leases/batist-medical-leases-1000-sqm-in-ca-immos-missouri-park/) - CA Immo concluded a least with BATIST Medical for a 1,000 sqm space in its office building Missouri Park, which is under construction in Karlín – Prague 8. The Austrian property company claims it achieved a "record top rent" for the space thanks to a combination of high-quality fittings and its unique location. Work on
- [Robinson: Seriously. It's time to take the inflation threat seriously](https://theprime.cz/news/mark-robinson-seriously-its-time-to-take-the-inflation-threat-seriously/) - Ever since governments around the world began flooding their economies with newly-printed cash in order to deal with the 2008 Great Financial Crisis, economists and investors have warned it would lead to prices rising significantly, or even hyperinflation. But the long-term trend rate of economic growth slowed in the last decade, despite falling interest rates
- [3Things: Alza in Chrášťany, Jiricna in Ostrava, and -5.6% in GDP](https://theprime.cz/news/3things-alza-in-chrastany-jiricna-in-ostrava-and-5-6-in-gdp/) - GLP is building a new warehouse for Alza.cz in Chrášťany on the western edge of Prague. The daily E15 spokes with Alza.cz's expansion director Jan Moudřík, who said the 40,000 sqm center fills at least one geographical hole for the company, which already covers Prague's northwest areas with logistics centers in Horní Počernice, Zdiby and
- [Savills appoints Goldscheidová Assoc. Director in investments](https://theprime.cz/news/savills-appoints-goldscheidova-assoc-director-in-investments/) - Effective from February, Jana Etrych Goldscheidová has been named Associate Director within the investment department at Savills Prague. A professional with 13 years of experience in CEE transactions, asset management and valuation, she's worked on a variety of client-side acquisitions and disposals of both commercial and residential assets. Previous posts include work at LaSalle Investment
- [Alexander Rafajlovič joins CA Immo team](https://theprime.cz/news/alexander-rafajlovic-joins-ca-immo-team/) - CA Immo has gone public with the news of its appointment of Alexander Rafajlovič as the new Head of Market Research & Data Analytics. Based in Prague, Rafajlovič will be in charge of coordinating and structuring the company's macro and market related data across the region. He'll also be on the lookout for tracking all
- [Electro World swallows up K+B Elektro's 21 stores](https://theprime.cz/news/companies/electro-world-swallows-up-kb-elektros-21-stores/) - NAY, the company that operates the Electro World network of stores, has bought the 21-store network of K + B Elektro from Kappenberger + Braun GmbH & Co. K + B Elektro produced turnover of CZK 800 million in 2020. The transaction will double the clout of Electro World, which currently has 19 stores in
- [CPI sells majority share in FM division to M2C](https://theprime.cz/news/companies/cpi-sells-majority-share-in-fm-division-to-m2c/) - Last November, CPI Property Group merged its asset and property management divisions in a major restructuring of the way it leases and manages its wide range of properties. What wasn't yet clear was that the company was also in the process of selling off most of its facility management division, including its team, to Mark2
- [3Things: Škoda's new center, Central Group stats, and Quo vadis Prague?](https://theprime.cz/news/companies/3things-skodas-new-test-car-center-central-group-and-reasons-not-to-live-in-pragues-old-town/) - Škoda Auto has opened a new center for the production of test vehicles and prototypes at its Mladá Boleslav site. It will allow the company to prepare the special vehicles completely under one roof, using state-of-the-art technologies, such as robot stations and virtual reality solutions. Essentially, the more test cars Škoda can turn out, the
- [Fond Českeho Bydleni continues its non-Prague resi strategy](https://theprime.cz/news/real-estate-investment/fond-ceskeho-bydleni-continues-its-non-prague-resi-strategy/) - Fond Českého Bydleni's most recently completed acquisitions are of a pair of fully-occupied rental apartment buildings in Ostrava and Mělnik, continuing its strategy of buying income producing assets in the regions. The fund expects the building in Ostrava to produce a 7% annual return, while the other should produce around 6% per annum. Unlike a
- [Progress on planning for Žižkov cargo station and Prague's bypass](https://theprime.cz/urban-planning/progress-on-planning-for-zizkov-cargo-station-and-bypass/) - No work on the Prague ring road has begun in years because of a range of planning inefficiencies and politics that are all baked into the system of urban planning. So while state has committed to speeding up the process of buying land needed to extend the D0 ring road from D1 to the D11
- [Flat Zone to begin tracking rental market data](https://theprime.cz/news/leases/flat-zone-to-begin-tracking-rental-market-data/) - Flat Zone, an online portal that tracks prices on new residential projects, is about to launch a new product for the developers of rental apartment buildings. As residential prices have spiraled out of affordability for the middle class, interest in rental apartment buildings has increased from developers and investors. Flat Zone is reacting to this
- [Having bought Central Kladno, Portiva looking for more](https://theprime.cz/news/real-estate-investment/having-bought-central-kladno-portiva-looking-for-more/) - The Brno-based investment group Portiva is looking to buy three shopping centers during 2021, though its executive director Pavel Svoreň isn't saying much else in the way of details. "The investments in one will be roughly between CZK 1 billion and CZK 1.5 billion," he told Hospodářské noviny, adding only that it would be comparable
- [Just tear it down already](https://theprime.cz/news/just-tear-it-down-already/) - Prague's city council has rejected earlier plans to reconstruct the former Hotel Opatov to create small apartments at a cost of CZK 688 million. The city held a tender for the project, but the price that came in was 25% higher than expected. In fact, everything about the news concerning this building seems to illustrate
- [Marek Lokaj replaces Vladimir Dvořák atop YIT Stavo](https://theprime.cz/news/marek-lokaj-replaces-vladimir-dvorak-atop-yit-stavo/) - Marek Lokaj took over as YIT Stavo's new general director for the Czech Republic beginning January 1, a promotion from his role as Technical Director. He replaces Vladimir Dvořák who had held the position since 2008, when YIT Stavo began building apartments in the country. In fact, Dvořák had led Euro STAVOKONSULT for 20 years
- [Brexit fallout hits Marks & Spencer and Iceland's Czech outlets](https://theprime.cz/news/brexit-fallout-hits-marks-spencer-iceland-czech-outlets/) - Panic is spreading among among expats and Czech consumers alike as supply chains collapse for what's arguably the UK's most popular export: groceries. Not even the Covid-19 pandemic, which has killed off dozens of global retail chains and doomed the current occupant of the White House managed that trick. Marks & Spencer was the first
- [Lidl beats industrial developers to 130 ha plot on D5](https://theprime.cz/news/real-estate-investment/lidl-beats-industrial-developers-to-130-ha-plot-on-d5/) - CBRE has revealed some of the details of a monster land deal that took place in December, just in time to help out the 2020 numbers. The agency worked with the Icelandic vendor Kaupthing to offload the 1.3 million sqm plot at Exit 93 along the D5 at Nyřany. Market sources confirm that the usual
- [Opočenský and Valouch win architectural competition for Prague East railway station](https://theprime.cz/urban-planning/praha-vychod/) - The architects Jiří Opočenský and Štěpán Valouch have won an international architectural and urban planning competition for the design of the new Prague East rail terminal that will be built along the new high-speed rail corridor. A total of 21 bids were received from Czech and international studios, which was held by Správy železnic the
- [New Work shifting to management deals for flex space](https://theprime.cz/news/companies/new-work-shifting-to-management-deals-for-flex-space/) - As it plans how to approach the rapidly changing landscape of flexible office space, New Work will be emphasizing management deals with landlords rather than long-term leases. Asked directly if he expected to be signing any leases in the coming months, Chief Development Officer Michael Smithing said that wasn't terribly likely. "It would have to
