Cresco moves ahead with resi project in Prague

30
Jan
2025
News - Cresco moves ahead with resi project in Prague #Cresco #Czech Republic #Hochtief #Prague #residential

by Property Forum | Residential

The foundation stone of the second stage of the SO-HO Rezidence by Cresco has been laid in Prague's Holešovice.


The SO-HO Residence is being built on the brownfield of the former Tesla factory. The construction includes 194 modern apartments and 8 commercial units on the ground floor. The general construction contractor Hochtief anticipates the completion of the 2nd stage in the 4th quarter of 2026. 

Cresco Real Estate has sold or reserved more than 35% of the apartments from this second stage. The buildings are designed in a low-energy standard, rainwater from the roofs and paved areas is used to maintain the greenery in the project. Extensive greenery on the roofs helps to save the energy needed for heating or cooling, and at the same time gives a green feeling to the residents in the surrounding apartments.

"As part of the second stage, we will also build a kindergarten with two classrooms and a garden, which, after the completion of the new building, we will hand over to the Prague 7 district and they will operate it," said Aleš Svatoň, Director at Cresco Real Estate for the Czech Republic.




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New leases

  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


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