ARTICLES LABELLED WITH TAG Czech Republic

The Antracit development group is expanding its project team and changing its organizational structure. Zuzana Bajgarová has been appointed Director for the Czech Republic and Slovakia. 

A new city area CTZone is under construction in Ostrava, which will be the centre of business opportunities and residential housing. Behind the ambitious project is CTP, which is simultaneously developing several other activities in the Ostrava region. 

One of the largest Czech banks, Komerční banka, is selling one of its buildings at 42 Wenceslas Square. However, neither the price of the transaction nor the new owner has been disclosed yet. The transaction was first reported by the online daily newstream.cz. 

Czech developer and investor Crestyl has strengthened its position in the Central European residential property market. This week it completed the acquisition of the remaining 50% stake in one of Poland's largest residential developers Spravia (formerly Budimex Nieruchomości) from Cornerstone Partners, giving it full control of the company. Both partners initially bought the Polish developer in 2021 for PLN 1.51 billion (approximately CZK 8.5 billion) in one of the largest real estate deals in CEE. The price of the current transaction has not been disclosed. This acquisition will enable the integration of Spravia into the Crestyl Group, while further strengthening Crestyl’s balance sheet from the current €850 million to €1.3 billion, with the intention to grow further in both markets.

The investment group Penta, which is developing the area around the Masaryk railway station in Prague, wants to buy ČSAD Praha Holding through Penta Real Estate. The company owns the Florenc bus station and the surrounding land. The merger is being assessed by the Office for the Protection of Competition (ÚOHS) in a so-called simplified procedure, and a decision will be issued within 20 days. The companies have not disclosed the price of the transaction. Penta also completed work on two nearby buildings called Masaryčka on Monday. The group's long-term intention is to unify the entire area by ownership, writes the daily e15.cz.

A real estate bond sale in Slovenia worth €9.5 million was announced by Slovak property developer Corwin and Czech investment company Hartenberg operating in CEE.

A CZK 4 billion (€162 million) real estate deal is set to take place in the Czech Republic in 2024, which will undoubtedly be one of the biggest in the next year. Development group Portin is set to sell a set of around ten retail parks whose main tenants include Billa, Penny Market, DM Drogerie and Datart, writes online daily e15.cz. 

The City Point office building in Prague 4 - Pankrác is changing hands. It is being transferred from the hands of the investment company Amundi Czech Republic to the ownership of the domestic operator of coworking spaces and serviced offices WorkLounge. Mint Investments Group was the investment advisor that handled the entire transaction for Amundi. Agents from real estate consultancy Cushman & Wakefield and law firm Havel & Partners also participated in the deal. The transaction was worth more than CZK 450 million (€18.25 million). 

The capital city will buy the Czech Post building in Na Strži Street in Prague 4 for CZK 425 million (€17.3 million). The city wants to sign the contract with the post office as soon as possible, said councillor Adam Zábranský (Piráti). All 57 councillors present supported the purchase. The building is a seven-storey building from 1984 with adjacent land, writes ČTK.

Half of the hotel investors in CEE already address ESG in their transaction due diligence, and 40% are in the process of including it, says Cushman & Wakefield in their newest report.