ARTICLES LABELLED WITH TAG Czech Republic

Passerinvest Group has started the construction of a new office and mixed-use building in Prague's Brumlovka. Offices, shops and rental apartments are all listed in the design concept of the Hila project.

Compared to neighbouring Poland or Slovakia, rental prices for industrial properties in the Czech Republic can run up to one-third higher. Low vacancy rates and a small supply of immediately available space are forcing tenants to prefer more competitive offers from neighbouring countries, as shown in the regular quarterly industrial property market report published by Colliers.

Real estate investor Martin Ladyr, through property management software company Swrop, has bought the office building known as Atrium House in Prague 10 from the investment group Cimex. He has also confirmed plans to reconstruct and modernise it gradually.

Cushman & Wakefield has taken over the management of the OC Opatovská shopping centre in Prague 4, owned by Conseq realitní fond.

Development group Crestyl has presented the new Kappa residential building on Prague's Hagibor next to the Želivského metro station. The construction of the fifth apartment building within the Hagibor project is starting at the beginning of 2025, with completion scheduled for 2027.

The new design of Nový Žižkov Centre has revealed the most significant change of replacing the original design of 3 towers reaching a height of 100 metres with only one centrally located undulating tower. The investor of this project in Prague 3 is the Czech residential builder Central Group.

Colliers has promoted Josefina Kurfurstova to the newly created position of Senior Analyst - CEE Business Intelligence covering Bulgaria, the Czech Republic, Hungary, Poland, Romania, and Slovakia.

The international developer UDI Group has opened a fund of qualified investors. It is intended for private and institutional investors. In addition to funds or banks, large private investors can also invest in the fund. The lowest possible deposit is CZK 1 million (€40,000). In the future, the fund will also include sub-funds aimed at financing individual large projects. In the first phase, the General sub-fund is opened, which will invest in the UDI Group as a whole, and the Conservative sub-fund invests in loans for individual projects. To investors, the fund will offer appreciation in a more conservative form with a guarantee of a minimum return of 6.5% per year, with a premium return of around 15% per year expected. The status and statutes of the fund were checked and approved by the CNB.

The real estate market in the Czech Republic has recently been most influenced by the overall economic situation associated with current events in Europe including the war in Ukraine, expensive energy prices and high interest rates. According to 2023 PSN data in the residential segment, the situation is favourable for investor purchases.

Real estate investor and fund manager Cromwell Property Group announced the sale of six retail centres across Poland, held by the Cromwell Polish Retail Fund (CPRF), to Star Capital Finance for €285 million.