Ján Krnáč, Executive Director of Cresco Real Estate, talked to Property Forum about the opportunities in the Czech and Slovak residential market. He also explained the “rent to own” scheme developed for those not able to afford a mortgage right now due to the higher interest rates.

Marriott International has added a new hotel to its global portfolio with the opening of Dorothea Hotel, Budapest, Autograph Collection. The new luxury hotel is located in Budapest’s District V and offers 216 rooms and suits.

According to Workthere.pl’s latest Flexmark report, larger companies (101+ people) and scale-ups (21-100 people) now account for 54% of global flexible office members, compared with 42% of members last year. The flexible office specialist notes that this increase is also reflected in take-up levels with these larger companies accounting for 34% of global take-up in flexible offices, compared to 22% in 2022 and just 13% in 2020.

Radisson Hotel Budapest BudaPart, the first upscale Radisson branded hotel in Hungary has opened its doors in the vibrant Újbuda district. This hotel serves both as a retreat as well as a business hub and offers new bar and restaurant options for locals and overnight guests.

In Q3 2023, the Prague office market grew by more than 60,000 sqm of modern offices. This was the best result since mid-2020. No further similar peak is expected in the next three years at least, as no new construction has started for more than a year. Although investors are placing increasing emphasis on the sustainability of buildings, benchmark rental prices are not changing fundamentally, while landlords are trying to attract more generous allowances or longer lease holidays, Colliers reports.

The Czech Office for the Protection of Competition has allowed the investment group Penta to buy (through Penta Real Estate) the company ČSAD Praha Holding, which owns the Florenc bus terminal and adjacent land in the capital. The office announced this on its website. The companies did not disclose the price of the transaction, ČTK reports.

Panattoni has completed and officially opened a BTS facility for Vita Group, an international polyurethane foam manufacturer, within Panattoni Park Żary. The developer plans to expand the park by an additional 7,000 square meters, with the new space being adapted to the specifics of the future tenant's operations.

East Gate Pro Business Park, Wing’s latest industrial development project, has reached a new milestone with the delivery of hall A2 in phase two. An additional area of 9,100 sqm is available in the newly completed building for production, assembly, fulfilment and warehousing purposes.

The construction and development group Metrostav is buying the South Bohemian company Reno Šumava, which operates three quarries in South Bohemia and has its own construction company. The merger is currently being assessed by the Office for the Protection of Competition (ÚOHS), writes local daily e15.cz. 

The first-ever euro-based share issuance on the Budapest Stock Exchange has successfully been concluded. Through an initial public offering (IPO), Shopper Park Plus raised a total of €37.2 million in capital, placing its shares into the BSE Premium Category. The company manages a significant retail real estate portfolio in the region, comprising 18 units. It aims to become the owner and operator of the biggest shopping park in the region in the medium term, and going public could do a lot to help it achieve this goal.