ARTICLES LABELLED WITH TAG Czech Republic

A complex of three Komerční banka office buildings with an area of more than 12,000 sqm has been bought by Central Group in Prague 9. These are non-residential premises that can serve as emergency facilities and space for NGOs assisting refugees in the current war situation in Ukraine. The developer informed about the offer of the complex on its website, along with information about stopping the sale of apartments to citizens of Russia and Belarus who do not reject the aggressive and barbaric actions of their countries towards Ukraine.

JRD Group sold real assets worth CZK 1.054 billion in 2021, increased the capacity of photovoltaic power plants in Hungary to 30 MWp and commissioned a new prototype plasma gasification reactor. The JRD Land and JRD Development divisions were also strengthened, the company announced in its annual report.   

The new residential project Rezidence Radimova Břevnov will start construction in April in Prague 6, a few minutes from Prague Castle. The developer Geosan Development has now received a building permit and plans to start construction within a month. The residence should be completed within two years, the developer announced today.  

Czech investment company REICO investiční společnost České spořitelny, a.s. (REICO IS ČS) as of February has appointed Savills as property manager for its Prague office complex Bořislavka. Savills will work in cooperation with Active Retail Asset Management (ARAM) who will manage the retail scheme within the asset.  

The City of Prague intends to provide rental apartments for firefighters, teachers, police officers and other necessary professionals in the next ten years with massive construction of public housing.  Last year, the city established the Prague Development Company (PDS), which is to prepare construction on city plots, the municipality announced.

Heimstaden has offered the Czech government 500 apartments for Ukrainian families. At the same time, the company is trying to equip the flats, which can accommodate up to 2,000 people, with furniture. At the same time, it is also trying to take care of the families of its Ukrainian employees, the company announced in response to the current war situation in Ukraine. 

A new 21,000 sqm logistics park is under construction in the town of Valašské Meziříčí, located in the east of the Czech Republic. The third fund of the Arete Group is now starting construction with an investment of over €15 million. According to the investor´s plans, the first tenants will move in by the end of this year, the company reports on logistikadnes.

KGAL has acquired Charles Square Center, a multi-tenant office property in downtown Prague, from Commerz Real, the company announced today.

Red Group has sold most of its residential project in Prague 5 to development company Crestyl. It retained only one apartment building out of five buildings. The project should include a total of 200 housing units, ThePrime reports. The value of the acquisition and other plans of the new owner are not yet known. 

Lidl, the discount grocery chain, plans a store on Prague's Na Příkopě street. It will use the premises of a historic building, the former headquarters of the Czechoslovak Commercial Bank. The grocery store will be located next to the Hamleys toy store. Lidl expects to open a new store in the middle of the year, the Czech News Agency (ČTK) reports. Na Příkopě Street ranks around 20th in Cushman & Wakefield's ranking of the world's most expensive streets.