- [3things: Škoda Auto, Penta Investment & Sudop Praha](https://theprime.cz/news/companies/3things-skoda-auto-penta-investment-sudop-praha/) - For those who assumed that snags in the global supply chain would be ironed by the time a Covid-19 vaccine doses were being injected into the arms of nurses, think again. Škoda Auto revealed that it might be forced to limit production because of a lack of the semiconductor chips that control its drive systems,
- [Arete buys buys first asset for new industrial fund in Kežmarok](https://theprime.cz/news/real-estate-investment/arete-buys-buys-first-asset-for-new-industrial-fund-in-kezmarok/) - Following on the heels of selling an 11-asset fund to Cromwell European REIT for €113m, Arete Group has bought the first property for its new fund ARETE INDUSTRIAL. Completed in December, the €10m deal was for a production and storage facility in Kežmarok, Slovakia for the German company Hengstler. The facility also serves as a
- [3things: Komerční banka layoffs, an investor for Rohlik.cz and Vafo](https://theprime.cz/news/companies/3things-komercni-banka-lay-offs-an-investor-for-rohlik-cz-and-vafo/) - Komerční banka has informed labor officials that it's undertaking a CZK 76 million restructuring that will reduce the number of people it employs by 3.5%. In practical terms, that should work out to around 250 of KB's 7,200 employees getting fired, but the banks says the final number could differ because it's thinking in terms
- [Metrostav's future at stake as corruption purge deepens](https://theprime.cz/news/companies/metrostavs-future-at-stake-as-corruption-purge-deepens/) - The Czech construction giant Metrostav has been brought to its knees by a corruption scandal that dates back to 2012. That's when the governor of the Central Bohemia region David Rath was caught by police getting into his car with CZK 7m in cash. Quite entertainingly, he claimed he had thought the boxes were filled
- [Mint jumps at chance to build for less in Prague, Bratislava](https://theprime.cz/projects/mint-jumps-at-chance-to-build-for-less-in-prague-bratislava/) - Mint Investments is moving ahead on two residential projects in Prague and Bratislava that it began preparing long before the current pandemic changed the entire dynamic of the economy. Originally, the real estate company had planned to sell the projects on to developers once planning permits had been secured for them. Instead, Mint has taken
- [Bluehouse's Novo Plaza reconstruction reaches finale](https://theprime.cz/sectors/retail/bluehouse-novo-plaza-reconstruction1/) - Older and wiser. That's how a lot of business leaders feel nearly a year into the pandemic, but especially retailers and their landlords. "It's provided more clarity on a number of future unknowns," says Iain Fanthorpe, director of the real estate investor Bluehouse, owner of shopping centers in Karvina and Novo Plaza in Prague 4. "You
- [Can't things be beautiful?](https://theprime.cz/brainfood/cant-things-be-beautiful/) - "We’ve been taught how to say we want a richer world, a fairer world, even a greener world. We are still stumbling in how to clamour that we also, desperately, want a more beautiful world." That's a quote from an admittedly longish, but thought-provoking piece from The School of Life called Why is the Modern
- [Arete buying for 3rd fund after €113m exit to Cromwell](https://theprime.cz/investing/arete-already-buying-for-3rd-fund-after-e113-million-exit-from-arete-invest-ceeii/) - At the beginning of December, Arete Group was managing a portfolio of 11 industrial properties for its fund ARETE INVEST CEEII. But by the 10th, the company was announcing that it found a single buyer for the assets – a Singapore stock exchange listed entity in deal JLL assisted it with. Arete co-founder Robert Ides
- [CPI Group adds to its London portfolio](https://theprime.cz/news/real-estate-investment/cpi-group-adds-to-its-london-portfolio/) - CPI Property Group has acquired two more properties in London, adding to its existing portfolio of assets in the British financial center. According to company's end of year message, the first is St. Mark's Court, a building in the St. John's Wood district with 24 apartments plus an adjacent lot suitable for further construction. CPI
- [Prague-based Sharry wins proptech order in Manhattan](https://theprime.cz/smart-development/proptech/sharry-nyc/) - In October, the Prague-based prop tech company Sharry won what could prove to be its break-out order in New York City when it was chosen by SL Green Realty Corp. to deploy a digital platform in 23 high-rise buildings located across Manhattan. Sharry rolled out its solution for the SL Green Realty's new flagship building,
- [Prague 1 fights ban on cars along Smetana embankment](https://theprime.cz/urban-planning/prague-1-fights-ban-on-cars-along-smetana-embankment/) - The City of Prague has extended the closure of a portion of the Smetana embankment to automobile traffic, leaving in place a traffic-control measure that's been in place since May. The idea for the closure was implemented during the first spring lockdown, essentially as an experiment to see how reducing traffic along the river would
- [Local RICS members are done hiding their frustration with HQ](https://theprime.cz/news/rics-members-are-done-hiding-their-frustration-with-hq/) - Traditionally, the Royal Institute of Chartered Surveyors (RICS) has made headlines in the British papers on policy issues, offering expertise and promoting better public policy. But the organization has been in the headlines in recent days for all the wrong reasons, as long-festering questions over what members really get in return for membership has escalated
- [CPI signs up Wolt, Kantar and Albatros for office leases](https://theprime.cz/news/leases/cpi-signs-up-wolt-kantar-and-albatros-for-office-leases/) - CPI Property Group is on a roll. Earlier this week it announced that it had signed up the country's largest publishing house Albatros Media to a 2,200 sqm lease in its Mayhouse office building on the Magistral road (a.k.a. 5. Května). Not that the company had far to move, since its previous offices were at
- [Boring. Local. Expensive…Prague's impressive investment market just won't stop](https://theprime.cz/news/boring-local-expensivepragues-impressive-investment-market/) - Michal Soták is oddly calm when speaking about the collapse of the Czech real estate market. Transaction volumes may have dropped 63 percent compared to 2019, but he waves this aside, saying there's no real drama to speak of. GDP is likely to plummet by a historic 7% this year, but to hear Cushman &
- [Sensationalist headlines cloud the debate on lockdowns](https://theprime.cz/news/sensationalist-headlines-cloud-the-debate-on-lockdowns/) - The headline on Nova television's news Monday said it all. "The crowds in the shops are the government's fault, claims the government. Czechs are shopping like crazy" Those readers who watched the rest of the report expecting a horror show, however, found out only that sales in "some shops" were double what they were last
- [Futureal's HelloParks venture launches first two Budapest parks](https://theprime.cz/news/real-estate-investment/futureals-helloparks-venture-launches-first-two-budapest-parks/) - The new Hungarian industrial property developer HelloParks is aiming to shake up Budapest's sleepy market by quickly launching a series of large new projects on each side of the capital. Development preparations are already underway on two of them. Its first acquisition was of a 76 ha greenfield plot in northern Budapest in Fot, by
- [CBRE Global Investors completes Faurecia plant in Pilsen Park West](https://theprime.cz/news/leases/cbre-global-investors-completes-faurecia-plant-in-pilsen-park-west/) - CBRE Global Investors completed a new automobile parts production hall for Faurecia in Pilsen Park West, near the village of Nýřan. The 13,000 sqm facility was built alongside an existing Faurecia facility and will be used for the production of Volkswagen car seats and seat components. The owner was represented by the Building Consultancy department

