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 as its Head of Research. Sosef was previously Research and Strategy Vice President for Prologis Europe.
Month-on-month inflation rose just 1.3% in July, the lowest figure since February. But that still made for a jump of 17.2% y-o-y and economists warn that consumer prices are about to get hit by increased electricity prices. The Czech Statistics Office reports that July’s figures were influenced primarily by recreational and culture goods, with vacation service rising by 23 percent. Groceries jumped 19.3 percent y-o-y, while staples such as flour, break and butter rising 64, 30 and 61% respectively. What’s not going up (for now) are mortgage rates. Compared to June, the average offered mortgage rose just 0.04% to 6.28%, while the Czech National Bank broke a series of consecutive interest rate hikes last week by deciding to leave the basic rate at 7% rather than raising them.
An independent jury has shortlisted five architectural studios in a design competition for a new city rental apartment building that the Prague Development Company (PDS) is building in Prague 10. The project is part of the redevelopment of the Bohemians football stadium in Vršovice. The five studios included in the last round are Pavel Hnilička Architects+Planners together with Baumschlager Eberle Architekten, D3A, heri&salli, ADEPT together with ohboi, and Kuba & Pilař. Prague’s deputy mayor says the new building will be placed in what is currently a parking lot for the stadium. “City flats will be for use by people in professions that are important for the city, such as teachers, and for economically vulnerable social groups such as single mothers or senior citizens who are alone.” PDS director Petr Urbanek says an architectural competition will also be held to guide the reconstruction of the existing stadium and for a new sports facility at the site.
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