ARTICLES LABELLED WITH TAG Czech Republic

UBM Development Czechia has completed the rough construction of the Timber Prague project of wooden apartment buildings, which are being built as part of the Arcus City residential complex in Prague-Reporyje. These modern chamber buildings made of solid CLT panels express the first multi-storey apartment buildings made of wood in the modern history of the capital city. They comprise a total of 62 units with layouts from 1 + kk to 4 + kk, ranging in size from 39 sqm to 110 sqm and each of them has its own cellar, parking space in the underground garages and a balcony, terrace or front garden. To date, a quarter of the apartments have been sold. The project is being built to BREEAM Excellent standard.

České dráhy (ČD) sold the remaining part of the land at the Smíchov railway station in Prague for just under CZK 2 billion (€82 million). Over 126,000 sqm of land will be bought by the Sekyra Group. According to the Czech news agency (ČTK) Czech Railways said that it had received a total of CZK 2.4 billion (almost €98.6 million) for the Smíchov land. A new district of Smíchov City is to be built on the land.

Shape Corp. started production in a new 36,400 sqm hall in Pilsen. The industrial complex, built by Panattoni, was created on the brownfield site of the coal mines. Shape Corp. moved here from the Borská pole site to expand its production capacity. Up to 700 employees will work in the new facility. 

State-owned Czech Post (Česká pošta) has sold three unneeded properties in Prague's Krč district in an electronic auction. Together they will fetch almost CZK 400 million (€16.4 million). The winner must pay the price within 30 days, writes E15.cz.

Thirty interested parties are bidding for the Jindřiška Tower in the centre of Prague, which was offered for sale by the Prague Archbishopric at the end of last year. The Prague City Council has also submitted an offer. The price is expected to be €4.09 million. The archbishopric also decided to sell the Clara Futura hotel in Dolní Břežany for €12.6 million to the investment fund Investika, writes the Czech Press Agency ČTK.

There are currently more than 56,000 sqm of office space in Prague available for immediate occupation. These are mainly office spaces that have been vacated by their previous tenants due to relocation to new premises or downsizing because of the transition to a hybrid office model. Companies that want to get up and running quickly in their new offices and make substantial savings on the capital costs required for fit-out have plenty to choose from. This secondary supply is a good complement to the shortage of available office space in new buildings that Prague is currently facing, according to the Cushman & Wakefield report.

A new generous public space has been created on the banks of the Vltava River in Karlin, easily accessible from Holešovice thanks to the HolKa footbridge. The entire area managed by CA Immo is now called Riverside Karlín. Since September, a new kindergarten has been open there, which is also accessible to families from the surrounding area, and the developer is preparing other services that have been lacking in the locality so far. The River Rink, which has been transformed from an ice rink into a place where other cultural and sporting activities take place, is already open all year round. 

The construction of the seven-storey Roztyly Plaza office building in Prague 11 has reached its final stage. Passerinvest is finishing its cladding, internal installations and landscaping. It is expected to be completed in early 2024.

While net industrial take-up is down compared to 12-18 months ago, we are seeing a large uptick in enquiries across CEE for strategic production spaces across the automotive, pharmaceuticals, and electric vehicle battery production sectors. James Fitzgerald, Director, Head of Industrial Agency at iO Partners Czechia talked to Property Forum about the main drivers of the CEE industrial market.

In September, Czech developer UDI Group started selling apartments in its first project overseas. The group not only handles the entire sales transaction for the apartments but also the follow-up servicing or leasing. Construction of the 15-storey condominium in the financial district of Panama City's capital is expected to be completed in 2026.