AFI Europe has taken stock of the results for 2021, a year in which it has been fully committed to implementing its new corporate strategy focused exclusively on rental housing. The company is currently constructing four buildings in three residential projects in Prague. It plans to complete the larger part of them this year.

U.S. logistics giant GXO lands at CTPark Bor. This large unit in the size of 60,000 sqm will lift the Czech/German border market hotspot hub to full capacity. It will boost the development demand at CTP satellite sites in Aš and Cheb too, the company reports.

Thirteen years after the fire in 2008, the large Industrial Palace in Prague has begun renovation. Its reconstruction began on 1 February this year and should be completed within three years. According to the Czech Press Agency, the cost of the reconstruction is expected to be CZK 2.64 billion. The reconstruction will be carried out by a consortium led by Metrostav, Prague's City Hall announced.

Real estate consultancy Colliers has appointed Oana Stamatin as ESG (Environmental, Social and Governance) Chief Officer in Central and Eastern Europe (CEE). 

COVID-19 has significantly changed what clients are looking for across different real estate sectors, including facility management. Libor Holík, CEO of B+N Czech Republic and Slovakia talked to Property Forum about current challenges and opportunities in the facility management business.

Českomoravská Nemovitostní (ČMN) has appointed Karel Bor as CEO and plans to strengthen its position on the market in the nearest future, the company announced on its website.

A new development division of the Lekvi Group plans to build fifteen new retail parks in the region within five years. So far, this group of investors from the countries of the former Soviet Union has focused on the sale of apartments but now sees potential in retail parks in the Czech and Slovak Republics. The planned projects should cost CZK 1 billion, E15 reports.

In the Czech Republic, modular construction has often been used in prefabricated houses in the past. Now, developer YIT is coming up with prefabricated parts in the new residential project Lappi Hloubětín in Prague. Further use of the modules is planned in the Vesi Hostivař project, e15.cz reports.

Czech investment group RSJ and developer Panattoni have agreed on the construction of a new industrial park outside the city of Hradec Kralové. The 35,000 sqm warehouse will be located at one of the exits of the D11 motorway.

According to Savills, the last quarter of 2021 was the busiest of the year for commercial real estate investment, with 30 closed transactions and a total volume exceeding €628 million. This was the highest quarterly volume of real estate investment since Q1 2020 and a 23% improvement on Q4 2020 volume.