The Cimex investment group has been focusing on hotel, office and residential projects. The company is responding to Prague's market changes and new trends by transforming older office buildings into modern housing.
At the end of this year, Cimex Invest plans to complete two projects: M-House and mo-cha home, which are located near the Kubánské square and in Pankrác in Prague. The accommodation units in M-House are for sale, while mo-cha home will offer rental housing to the market approximately three months before the completion of the reconstruction.
“There is a high demand for offices, but for older properties requiring major reconstruction, a change of use makes sense. In Prague there is a permanent shortage of apartments,” explains Alexandra Němcová, Director of Asset Management at Cimex Group.
M-House is an example of a transformation of a former office building into a modern residential space that meets the requirements of today's market. "While in the case of housing, even in older buildings, the highest standards can be achieved through thoughtful renovation, such an approach would often be ineffective or even completely impossible for office use," continues Němcová.
She also adds, that the greatest advantage of renovating older properties is the location, for example the border between Vršovice and Vinohrady, which almost excludes new construction.