## Pages

- [Data Summit Spring](https://theprime.cz/data-summit/) - [et_pb_section fb_built=”1″ admin_label=”Section” _builder_version=”4.27.5″ _module_preset=”default” background_color=”#000000″ custom_padding=”0px|0px|0px|0px|false|false” custom_css_main_element=”overflow: visible; height: auto;” collapsed=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” custom_css_main_element=”overflow: visible; height: auto;” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_code _builder_version=”4.27.5″ _module_preset=”default” custom_padding=”0px|0px|0px|0px|false|false” hover_enabled=”0″ custom_css_main_element=”overflow: visible; height: auto;” global_colors_info=”{}” sticky_enabled=”0″] ThePrime Data Summit I. April 13, 2026 — Prague Are Czech Real Estate Funds Overpaying? A focused, two-hour deep-dive into
- [Available Banner Weeks](https://theprime.cz/available-banner-weeks/)
- [Fund- Copy](https://theprime.cz/foster/) - . Foster Care makes a difference ThePrimeFoster Fund The fund is equipped to accept donations in any amount. Each year, a major fund raising drive will be held at ThePrime Gala, but we would welcome more regular contributions and seek to establish long-term relationships with generous
- [Fund](https://theprime.cz/fund/) - . Foster Care makes a difference ThePrimeFoster Fund The fund is equipped to accept donations in any amount. Each year, a major fund raising drive will be held at ThePrime Gala, but we would welcome more regular contributions and seek to establish long-term relationships with generous
- [Pre-opening party for Noel](https://theprime.cz/pre-opening-party-for-noel/)
- [Registration page](https://theprime.cz/registration-page/)
- [Attending companies list for ThePrime Gala](https://theprime.cz/attending-companies-list-for-theprime-gala/) - Corporate Tables 108 Agency AFI Europe Arete ASB Avison Young CBRE Českomoravská nemovitostni CEZ ESCO Charnwood/Karl Wilson Colliers (2 tables) Colliers CTP Cushman & Wakefield Deutsche Pfandbrief Dual Asset GLP Helaba iO Partners (2 tables) Knight Frank Mint Partners Panattoni Passerinvest Penta Real Estate Savills Sentient The Julius Prague TPA Urbanity West Bohemia Development Co.
- [ThePrime Real Estate Gala Registration](https://theprime.cz/theprime-real-estate-gala-registration/) - Loading…
- [Register for ThePrime Real Estate Gala 2024](https://theprime.cz/register-for-theprime-real-estate-gala-2024/) - As of Jan. 17, tThere are just a few seats left. Orders will be served on a first-come first-serve basis.
- [ThePrime Real Estate Gala: Categories & Nomination form](https://theprime.cz/theprime-real-estate-gala-categories-nomination-form/) - Nominations for the Awards are closed Categories & Criteria Best Office Development -Quality of project & architecture -ESG -Value added to its urban context -Innovative use of technology/design/materials Best Industrial Developer -Sustainability strategies implemented -Community impact -Quality of projects completed -Commercial success -Innovative use of technology/design/materials Best Residential Project -Quality of architecture & public space
- [ThePrime Charity Raffle 2024](https://theprime.cz/theprime-charity-raffle-2024/) - 100% of the funds raised through raffle tickets sold in connection with ThePrime Real Estate Gala will be donated to Rozum a Cit, a non-profit organization which provides comprehensive support to 250 foster families in the Czech Republic with more than 300 children in their care. Your donation will be sent to a verified account
- [Skanska used INNOVIS to improve security and efficiency](https://theprime.cz/skanska-innovis-security-efficiency/) - Skanska, a global development and construction group with Swedish roots and more than 43,000 employees worldwide, is proof of how modern technology can be an effective tool in solving complicated safety challenges. The Czech Republic is one of Skanska's important markets, where the company has been active since the 1950s. Traditionally, Skanska relied on security
- [Workshop: Can housing be affordable?](https://theprime.cz/workshop-can-housing-be-affordable/)
- [Sept 26 Dual Asset Mixer](https://theprime.cz/sept-26-dual-asset-mixer/)
- [ThePrime Note registration](https://theprime.cz/theprime-note-registration/)
- [Registration for May 31 Mixer @ The Julius Prague](https://theprime.cz/registration-for-may-31-mixer-the-julius-prague/)
- [ThePrime RE Gala Ticket delivery and Guest lists](https://theprime.cz/theprime-re-gala-ticket-delivery-and-guest-lists/)
- [Sign-up for Jan. 25 Mixer - Sponsored by Wolf Theiss](https://theprime.cz/sign-up-for-jan-25-mixer-sponsored-by-wolf-theiss/)
- [ThePrime Mixer Registration (January 25, 2023)](https://theprime.cz/mixer-registration-january-2023/) - ThePrime Mixer on January 25 is sponsored by Wolf Theiss 5pm: BTR Workshop Moderator: Tomas Kren (Wolf Theiss) Speakers: Stan Kubacek (Heimstaden), Grzegorz Skowronski (Wolf Theiss) 6pm: Business Mixer To attend, please send me an email at robert at theprime.cz
- [Upcoming events](https://theprime.cz/upcoming/) - If you're a subscriber and you'd like your event displayed here, please get in touch
- [IBF BBQ Registration Form](https://theprime.cz/ibf-bbq-registration-form/) - Thanks for your interest in the IBF BBQ on June 23! To ensure your ticket for the event, you must fill out all of the fields below.
- [June 15 Confirmation!](https://theprime.cz/june-15-confirmation/) - Congratulations! You're confirmed for the June 15 Subscribers Mixer at The Fitzgerald!! The mixer starts at 18:00 at Vitkova 26 in Prague 8 - Karlin. The bar is free bar until 20:00. After that you can stay on, or go to the comedy act in the newly renovated auditorium. See you soon!
- [June 15 Subscribers Mixer confirmation](https://theprime.cz/june-15-subscribers-mixer-confirmation/) - If you haven’t subscribed yet but want to attend the mixer, no problem. Just check the subscription application box below agreeing to subscribe and you’re in!
- [Register for the June 8 SmartCity Workshop](https://theprime.cz/register-for-the-june-8-smartcity-workshop/) - If you'd like the 40% subscriber discount, but you don't subscribe yet, you can take care of that all at once by ticking the appropriate box. Further information on the event's webpage.
- [June 8 Workshop Registration](https://theprime.cz/june-8-workshop-registration/)
- [Registration - Credit Card Payment](https://theprime.cz/registration-credit-card-payment/) - If you'd like to register and pay by credit card, please follow this link, or point your phone at the QR code below. VAT will be added. If you prefer to pay via bank transfer, you can sign up here Following requests for a corporate subscription rate, I’m now offering an unlimited number of accesses for
- [Cancelling subscriptions & Card Payments](https://theprime.cz/cancelling-subscriptions-card-payments/)
- [Voices](https://theprime.cz/voices/) - [et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row column_structure=”1_2,1_2″ _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_blog posts_number=”2″ include_categories=”93″ show_pagination=”off” _builder_version=”4.9.2″ _module_preset=”default” width=”100%” max_width=”100%” height=”1000px”][/et_pb_blog][/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_blog posts_number=”2″ include_categories=”93″ show_date=”off” show_categories=”off” show_pagination=”off” offset_number=”2″ _builder_version=”4.9.2″ _module_preset=”default”][/et_pb_blog][/et_pb_column][/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_blog posts_number=”2″ include_categories=”93″ show_date=”off” show_categories=”off” show_pagination=”off” offset_number=”4″ _builder_version=”4.9.2″ _module_preset=”default” width=”100%” max_width=”100%” height=”1000px”][/et_pb_blog][/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”|||”
