ARTICLES LABELLED WITH TAG Czech Republic

The COVID-19 pandemic is hitting the global economy hard, with all real estate sectors in the Czech Republic affected to varying degrees. But in the subsequent low interest rate environment, Czech real estate as an asset class should continue to offer superior returns, according to the latest research from Savills.

Governments continue to come up with measures to help stabilize the economy. Property Forum collected the latest efforts by CEE governments to rescue businesses and individuals affected by the coronavirus crisis.

Many market players, especially those working in industrial and office, expect a swift return to business as usual in the third quarter. Andy Thompson, Director of Czech & Slovak Capital Markets and Tewfik Sabongui, Managing Partner for the Czech Republic shared Colliers International’s expectations for the coming months.

Online grocer Rohlik.cz has expanded its footprint in Brno with the lease of a custom-built, 8,000 sqm facility at CTPark Brno Líšeň. The expansion comes as the company has outgrown its existing 4,000 sqm premises at CTPark Brno. The new facility will double the company’s current footprint and will include both warehousing and production areas. Move in is on schedule for September 2020.

Cushman & Wakefield summarised the latest progress and impacts the Czech Republic’s real estate sector is facing due to the coronavirus outbreak.

CPI Property Group has prepared an update for its stakeholders regarding the Group’s response to the challenges posed by the COVID-19 outbreak.

CBRE has facilitated the lease of approximately 15,500 sqm of office space to the expanding Prague team of ExxonMobil in Luxembourg Plaza in Prague 3. The 1,200 employees who currently work in two different office buildings will move into the new headquarters in Q1 2022.

Erste Bank Group anticipates an economic slowdown for 2020 in most CEE countries due to the coronavirus situation. The bank’s report mentions a negative scenario as well, which would result in a massive recession in the region.

CPI Property Group offered the Czech government the entire capacity of the 14 hotels operated by CPI Hotels in the event that the government requires extra space for patients. The offer includes approximately 5,000 beds in 2,490 rooms and conference space that can normally accommodate almost 10,000 guests in total.

Due to the uncertainty surrounding the coronavirus situation Property Forum has decided to reschedule its spring events – Bratislava Property Forum, SEE Property Forum and Prague Property Forum – to autumn 2020.