ARTICLES LABELLED WITH TAG Czech Republic

Czech real estate developer RC Europe has opened its third retail park in Romania, following an investment of €9 million. The retail park, operating under the Nest brand, is located in Oradea, occupying approximately 6.500 sqm GLA. Construction works on the project started in October 2019.

Trei Real Estate GmbH increased its development volume to €960 million euros during H1 2020. This implies an increase by €60 million euros since year-end 2019 (€900 million). Compared to the prior-year figure (H1 2019: €730 million), the growth actually amounted to €230 million, which equals an increase by 31 percent year on year. A breakdown of the €960 million by type of use shows €175 million in the retail segment and €785 million in the residential segment.

New research from Cushman & Wakefield has identified Berlin, Reykjavik, Oslo, Warsaw, Zurich, Milan, Vienna, Madrid and Prague as emerging hotspots for data centre development in Europe. The European data centre market has long been dominated by the ‘FLAP-D’ markets of Frankfurt, London, Amsterdam, Paris and Dublin, cities with their own deep business and financial sectors to serve. While these markets are still critical to the data centre ecosystem as entry points - and with over 500 MW of construction underway among them - interest in the FLAP-D markets is now competing with physical limitations including a lack of energy to power the centres, limited stock and a need to be closer to regional users.

Private investment company Cimex Group has appointed Savills as property and leasing manager for its portfolio of twelve properties – ten in Prague, one in Plzen and one in Karlovy Vary – in the Czech Republic, starting August 2020. The total floor area of the buildings is more than 100,000 sqm and the portfolio currently provides premises for more than 500 tenants.

A planning permit has been issued for Penta Real Estate’s The Residence Nuselský Pivovar development in Prague’s Nusle district. As part of the €77 million (CZK 2 billion) project, the developer will build 450 residential units on the site a historic brewery.

CTP will modernise the Spielberk office complex near the Brno city centre. The aim is to lower energy consumption and ultimately reduce the carbon footprint of the site. CTP is investing almost €1.5 million (CZK 40 million) into modernising the energy system.

108 Agency is expanding into the Hungarian market. The company has now started its operations by cooperating with three local professionals István Fazekas, Marcell Szotyori-Nagy and László Kemenes who have many years of experience in commercial real estate.

Local developer Crestyl Group has completed the fourth office building in its Dock district development project, located in Prague’s Palmovka area.

During Q2 2020, gross take-up, which includes renegotiations, reached 360,500 sqm showing a slight increase of 13% compared to Q1 2020 figures. In comparison to the same period of the previous year, gross take-up decreased by 14%. The Industrial Research Forum published its Q2 2020 figures for the industrial market in the Czech Republic.

From July 2020, KGAL Investment Management Group GmbH, based in Germany, has appointed Savills as local asset manager for DRN, an office complex on Národní St., Prague 1.