- [Register](https://theprime.cz/register/) - If you prefer to pay via bank transfer, you can sign up here Following requests for a corporate subscription rate, I'm now offering an unlimited number of accesses for €490 (+VAT) per year. (Up to six people per corporate membership can attend exclusive ThePrime events for free or at a discounted rate.) If interested, email
- [No Ties Mixer Sign-up](https://theprime.cz/no-ties-mixer-sign-up/)
- [User Log-in Page](https://theprime.cz/userloginpage/) - [et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.9.7″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ sticky_enabled=”0″] Username or Email Password Remember me Lost your password? If you don’t have a membership, you can register here.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
- [Login page](https://theprime.cz/login-page/) - [et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.9.7″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ sticky_enabled=”0″] Username or Email Password Remember me Lost your password? [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
- [Contact](https://theprime.cz/contact/) - [et_pb_section fb_built=”1″ admin_label=”Page Title Section” _builder_version=”4.9.7″ background_color_gradient_direction=”115deg” background_image=”https://theprime.cz/wp-content/uploads/2020/08/KomercniB-1.png” custom_padding=”150px||0px|”][et_pb_row _builder_version=”4.9.7″ background_color=”#383e59″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” max_width=”960px” custom_margin=”|||0px” custom_padding=”27px|10%||10%||true” animation_style=”slide” animation_direction=”left” animation_intensity_slide=”2%” border_radii=”||6px|6px|” border_width_right=”30px” border_color_right=”#bdada0″ use_custom_width=”on” custom_width_px=”960px” locked=”off”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding_tablet=”|||10%” custom_padding_last_edited=”off|desktop” padding_tablet=”|||10%” padding_last_edited=”off|desktop” custom_padding__hover=”|||”][et_pb_text admin_label=”Title” _builder_version=”3.27.4″ text_font=”||||||||” header_font=”Abhaya Libre|700|||||||” header_font_size=”70px” header_line_height=”1.2em” header_4_font=”||||||||” background_layout=”dark” custom_margin=”|||” custom_padding=”|||” header_font_size_tablet=”40px” header_font_size_phone=”” header_font_size_last_edited=”on|tablet”]Get In Touch[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Get In Touch Section”
- [For Advertisers](https://theprime.cz/for-advertisers/) - [et_pb_section fb_built=”1″ specialty=”on” _builder_version=”4.9.7″ use_background_color_gradient=”on” background_color_gradient_start=”rgba(0,0,0,0)” background_color_gradient_end=”#4a00d8″ background_color_gradient_direction=”90deg” background_color_gradient_start_position=”64%” background_color_gradient_end_position=”0%” height=”650px” custom_padding=”15vw||15vw||true|false” background_last_edited=”on|tablet” background_color_gradient_direction_tablet=”-180deg”][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.0.8″ header_2_font=”Roboto Condensed|700||on|||||” header_2_font_size=”12px” header_2_letter_spacing=”3px” custom_margin=”-172px||10px||false|false” locked=”off”]— Get In Touch[/et_pb_text][et_pb_text _builder_version=”4.0.8″ header_font=”Roboto Condensed|700||on|||||” header_font_size=”80px” header_line_height=”1.1em” header_font_size_tablet=”60px” header_font_size_phone=”40px” header_font_size_last_edited=”on|phone” locked=”off”]Reach your target audience[/et_pb_text][et_pb_text _builder_version=”4.9.7″ text_font=”Lora||||||||” text_text_color=”#676879″ text_font_size=”16px” text_line_height=”2em” text_font_size_tablet=”15px” text_font_size_phone=”14px” text_font_size_last_edited=”on|phone” locked=”off”]Are you interested in advertising on our
- [The Dealsheet](https://theprime.cz/theprime-dealsheet/) - 31.3.2021 -Obermayer Helika is in charge of the design and oversight of the construction of a P+R garage in Černý Most in Prague. Project costs for the facility, which will offer parking for 880 vehicles, is expected to come to CZK 500 million. Construction began in July 2020 and should be completed before the end
- [Construction underway in Prague 7 on Skanska’s Port7](https://theprime.cz/construction-underway-in-prague-7-on-skanskas-port7/) - Skanska is beginning construction of Port7, the latest development to begin along the Vltava river that snakes through the heart of Prague. The majority of Prague residents will never work in the new office buildings that are to be constructed there, but the development will create an attractive new promenade that makes the river more
- [Subscription Order Form](https://theprime.cz/subscription-order-form/)
- [Subscription Order Form](https://theprime.cz/new-page/) - [et_pb_section fb_built=”1″ _builder_version=”4.5.2″ _module_preset=”default” use_background_color_gradient=”on” background_color_gradient_start=”rgba(41,196,169,0.76)” background_color_gradient_end=”rgba(41,196,169,0.76)” background_color_gradient_direction=”90deg” background_color_gradient_start_position=”50%” background_color_gradient_end_position=”50%” custom_margin=”200px||200px||true|false” custom_padding=”0px||0px||true|false”][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ use_custom_gutter=”on” gutter_width=”1″ _builder_version=”4.5.2″ _module_preset=”default” custom_margin=”0px||0px||true|false” custom_padding=”0px||0px||true|false”][et_pb_column type=”1_4″ _builder_version=”4.5.2″ _module_preset=”default”][wpforms_selector form_id=”4457″ _builder_version=”4.8.1″ _module_preset=”default”][/wpforms_selector][/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.5.2″ _module_preset=”default”][/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.5.2″ _module_preset=”default”][/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.5.2″ _module_preset=”default”][/et_pb_column][/et_pb_row][/et_pb_section]
- [ThePrime Subscription Offers - Card payment](https://theprime.cz/theprime-subscription-offerings/)
- [Welcome](https://theprime.cz/register/welcome/) - Congratulations! You’ve joined a growing community of investors, developers and real estate professionals. As a member of thePrime, you’ll get continual updates on the business of property development and growth of cities. But you’re also invited to join the conversation, whether it’s through taking part in a survey, acting as a source for an article,
- [User Registration](https://theprime.cz/user-registrations-form2/)
- [New Login Page](https://theprime.cz/new-login-page/)
- [Your Membership](https://theprime.cz/register/your-membership/) - Review your membership below to make sure we've got it all correctly noted. Then get back to reading!
- [Update Billing Card](https://theprime.cz/register/update-billing-card/)
- [Edit Your Profile](https://theprime.cz/register/edit-your-profile/)
- [Features](https://theprime.cz/features/) - [et_pb_section fb_built=”1″ _builder_version=”4.5.6″ _module_preset=”default”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.5.6″ _module_preset=”default” hover_enabled=”0″][et_pb_column type=”1_2″ _builder_version=”4.5.6″ _module_preset=”default”][et_pb_blog posts_number=”1″ _builder_version=”4.5.6″ _module_preset=”default” hover_enabled=”0″ border_radii_image=”on|5px|5px|5px|5px” border_width_right_image=”4px” border_color_right_image=”#E09900″ border_style_right_image=”groove” box_shadow_style_image=”preset1″ box_shadow_horizontal_image=”7px” box_shadow_vertical_image=”0px” box_shadow_blur_image=”19px” box_shadow_spread_image=”1px” child_filter_saturate=”99%” child_mix_blend_mode=”darken” text_orientation=”left”][/et_pb_blog][/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.5.6″ _module_preset=”default”][/et_pb_column][/et_pb_row][/et_pb_section]

