For the first time in almost thirty years of Czech development group Crestyl, the person in the position of international CEO is changing. Simon Johnson, who has held the position of COO of the group for the past 14 years within Crestyl and also acted as executive director for the Czech Republic, is taking over the management of the entire group.

The offer of new residential buildings in Q3 2024 in Prague has decreased slightly, reports BuiltMind in its quarterly analysis of Prague residential segment. However, outlooks are optimistic, thanks to stable inflation and declining rates.

According to the latest Savills Investment Report, the commercial property market in the Czech Republic is expecting a strong close to 2024. The total transaction volume for the first three quarters of 2024 has reached €1.09 billion. 

PSN has obtained the approval for building use of the Skyline project in Prague's Chodov with small residential units. The project has been developed as the reconstruction of a part of the Top Hotel. 

The Prague Development Company (PDS) has submitted a regular market valuation of its real estate portfolio in Prague of 757,000 sqm of urban land intended primarily for residential construction. 

According to Savills European Office Occupancy Rates Report, Prague has, for the first time since the pandemic, surpassed the 60% threshold for physical office occupancy, reaching 61% in October this year.

This year the Polish investment market has been dominated by two strong foreign players, coming from the UK and the Czech Republic. Investors from the latter country are increasingly and more generously placing capital in the Polish property market. The growth over the last two years has been impressive, comments Szymon Mojzesowicz, a Polish real estate market expert.

PSN has received the building use permit for the Ahoj Vanguard residential project in Prague's Modřany. The last units are currently available for purchase. The new owners are moving in at the beginning of 2025.

The investment group Českomoravská Nemovitostní (ČMN) has announced the appointment of Iveta Valentová as the new Head of Property. Iveta is bringing to ČMN experience and knowledge in real estate management acquired during her 11 years at CBRE.

GARBE Industrial Real Estate CEE has received a building permit for two industrial premises in Pohořelice, 30 km south of Brno. The construction of the two halls is starting almost immediately and to be available for the tenants within eight months.