Prague project worth billions sees green light

28
Jan
2025
News - Prague project worth billions sees green light #Czech Republic #investment #IPR #Prague

by Property Forum | Investment

The city of Prague has received a building permit for the revitalisation of the Smíchov transport hub, including an interchange for city and intercity buses or trams, in addition to the modernised railway station and metro station, reports E15.cz.


The three-year reconstruction of Prague's Smíchov railway station officially began last February. The reconstruction for CZK 5.1 billion (€203,4 million) includes the repair of tracks and platforms, the reconstruction of subways and their extension or the construction of elevators. The station hall and the surrounding area are now awaiting revitalisation.

According to the budget approved in November, one of Prague's largest investments is going into the construction of the transport terminal. The biggest item will be the construction of Metro D budgeted at CZK 6.1 billion (€243.3 million).

A P+R parking lot for approximately 1,000 cars and a bicycle parking lot are to be created. Studio A69 - architects is behind the project. 

The Institute of Planning and Development of the Capital City of Prague originally expected completion in 2026, but according to current estimates, the finalisation of the project will be delayed by two years.

In the direction of the Na Knížecí bus station, there are already several new office buildings and apartments of the Smíchov City project. Last June, the developer Sekyra Group also started construction in the southern part of the brownfield, where, among other things, the new headquarters of Česká spořitelna is being built.




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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