## HP Banner

- [AvisonYoung_1](https://theprime.cz/hp_banner_cpt/the-prime/)
- [PrimeBanner](https://theprime.cz/hp_banner_cpt/prime-banner/)

## Posts

- [Global CSS](https://theprime.cz/seedprod/global-css/)

## Projects

- [HOPI's German expansion begins from Panattoni Park Chomutov North](https://theprime.cz/project/hopis-german-expansion-begins-from-panattoni-park-chomutov-north/) - Panattoni has begun construction of a 31,000 sqm facility for the Czech logistics company HOPI CZ, whose client is Freudenberg Homes and Cleaning Solutions (FHCS). It chose Panattoni Park Chomutov North in large part because of its proximity to the German market. Panattoni is developing the site for the investor RSJ. For HOPI, the new

## Galleries

- [Savarin](https://theprime.cz/bwg_gallery/savarin/)
- [Charity 2025 Gala](https://theprime.cz/bwg_gallery/charity-2025-gala/)
- [Cresco Jan25](https://theprime.cz/bwg_gallery/cresco-jan25/)
- [Ondrej Chybik (CHYBIK + KRISTOF)](https://theprime.cz/bwg_gallery/ondrej-chybik-chybik-kristof/)
- [Ondrej Chybik](https://theprime.cz/bwg_gallery/ondrej-chybik/)
- [Vltavska filharmonie](https://theprime.cz/bwg_gallery/vltavska-filharmonie/)
- [IBF RE BBQ 2024](https://theprime.cz/bwg_gallery/ibf-re-bbq-2024/)
- [NoveChabry](https://theprime.cz/bwg_gallery/novechabry/)
- [Maj Opening](https://theprime.cz/bwg_gallery/maj-opening/)
- [Southbank](https://theprime.cz/bwg_gallery/southbank/)
- [Skoda Kampus](https://theprime.cz/bwg_gallery/skoda-kampus/)
- [Hila](https://theprime.cz/bwg_gallery/hila/)
- [RoztylyPlazaOpen](https://theprime.cz/bwg_gallery/roztylyplazaopen/)
- [NYX Brno](https://theprime.cz/bwg_gallery/nyx-brno/)
- [Innovis](https://theprime.cz/bwg_gallery/innovis/)
- [MIPIM Stands](https://theprime.cz/bwg_gallery/mipim-stands/)
- [ThePrime Gala 2024](https://theprime.cz/bwg_gallery/theprime-gala-2024/)
- [BASE_ScottWeber](https://theprime.cz/bwg_gallery/base_scottweber/)
- [FlorencPentaLand](https://theprime.cz/bwg_gallery/florencpentaland/)
- [AFI Kolbenova](https://theprime.cz/bwg_gallery/afi-kolbenova/)
- [Eurovea Tower](https://theprime.cz/bwg_gallery/eurovea-tower/)
- [Affordability Workshop](https://theprime.cz/bwg_gallery/affordability-workshop/)
- [Timber Praha UBM](https://theprime.cz/bwg_gallery/timber-praha-ubm/)
- [Dual Asset Mixer](https://theprime.cz/bwg_gallery/dual-asset-mixer/)
- [Panattoni Nyrany](https://theprime.cz/bwg_gallery/panattoni-nyrany/)
- [Port7-Scott.Weber](https://theprime.cz/bwg_gallery/port7-scott-weber/)
- [Port7ScottWeber](https://theprime.cz/bwg_gallery/port7scottweber/)
- [ConteraFinance](https://theprime.cz/bwg_gallery/conterafinance/)
- [IBF BBQ23](https://theprime.cz/bwg_gallery/ibf-bbq23/)

## Gallery Share

- [Image](https://theprime.cz/bwg_share/image/)

