ARTICLES LABELLED WITH TAG Czech Republic

CTP has changed the structure of its finance department. The company is responding to the success of CTP B.V.’s debut green bonds issue and the shift towards bonds as a means of financing of the CTP Group. A new position of CTP Group Treasurer has therefore been created. The position has been taken up by Zdeněk Raus.

Mint Investments has established a new real estate fund which will target people interested in investing in the resi-for-rent sector. MINT rezidenční fond SICAV plans to acquire rental residential buildings in large Czech cities, mainly in Prague and Brno. The fund completed its first €19 million (CZK 500 million) acquisition in the country’s second-largest city – Mint Living Brno Campus comprises 120 apartments as well as office and retail space.

Global logistics company Hellmann Worldwide Logistics is strengthening its position in the Czech Republic. At one of the largest industrial parks in the country, CTPark Bor, the company is expanding its total warehouse space. Besides the existing 20,000 sqm site that Hellmann currently operates, an additional area of almost 12,000 sqm will be added by the end of the year. Hellmann uses the CTPark Bor for worldwide distribution but with a strong focus on the German market.

Arcadis, an international consultancy company focused on building industry, environment and sustainable growth, summarised the current development on the Czech industrial property market in the context of the second wave of coronavirus pandemic.

Seven experts discussed investment and financing strategies for the new normal at the online edition of Prague Property Forum 2020. How has the investment market changed in the last 6-8 months? What major changes have been observed in investment and financing preferences? We summarised the highlights of the discussion, moderated by Luke Dawson (Colliers International).

J&T INVESTMENTS SICAV, a fund created by the J&T financial group, has invested in logistics facilities in the Pardubice region. The complexes, which were built in 2009-2012, offer 35,000 square meters of warehouse space and are long-term leased to quality tenants.

During Q3 2020, gross take-up on the Czech industrial market reached 289,400 sqm which is a decrease of 21% year-on-year. Still, the vacancy rate decreased over the quarter. The Industrial Research Forum announced the industrial market figures for Q3 2020.

While in Poland over 20% of investors are favouring projects that have high ESG-related ratings (which is fourth highest figure globally), Hungary and the Czech Republic are the two countries with the highest share (over 40%) of respondents saying that ESG considerations play no role when they evaluate projects, according to the latest results of the RICS Global Commercial Property Monitor.

According to the latest Savills research, Prague’s office real estate market is fairly priced despite some minor outward prime yield movement during the first half of the year. This broader continent-wide outward yield movement has helped push the average yield spread between prime European offices and Eurozone government bonds to 325 basis points, more than 100 bps above the historic average.

P3 has signed an agreement with Vítkovice, a.s. and VTK NCA a.s. to buy 40 hectares of land in the Vítkovice area in Ostrava. Formerly known as Aglomerace, the area will be used by P3 to build an industrial and commercial district that will include production and storage warehouses, stores, showrooms, offices, and various other facilities. The overall design of the complex is being prepared in cooperation with architect David Kotek from the Ostrava-based Projektstudio.