The Office for the Protection of Competition in the Czech Republic has approved the merger of PPF Real Estate, a competitor, with Diplomat Prague RE and the company Hotels by HR Diplomat. 

Czech lucrative properties such as hotels, offices, and shopping centres are now heading into the hands of domestic investors. On the other side, foreign investors are gradually leaving the market, reports seznamzpravy.cz.

Czech companies Nordic Investors and PPF are planning to jointly invest in real estate by mutual acquisition of their stakes, reports seznamzpravy.cz.

CBRE has advised on the sale of the Hilton Prague for the Irish Bank Resolution Corporation, marking the largest single-asset hotel transaction ever recorded in CEE. Czech group PPF has purchased the asset.

Czech BHM group continues its purchases in Slovakia. This time, according to Seznamzpravy.cz, the holding bought a logistics and production complex called Trenčín Industrial Park used by automotive suppliers. The group did not publish the price of the transaction. 

PPF Real Estate’s two office buildings in central Bucharest, Crystal Tower and Metropolis, are now running partially on solar power following the installation of photovoltaic panels on their rooftops. 

PPF continues to divest its Russian portfolio. It has completed the sale of its 60 percent majority stake in the giant South Gate logistics centre near Moscow. The deal is said to be the largest of its kind in a decade, Russian news server Metalinfo.ru reports, cited by Czech daily E15.cz.

PPF Real Estate has announced the launch of the first stage of the ARC office project in Bucharest by clearing the existing structures on the site. The planned ten-story class A office building is due for completion in 2025.  

PPF Real Estate has teamed up with US developer Aventon Companies to enter the US residential market. Together they will build a residential complex with more than 300 residential units in Orlando, Florida by 2023. PPF intends to replicate this model of cooperation in other projects in the US, the company announced.

The residential development market in the Czech Republic will be expanded by a new grouping of PPF and Karlín Group. Together, they will build residential projects in Holešovice and Libeň in Prague with a total investment value of CZK 4 billion, the company PPF announced.