## Categories

- [Leases](https://theprime.cz/category/news/leases/)
- [Finance](https://theprime.cz/category/news/finance/)
- [Investment deals](https://theprime.cz/category/news/real-estate-investment/)
- [Investing](https://theprime.cz/category/investing/)
- [Projects](https://theprime.cz/category/projects/)
- [Urban Planning](https://theprime.cz/category/urban-planning/)
- [Proptech](https://theprime.cz/category/smart-development/proptech/)
- [Companies](https://theprime.cz/category/news/companies/)
- [News](https://theprime.cz/category/news/)
- [Sectors](https://theprime.cz/category/sectors/)
- [Offices](https://theprime.cz/category/sectors/offices/)
- [Retail](https://theprime.cz/category/sectors/retail/)
- [Industrial](https://theprime.cz/category/sectors/industrial-logistics/)
- [Residential](https://theprime.cz/category/sectors/residential/)
- [Project news](https://theprime.cz/category/news/project-news/)
- [Next Gen.](https://theprime.cz/category/smart-development/)
- [Sustainable](https://theprime.cz/category/smart-development/sustainability/)
- [BIM](https://theprime.cz/category/smart-development/bim/)
- [Augmented Reality](https://theprime.cz/category/smart-development/augmented-reality/)
- [Digital](https://theprime.cz/category/multimedia/)
- [Video](https://theprime.cz/category/multimedia/video/)
- [Podcasts](https://theprime.cz/category/multimedia/podcasts/)
- [CEE](https://theprime.cz/category/news/cee/)
- [Stocks](https://theprime.cz/category/investing/stocks/)
- [Funds](https://theprime.cz/category/investing/funds/)
- [Economy](https://theprime.cz/category/investing/economy/)
- [ReWork](https://theprime.cz/category/future-of-work/)
- [Architecture](https://theprime.cz/category/architecture/)
- [Prague](https://theprime.cz/category/prague/)
- [Bratislava](https://theprime.cz/category/bratislava/)
- [brainFood](https://theprime.cz/category/brainfood/)
- [Appointments](https://theprime.cz/category/news/appointments/)
- [Transport](https://theprime.cz/category/news/transport/)
- [Voices](https://theprime.cz/category/voices/)
- [3things](https://theprime.cz/category/3things/)
- [Hotels](https://theprime.cz/category/sectors/hotels/)
- [valuation](https://theprime.cz/category/valuation/)
- [residential](https://theprime.cz/category/residential-2/)
- [inflation](https://theprime.cz/category/inflation/)
- [Events](https://theprime.cz/category/events/)
- [Calendar](https://theprime.cz/category/events/upcoming/)
- [Notebook](https://theprime.cz/category/notebook/)
- [Industry Insights](https://theprime.cz/category/industry-news/)
- [Partner News](https://theprime.cz/category/valuation/partner-news/)

