Zeitgeist Asset Management has obtained tenants for their building in the historical centre of Prague. The international law firm CMS and the European Investment Bank (EIB) have rented office space in the newly renovated Palác Dunaj building on Národní třída in Prague.

The AFI City 1 office building in Prague´s Vysočany has reached full occupancy with the arrival of new tenants. Logistic company Hegelmann Transporte is planning to relocate its domestic headquarters here.

UBM Development Czechia announced a significant milestone in sustainable construction in the Czech Republic, allowing the construction of wooden buildings up to 22.5 meters using the engineering method.

CTP has signed three key ten-year leases in its most sustainable industrial park near Prague, comprising more than 60% of a new 32,000 sqm building that will be delivered by the end of Q2 2024 at CTPark Prague North.

CPI Property Group has completed the sale of a few assets across Europe to third parties.

CTP has signed a lease agreement with Heimstaden, the provider of rental housing in the Czech Republic, for almost 3,500 sqm of office space at IQ Ostrava. 

The S3 hall in P3 Ostrava Central has been leased to retailer Bezvapostele.cz. The company is planning to operate a sales warehouse in the building from August 2024.

Industrial demand has shifted from logistics service providers to manufacturing companies. CBRE is reporting a year-on-year increase of 22 percentage points to a 53% share of total demand in the Czech Republic.

Higher borrowing costs and the price gap between buyers' and sellers' expectations are some of the reasons why transaction volumes are significantly below the 10-year average level of ca. €10 billion. This is according to a commercial real estate investment volumes survey by Colliers presented at a February meeting of Czech and Slovak investors and other financial experts.

Although office leasing opportunities are already very limited in Prague, the good news is that Colliers' survey has reported rather stable rental prices throughout the last year.