ARTICLES LABELLED WITH TAG Czech Republic

The developer Sekyra Group must pay the city of Prague more than half a billion crowns (€22 million) for the construction of public spaces in its new residential project on Prague's Rohanský island, according to new rules for private investors. This is the highest contribution a developer has ever had to pay to the capital so far, Seznamzpravy.cz reports.  

Former Czech Prime Minister and billionaire Andrej Babiš, who is now facing trial for misuse of EU subsidies, is buying residential land in Slovenia. He has bought a plot of land in the centre of Ljubljana with his investment fund Hartenberg and the Slovak developer Corwin, where up to 400 flats can be built. The transaction, worth an estimated €25 million, would make Andrej Babiš one of the major players on the Slovenian real estate market, reported the investigative server Necenzurirano.si, quoted by the Czech daily E15.cz.

Rising financing costs do not help when it comes to planning ESG-related CapEx. However, most landlords wish to keep their buildings attractive to occupiers and higher energy costs are bringing the discussion of energy-efficient buildings into sharper focus, says CPI Property Group’s Non-Executive Director and Chairman of ESG Committee, Omar Sattar.

JRD has announced changes in top management positions. Alexandra Tomášková is now a two-time CEO as she will also lead JRD Development in addition to her position as CEO of JRD Land. The current head of this division, Martin Svoboda, continues to lead JRD Group.

CBRE has analysed the Czech commercial real estate market in detail and estimates that the next six months of this year will be as strong as the first six months of the year, which hit the €1.15 billion mark. By the end of the year, according to CBRE, the €2 billion level should be reached, similar to last year and the year before.

The vacancy rate of the Prague Office market has not changed in Q2 2022 and remained at the same value as in the previous quarter. Nevertheless, the rents and service fees continue to rise and the volume of net take-up is the highest since the end of 2019, says Colliers.

JRD Development completed its largest residential project in Prague's Strašnice district. 156 flats and 1320 sqm of commercial space were built in the energy-efficient complex of three buildings. The project, called Green Port Strašnice, has already been approved and is almost sold out, the developer announced.

JLL has introduced a seven-person international Sustainability Services and ESG team. The team will focus on consultancy in both topics due to the constantly rising demand for sustainability services in the real estate sector.

Dr. Erwin Hanslik MRICS, Taylor Wessing’s CEE Head of Real Estate & Construction and head of the firm's Prague and Brno offices, talked to Property Forum about the legal challenges real estate investors and developers in the Czech Republic have to face.

Immofinanz has successfully closed the sale of the BBC Gamma office building in Prague to Passerinvest Group. The transaction was concluded at a premium to the book value as of 30 June 2022, the seller announced.