## Tags

- [finance](https://theprime.cz/tag/finance/)
- [banks](https://theprime.cz/tag/banks/)
- [retail](https://theprime.cz/tag/retail/)
- [covid](https://theprime.cz/tag/covid/)
- [tourism](https://theprime.cz/tag/tourism/)
- [hotels](https://theprime.cz/tag/hotels/)
- [sustainable](https://theprime.cz/tag/sustainable/)
- [office](https://theprime.cz/tag/office/)
- [Prague](https://theprime.cz/tag/prague/)
- [solar](https://theprime.cz/tag/solar/)
- [currency](https://theprime.cz/tag/currency/)
- [development](https://theprime.cz/tag/development/)
- [Offices](https://theprime.cz/tag/offices/)
- [financing](https://theprime.cz/tag/financing/)
- [IT](https://theprime.cz/tag/it/)
- [architecture](https://theprime.cz/tag/architecture/)
- [public buildings](https://theprime.cz/tag/public-buildings/)
- [flex offices](https://theprime.cz/tag/flex-offices/)
- [airport](https://theprime.cz/tag/airport/)
- [transport](https://theprime.cz/tag/transport/)
- [infrastructure](https://theprime.cz/tag/infrastructure/)
- [residential](https://theprime.cz/tag/residential/)
- [investment](https://theprime.cz/tag/investment/)
- [rental resi](https://theprime.cz/tag/rental-resi/)
- [urban development](https://theprime.cz/tag/urban-development/)
- [leases](https://theprime.cz/tag/leases/)
- [industrial](https://theprime.cz/tag/industrial/)
- [automobile](https://theprime.cz/tag/automobile/)
- [funds](https://theprime.cz/tag/funds/)
- [land](https://theprime.cz/tag/land/)
- [logistics](https://theprime.cz/tag/logistics/)
- [crowd funding](https://theprime.cz/tag/crowd-funding/)
- [urban planning](https://theprime.cz/tag/urban-planning/)
- [proptech](https://theprime.cz/tag/proptech/)
- [construction](https://theprime.cz/tag/construction/)
- [corruption](https://theprime.cz/tag/corruption/)
- [economy](https://theprime.cz/tag/economy/)
- [companies](https://theprime.cz/tag/companies/)
- [leasing](https://theprime.cz/tag/leasing/)
- [appointments](https://theprime.cz/tag/appointments/)
- [multifunctional](https://theprime.cz/tag/multifunctional/)
- [culture](https://theprime.cz/tag/culture/)
- [Brexit](https://theprime.cz/tag/brexit/)
- [automation](https://theprime.cz/tag/automation/)
- [industry](https://theprime.cz/tag/industry/)
- [facility management](https://theprime.cz/tag/facility-management/)
- [highrise](https://theprime.cz/tag/highrise/)
- [Ostrava](https://theprime.cz/tag/ostrava/)
- [mortgages](https://theprime.cz/tag/mortgages/)
- [fashion](https://theprime.cz/tag/fashion/)
- [leisure](https://theprime.cz/tag/leisure/)
- [resorts](https://theprime.cz/tag/resorts/)
- [reconstruction](https://theprime.cz/tag/reconstruction/)
- [CPI](https://theprime.cz/tag/cpi/)
- [bonds](https://theprime.cz/tag/bonds/)
- [asset management](https://theprime.cz/tag/asset-management/)
- [education](https://theprime.cz/tag/education/)
- [RICS](https://theprime.cz/tag/rics/)
- [MBA](https://theprime.cz/tag/mba/)
- [inflation](https://theprime.cz/tag/inflation/)
- [CA Immo](https://theprime.cz/tag/ca-immo/)
- [office lease](https://theprime.cz/tag/office-lease/)
- [warehouses](https://theprime.cz/tag/warehouses/)
- [real estate](https://theprime.cz/tag/real-estate/)
- [Bratislava](https://theprime.cz/tag/bratislava/)
- [windmill](https://theprime.cz/tag/windmill/)
- [bank](https://theprime.cz/tag/bank/)
- [merger](https://theprime.cz/tag/merger/)
- [PPF](https://theprime.cz/tag/ppf/)
- [planning](https://theprime.cz/tag/planning/)
- [transparency](https://theprime.cz/tag/transparency/)
- [high streets](https://theprime.cz/tag/high-streets/)
- [agency](https://theprime.cz/tag/agency/)
- [online](https://theprime.cz/tag/online/)
- [runds](https://theprime.cz/tag/runds/)
- [yields](https://theprime.cz/tag/yields/)
- [taxes](https://theprime.cz/tag/taxes/)
- [urban renewal](https://theprime.cz/tag/urban-renewal/)
- [redevelopment](https://theprime.cz/tag/redevelopment/)
- [malls](https://theprime.cz/tag/malls/)
- [politics](https://theprime.cz/tag/politics/)
- [Food](https://theprime.cz/tag/food/)
- [health](https://theprime.cz/tag/health/)
- [wellness](https://theprime.cz/tag/wellness/)
- [valuations](https://theprime.cz/tag/valuations/)
- [entertainment](https://theprime.cz/tag/entertainment/)
- [recreation](https://theprime.cz/tag/recreation/)
- [bureaucracy](https://theprime.cz/tag/bureaucracy/)
- [city logistics](https://theprime.cz/tag/city-logistics/)
- [mixed-use](https://theprime.cz/tag/mixed-use/)
- [golf](https://theprime.cz/tag/golf/)
- [online retail](https://theprime.cz/tag/online-retail/)
- [pandemic](https://theprime.cz/tag/pandemic/)
- [data](https://theprime.cz/tag/data/)
- [circular economy](https://theprime.cz/tag/circular-economy/)
- [last mile](https://theprime.cz/tag/last-mile/)
- [Poland](https://theprime.cz/tag/poland/)
- [mint](https://theprime.cz/tag/mint/)
- [F&B](https://theprime.cz/tag/fb/)
- [delivery](https://theprime.cz/tag/delivery/)
- [brownfield](https://theprime.cz/tag/brownfield/)
- [emobility](https://theprime.cz/tag/emobility/)
- [Romania](https://theprime.cz/tag/romania/)
- [lifestyle](https://theprime.cz/tag/lifestyle/)
- [JLL](https://theprime.cz/tag/jll/)
- [student housing](https://theprime.cz/tag/student-housing/)
- [exhibitions](https://theprime.cz/tag/exhibitions/)
- [public space](https://theprime.cz/tag/public-space/)
- [health care](https://theprime.cz/tag/health-care/)
- [energy](https://theprime.cz/tag/energy/)
- [nuclear](https://theprime.cz/tag/nuclear/)
- [retail parks](https://theprime.cz/tag/retail-parks/)
- [USA](https://theprime.cz/tag/usa/)
- [manufacturing](https://theprime.cz/tag/manufacturing/)
- [fintech](https://theprime.cz/tag/fintech/)
- [research](https://theprime.cz/tag/research/)
- [ARTN](https://theprime.cz/tag/artn/)
- [design](https://theprime.cz/tag/design/)
- [SICAV](https://theprime.cz/tag/sicav/)
- [Primark](https://theprime.cz/tag/primark/)
- [competition](https://theprime.cz/tag/competition/)
- [rent](https://theprime.cz/tag/rent/)
- [Prague 5](https://theprime.cz/tag/prague-5/)
- [Smichov](https://theprime.cz/tag/smichov/)
- [valuation](https://theprime.cz/tag/valuation/)
- [interest rates](https://theprime.cz/tag/interest-rates/)
- [J&T](https://theprime.cz/tag/jt/)
- [fitout](https://theprime.cz/tag/fitout/)
- [land registry](https://theprime.cz/tag/land-registry/)
- [egov](https://theprime.cz/tag/egov/)
- [digitalization](https://theprime.cz/tag/digitalization/)
- [CSR](https://theprime.cz/tag/csr/)
- [ESG](https://theprime.cz/tag/esg/)
- [sustainability](https://theprime.cz/tag/sustainability/)
- [ecosystem](https://theprime.cz/tag/ecosystem/)
- [propetch](https://theprime.cz/tag/propetch/)
- [EV](https://theprime.cz/tag/ev/)
- [CTP](https://theprime.cz/tag/ctp/)
- [investment fund](https://theprime.cz/tag/investment-fund/)
- [materials](https://theprime.cz/tag/materials/)
- [coworking](https://theprime.cz/tag/coworking/)
- [disaster](https://theprime.cz/tag/disaster/)
- [Berlin](https://theprime.cz/tag/berlin/)
- [hybrid offices](https://theprime.cz/tag/hybrid-offices/)
- [rework](https://theprime.cz/tag/rework/)
- [Brno](https://theprime.cz/tag/brno/)
- [Airbnb](https://theprime.cz/tag/airbnb/)
- [wages](https://theprime.cz/tag/wages/)
- [PSJ](https://theprime.cz/tag/psj/)
- [bankruptcy](https://theprime.cz/tag/bankruptcy/)
- [Warsaw](https://theprime.cz/tag/warsaw/)
- [restaurant](https://theprime.cz/tag/restaurant/)
- [PRS](https://theprime.cz/tag/prs/)
- [rental](https://theprime.cz/tag/rental/)
- [affordable housing](https://theprime.cz/tag/affordable-housing/)
- [luxury retail](https://theprime.cz/tag/luxury-retail/)
- [management](https://theprime.cz/tag/management/)
- [automobiles](https://theprime.cz/tag/automobiles/)
- [labor](https://theprime.cz/tag/labor/)
- [brownfields](https://theprime.cz/tag/brownfields/)
- [restrictions](https://theprime.cz/tag/restrictions/)
- [project management](https://theprime.cz/tag/project-management/)
- [AR/VR](https://theprime.cz/tag/ar-vr/)
- [competitions](https://theprime.cz/tag/competitions/)
- [urbanism](https://theprime.cz/tag/urbanism/)
- [investments](https://theprime.cz/tag/investments/)
- [transportation](https://theprime.cz/tag/transportation/)
- [Immofinanz](https://theprime.cz/tag/immofinanz/)
- [mortgage](https://theprime.cz/tag/mortgage/)
- [acquisition](https://theprime.cz/tag/acquisition/)
- [banking](https://theprime.cz/tag/banking/)
- [BTR](https://theprime.cz/tag/btr/)
- [demographics](https://theprime.cz/tag/demographics/)
- [podcast](https://theprime.cz/tag/podcast/)
- [brokerage](https://theprime.cz/tag/brokerage/)
- [legal firms](https://theprime.cz/tag/legal-firms/)
- [digitization](https://theprime.cz/tag/digitization/)
- [rents](https://theprime.cz/tag/rents/)
- [events](https://theprime.cz/tag/events/)
- [mixer](https://theprime.cz/tag/mixer/)
- [Ukraine](https://theprime.cz/tag/ukraine/)
- [Budapest](https://theprime.cz/tag/budapest/)
- [Bucharest](https://theprime.cz/tag/bucharest/)
- [green bonds](https://theprime.cz/tag/green-bonds/)
- [hospitality](https://theprime.cz/tag/hospitality/)
- [airlines](https://theprime.cz/tag/airlines/)
- [renovation](https://theprime.cz/tag/renovation/)
- [archite](https://theprime.cz/tag/archite/)
- [retail park](https://theprime.cz/tag/retail-park/)
- [Central Bohemia](https://theprime.cz/tag/central-bohemia/)
- [power](https://theprime.cz/tag/power/)
- [Palmovka](https://theprime.cz/tag/palmovka/)
- [Hungary](https://theprime.cz/tag/hungary/)
- [environment](https://theprime.cz/tag/environment/)
- [transaction](https://theprime.cz/tag/transaction/)
- [data centers](https://theprime.cz/tag/data-centers/)
- [appointment](https://theprime.cz/tag/appointment/)
- [subscribers mixer](https://theprime.cz/tag/subscribers-mixer/)
- [recession](https://theprime.cz/tag/recession/)
- [production](https://theprime.cz/tag/production/)
- [construction law](https://theprime.cz/tag/construction-law/)
- [Covid19](https://theprime.cz/tag/covid19/)
- [BSC](https://theprime.cz/tag/bsc/)
- [BREEAM Communities](https://theprime.cz/tag/breeam-communities/)
- [wood](https://theprime.cz/tag/wood/)
- [monuments](https://theprime.cz/tag/monuments/)
- [insurance](https://theprime.cz/tag/insurance/)
- [chairty](https://theprime.cz/tag/chairty/)
- [church](https://theprime.cz/tag/church/)
- [Gala](https://theprime.cz/tag/gala/)
- [law firms](https://theprime.cz/tag/law-firms/)
- [ThePrime Real Estate Gala](https://theprime.cz/tag/theprime-real-estate-gala/)
- [Slovakia](https://theprime.cz/tag/slovakia/)
- [hotel](https://theprime.cz/tag/hotel/)
- [event](https://theprime.cz/tag/event/)
- [notebook](https://theprime.cz/tag/notebook/)
- [gigafactory](https://theprime.cz/tag/gigafactory/)
- [timber](https://theprime.cz/tag/timber/)
- [regulation](https://theprime.cz/tag/regulation/)
- [Florenc](https://theprime.cz/tag/florenc/)
- [industry news](https://theprime.cz/tag/industry-news/)
- [rental residential](https://theprime.cz/tag/rental-residential/)
- [Germany](https://theprime.cz/tag/germany/)
- [nearshoring](https://theprime.cz/tag/nearshoring/)
- [PPP](https://theprime.cz/tag/ppp/)
- [cee](https://theprime.cz/tag/cee/)
- [affordable resi](https://theprime.cz/tag/affordable-resi/)
- [art](https://theprime.cz/tag/art/)
- [economics](https://theprime.cz/tag/economics/)
- [engineering](https://theprime.cz/tag/engineering/)
- [arson](https://theprime.cz/tag/arson/)
- [security](https://theprime.cz/tag/security/)

