ARTICLES LABELLED WITH TAG Czech Republic

As of 7 November 2023, Swiss Life Select Reality will be managed by Andrea Daňhelová, who was previously Director of Operations, Legal and Compliance. Andrea Daňhelová takes over the management of one of the most important real estate companies on the Czech market from Jaromír Mašek, who has been in charge of the company since its establishment in 2013. Swiss Life Select Reality is a subsidiary of Swiss Life Select. 

Cushman & Wakefield has appointed Magsud Rahmanov as the new Head of Hotel Transactions CEE & SEE and named him as a Partner. 

Dm-drogerie markt has signed an agreement to lease new warehouse space in Prologis Park Prague-D1 Ostředek. The new dm distribution centre will cover an area of 21,000 sqm and will also include offices. 

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.