Accor expands its portfolio in the Czech Republic and Central Europe. The hospitality group signed a franchise agreement with Fardela Solutions for a new Mövenpick hotel in the country. The new hotel project of will be located in Čeladná, in the Moravian-Silesian Region of the Czech Republic and will welcome its first guests in 2026.

The Lastavice development project in Belgrade, Serbia, has just completed its rough construction. The first building of the project, which will offer almost 500 flats and require an investment of more than CZK 2 billion (€84 million), will be completed by the Czech developer UDI Group in spring 2024, while the construction of the second of the project's two buildings will begin at that time.

The period of stagnation and waiting on the Prague residential market is over. Along with the spring came a revival in the Prague housing market. The demand is rising, and interest in buying and renting is also growing, according to the latest Knight Frank report.

The investment panel at Prague Property Forum 2023 focused on investment opportunities and financing. While banks emphasized that they are ready to lend money, perhaps more cautiously, investors talked more about waiting for the right moment when investment opportunities appear. The great potential of the Czech market is mainly in the local money and local investors, which gives the market stability, participants agreed.

The uncertainty that prevailed in the Czech commercial real estate market in the second half of 2022 has been reflected in Q1 2023. Although the market is already calmer, according to Colliers' experts, it is still awaiting a relatively long period of stabilization.

The planned Highest Construction Office (Nejvyšší stavební úřad) and the system of regional construction offices subordinate to it will not be established in the Czech Republic. The construction authorities will remain within the municipalities, the Czech News Agency (ČTK) reports.

The Czech industrial and logistics market reached the 11 million sqm mark at the end of the first quarter of 2023. It has grown by more than 1 million sqm over the past 12 months. During Q1 2023, a total of 217,900 sqm of new industrial space was completed, representing an increase of 25 % quarter-on-quarter (Q4 2022 vs. Q1 2023). Approximately 1.23 million sqm of industrial space is currently under construction, 34 % of which is being built on a speculative basis. Despite the high volume of new completions, the vacancy rate remains low, at the level of 1.4 %, JLL reports.

Penta Real Estate is finishing the construction of the new Motel One hotel in the centre of Prague near Masaryk railway station. According to the development company, the total investment in the hotel, which will be part of the Cloud One Line chain, came to CZK 1.2 billion (€51.2 million) over six years of preparation and construction. The hotel is scheduled to open in the spring of 2024.

A fund of the Generali insurance holding has sold a set of properties in the centre of Prague. The new owners of the individual houses are two companies, a manufacturer of sanitary equipment and a developer. All parties refused to comment on the transactions in detail, writes the online daily Seznamzpravy.cz.

As a result of a legal dispute between real estate tycoon Radovan Vítek's CPI Property Group and businessmen Marek Čmejla and Jiří Diviš, a Cypriot court has reportedly ordered banks to freeze CPI Property Group's assets worth almost CZK 13 billion (€553 million), according to the German economic newspaper Handelsblatt, cited by the Czech daily Hn.cz. CPIPG, however, denies the German newspaper's information, saying that the interim measure is not in force and that no accounts have been seized or assets were frozen.