ARTICLES LABELLED WITH TAG Czech Republic

In the last quarter alone South African investors have spent €1 billion in CEE and it is most likely that they won’t stop chasing higher yields anytime soon. Even though investments in Central and Eastern Europe are generally considered risky by European standards, coming from other parts of the world opportunities in the region may seem rather safe. We report from CEE Property Forum 2016, co-organised by Portfolio Property Forum and RICS, where over 300 visitors and 70 speakers came together to discuss the most pressing issues concerning regional investment markets.

Prologis has begun the development of an 11,720 sqm speculative distribution facility at Prologis Park Prague-Airport in response to high customer demand, which has resulted in the park being fully let.

Tristan Capital Partners, a pan-European real estate investment fund, has announced three new lease agreements in their recently refurbished Praha City Center office building. The new tenants are leasing a combined 3,000 square metres of the 16,000 square metre property.

According to the latest report by Colliers International, during the first half of 2016, some 12,000 square metres of modern office space were completed in Prague. An additional 20,300 square metres is expected to follow during the second half, which will lead to 2016 being the “leanest” year in terms of development completions since 1992, with a total of only 32,300 square metres of completed offices.

Tchibo Prague has held the topping out ceremony of the first its distribution centre in Panattoni Park Cheb, which will serve online customers from the CEE region and the southern part of Germany. Currently, the total rentable area has reached 39,000 sqm which will be shortly extended to 73,000 sqm. After completion, the premises will become the second largest logistics hall ever constructed in the territory of the Czech Republic after the distribution centre of Amazon in Dobrovíz. The Tchibo distribution centre shall start its operation by the end of this year. The second phase of the project will be completed in the middle of next year.

Neinver, a Spanish developer, investor, property and fund manager, has decided to enter the Czech market, the eighth market in which the company has a presence. Neinver has partnered with The Prague Outlet to forge a joint venture launching Prague The Style Outlets, the first premium outlet centre in the Czech Republic. Neinver will be in charge of leasing, retail and property management. The joint venture is financed by PPF Bank.

Student accommodation has become popular among investors in some Western European cities, but there is an almost complete lack of this investment product in the CEE region. Colliers International has released a recently conducted research analysis that explores the current status of student housing in the Czech Republic and the future prospects of this sector that could attract both domestic and foreign investors.

The opening of the Courtyard Marriott Hotel in Brno, Czech Republic, built by CTP at Spielberk has been set to take place in the autumn. 

Atrium European Real Estate Limited, an owner and manager of shopping centres and retail real estate in Central and Eastern Europe, has announced its results for the second quarter and six months ended 30 June 2016.

Investment into Central and Eastern European (CEE) countries (excluding Russia) for H1 2016 registered a substantial increase (59%) compared to same period of last year, surpassing €5 billion. Expectations are that for the entire year, investment volumes will reach and exceed the record volumes of 2015 with all CEE countries expected to perform strongly, says CBRE.