ARTICLES LABELLED WITH TAG Czech Republic

Private investment company Cimex Group has appointed Savills as property and leasing manager for its portfolio of twelve properties – ten in Prague, one in Plzen and one in Karlovy Vary – in the Czech Republic, starting August 2020. The total floor area of the buildings is more than 100,000 sqm and the portfolio currently provides premises for more than 500 tenants.

A planning permit has been issued for Penta Real Estate’s The Residence Nuselský Pivovar development in Prague’s Nusle district. As part of the €77 million (CZK 2 billion) project, the developer will build 450 residential units on the site a historic brewery.

CTP will modernise the Spielberk office complex near the Brno city centre. The aim is to lower energy consumption and ultimately reduce the carbon footprint of the site. CTP is investing almost €1.5 million (CZK 40 million) into modernising the energy system.

108 Agency is expanding into the Hungarian market. The company has now started its operations by cooperating with three local professionals István Fazekas, Marcell Szotyori-Nagy and László Kemenes who have many years of experience in commercial real estate.

Local developer Crestyl Group has completed the fourth office building in its Dock district development project, located in Prague’s Palmovka area.

During Q2 2020, gross take-up, which includes renegotiations, reached 360,500 sqm showing a slight increase of 13% compared to Q1 2020 figures. In comparison to the same period of the previous year, gross take-up decreased by 14%. The Industrial Research Forum published its Q2 2020 figures for the industrial market in the Czech Republic.

From July 2020, KGAL Investment Management Group GmbH, based in Germany, has appointed Savills as local asset manager for DRN, an office complex on Národní St., Prague 1.

XLMX obchodní s.r.o. has leased 16,000 sqm of warehouse space in ctPark Prague East in Nupaky with a view to setting up a regional warehouse for XXXLutz.

Skanska plans to build the first climate-neutral office building in the CEE region. The developer is going to use a solution based on structural timber, as wood is a natural resource that will help reduce the carbon footprint. Construction works on the office building located on Radlická Street in Prague are planned to begin in 2023. Skanska has made a global commitment through a climate target of net-zero carbon emissions by 2045, with a 50% reduction by 2030.

The Czech Republic came within the top ten countries around the world again this year in Cushman & Wakefield’s annual ranking based on the criteria such as operating costs including labour and the rate of economic and political risk. The country has regularly ranked among the best destination for manufacturers seeking to locate their operations since 2016 when it was included in the chart for the first time. The ability to bounce back after the coronavirus crisis was rated for the first time this year and the Czech Republic succeeded in this respect as well.