## Class Types

- [Invitation](https://theprime.cz/wcs-type/invitation/)
- [Tickets](https://theprime.cz/wcs-type/tickets/)
- [Open event](https://theprime.cz/wcs-type/open-event/)

## Locations

- [Yalta Fusion & Bar](https://theprime.cz/wcs-room/yalta-fusion-bar/)
- [Mlynec restaurant](https://theprime.cz/wcs-room/mlynec-restaurant/)
- [Mánes](https://theprime.cz/wcs-room/manes/)
- [Terrace Grill](https://theprime.cz/wcs-room/terrace-grill/)
- [The Flow Building Terrace](https://theprime.cz/wcs-room/the-flow-building-terrace/)
- [Machovo lake](https://theprime.cz/wcs-room/machovo-lake/)
- [Golf Čertovo Břemeno](https://theprime.cz/wcs-room/golf-certovo-bremeno/)
- [Výstaviště Holešovice](https://theprime.cz/wcs-room/vystaviste-holesovice/)
- [Trade Fair Center Messe München](https://theprime.cz/wcs-room/trade-fair-center-messe-munchen/)
- [Venue TBA](https://theprime.cz/wcs-room/venue-tba/)
- [Palais des Festivals](https://theprime.cz/wcs-room/palais-des-festivals/)
- [Marriott Hotel Prague](https://theprime.cz/wcs-room/marriott-hotel-prague/)
- [KPMG offices](https://theprime.cz/wcs-room/kpmg-offices/)
- [Dum Radost](https://theprime.cz/wcs-room/dum-radost/)
- [The Julius Prague](https://theprime.cz/wcs-room/the-julius-prague/)
- [UNIQ building](https://theprime.cz/wcs-room/uniq-building/)
- [Politickych veznu 7](https://theprime.cz/wcs-room/politickych-veznu-7/)
- [Palac Zofin](https://theprime.cz/wcs-room/palac-zofin/)
- [Na Prikope 15](https://theprime.cz/wcs-room/na-prikope-15/)
- [Italska 67 Churchill 1](https://theprime.cz/wcs-room/italska-67-churchill-1/)
- [Hub Hub Panska 2](https://theprime.cz/wcs-room/hub-hub-panska-2/)
- [The Fitzergald](https://theprime.cz/wcs-room/the-fitzergald/)
- [Letenske zamecek](https://theprime.cz/wcs-room/letenske-zamecek/)
- [Eurostars Thalia Hotel](https://theprime.cz/wcs-room/eurostars-thalia-hotel/)
- [Hala strojovna Kladno](https://theprime.cz/wcs-room/hala-strojovna-kladno/)
- [Obecni dum](https://theprime.cz/wcs-room/obecni-dum/)
- [Jindrisska 20](https://theprime.cz/wcs-room/jindrisska-20/)
- [Forum Karlin](https://theprime.cz/wcs-room/forum-karlin/)
- [Pobřežní 648](https://theprime.cz/wcs-room/pobrezni-648/)
- [Andaz Hotel](https://theprime.cz/wcs-room/andaz-hotel/)
- [Pilsner Urquell Experience](https://theprime.cz/wcs-room/pilsner-urquell-experience/)
- [Anezsky klaster](https://theprime.cz/wcs-room/anezsky-klaster/)
- [Sal architektu](https://theprime.cz/wcs-room/sal-architektu/)
- [Cubex Centre](https://theprime.cz/wcs-room/cubex-centre/)
- [Prague](https://theprime.cz/wcs-room/prague/)
- [Pardubice](https://theprime.cz/wcs-room/pardubice/)
- [Almanac X](https://theprime.cz/wcs-room/almanac-x/)
- [Forum Business Center Bratislava](https://theprime.cz/wcs-room/forum-business-center-bratislava/)
- [Moon club](https://theprime.cz/wcs-room/moon-club/)
- [Narodni dům Vinohrady](https://theprime.cz/wcs-room/narodni-dum-vinohrady/)
- [Zenwork Perlova 5](https://theprime.cz/wcs-room/zenwork-perlova-5/)
- [Nova Spirala](https://theprime.cz/wcs-room/nova-spirala/)
- [Aupark Tower](https://theprime.cz/wcs-room/aupark-tower/)
- [Butterfly Karlin](https://theprime.cz/wcs-room/butterfly-karlin/)
- [Hotel Passage Brno](https://theprime.cz/wcs-room/hotel-passage-brno/)

## Project Skills

- [logistics](https://theprime.cz/project_tag/logistics/)
- [industrial](https://theprime.cz/project_tag/industrial/)