ARTICLES LABELLED WITH TAG development

The Czech patent and pins factory owned by Koh-i-Noor Waldes is moving out of Prague after 120 years. Due to the merge with Massag factory the company is heading to Bílovec now. The current owner Pražská správa nemovitostí (PSN) plans to transform the historical factory buildings in the Prague Vršovice complex into a multifunctional project with 550 modern apartments and shops, e15.cz reports.

CTP has completed the takeover and delisting offer for Deutsche Industrie REIT-AG (DIR), which provides immediate scale in Europe’s largest economy. Germany now represents about 15% of CTP’s portfolio and becomes its third-largest market by gross asset value after the Czech Republic (42%) and Romania (21%).

AFI Europe has taken stock of the results for 2021, a year in which it has been fully committed to implementing its new corporate strategy focused exclusively on rental housing. The company is currently constructing four buildings in three residential projects in Prague. It plans to complete the larger part of them this year.

A new development division of the Lekvi Group plans to build fifteen new retail parks in the region within five years. So far, this group of investors from the countries of the former Soviet Union has focused on the sale of apartments but now sees potential in retail parks in the Czech and Slovak Republics. The planned projects should cost CZK 1 billion, E15 reports.

In the Czech Republic, modular construction has often been used in prefabricated houses in the past. Now, developer YIT is coming up with prefabricated parts in the new residential project Lappi Hloubětín in Prague. Further use of the modules is planned in the Vesi Hostivař project, e15.cz reports.

Czech investment group RSJ and developer Panattoni have agreed on the construction of a new industrial park outside the city of Hradec Kralové. The 35,000 sqm warehouse will be located at one of the exits of the D11 motorway.

Living, an umbrella brand of Wing specialising in residential properties, has completed the first phase of its Park West project offering 229 apartments in District 13 of Budapest. About 700 apartments will be constructed in the residential development project to be carried out in three phases.

Prologis has acquired additional development land near its existing logistics park in Ostredek, Czech Republic. Located on the other side of the highway running through the site, the addition of another 7.15 hectares with potential development space of 27,000 sqm will take the total park area to 196,000 sqm. This will allow the park to provide even more development opportunities beyond the 8,880 sqm building DC1 currently under construction.

Czech-Dutch investment company Fidurock has commenced the construction of the second phase of the Staré Město retail park project. The extension will expand the current 4,100 sqm building with 500 sqm.

The first phase of the Corvin Innovation Campus, with almost 17,200 sqm of office space, has reached its highest point. Developed by Futureal and located in the immediate vicinity of Corvin Promenade in Budapest, the first phase of the 30,000 sqm complex is expected to be completed by the end of 2022, while the second phase is scheduled for completion in Q4 2023.