ARTICLES LABELLED WITH TAG Prague

12
Jan
2022

B+N to provide cleaning services for Prague’s airport

by Property Forum
B+N Referencia Zrt, as the winner of a tender announced last year, has been awarded with a contract for the provision of cleaning services at the Václav Havel Airport in Prague for another 4 years, starting on 1st January 2022. There were another 12 competitor in the tender, B+N was the only Hungarian headquaterd company.
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11
Jan
2022

CTP appoints Group Head of Client Relations

by Property Forum
CTP has appointed Harry Bannatyne as Group Head of Client Relations based in the company’s headquarters in Prague. Bannatyne was previously a Partner and Regional Director Industrial at Colliers in the Czech capital. Prior to that he was National Director, Head of Industrial Agency for the Czech Republic and Slovakia at JLL.
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10
Jan
2022

AFI Europe completes construction of Prague apartment building

by Property Forum
AFI Europe has completed the rough construction of an apartment building in the newly built AFI City district in Prague 9 - Vysočany. A total of 640 apartments are being built on a brownfield site near the Kolbenova metro station, exclusively for rental housing in two separate buildings, which will also include commercial space for shops, services and a restaurant. The construction of the first of them, with 313 units, has just moved towards completion and is successfully heading towards completion in Q4 2022.
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10
Jan
2022

Garbe sets up European residential fund, targeting CEE too

by Property Forum
Garbe Institutional Capital has launched a pan-European residential real estate fund with a total target investment volume (GAV) of around €800 million. The Garbe European Residential Fund (Garbe EUResi) invests in real estate developments and selectively also in properties undergoing energy rehabilitation. The investment strategy follows a "boots on the ground" approach: the fund only invests in locations where Garbe can act as a local investor through a local presence. The fund’s launch is a milestone in Garbe Institutional Capital’s move to expand into a European residential real estate platform. Garbe EUResi has already received equity commitments of €82.5 million.
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05
Jan
2022

UBM secures occupancy permit for Hotel Andaz Prague

by Property Forum
UBM Development Czechia has completed the reconstruction of the more than 100-year-old former Cukrovarnicky Palace on Senovážné Square in the centre of Prague. The 176-room five-star Andaz Prague hotel will open in the historic building, marking the Hyatt chain’s entry into the Czech Republic. The hotel will be put into trial operation in early 2022.
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13
Dec
2021

Prague offices to see slight increase in take-up and rents in 2022

by Property Forum
The office market is changing due to the coronavirus pandemic, albeit not as dramatically as initially expected. Offices as a concept are definitely not over and working from home is not becoming a lasting standard – it has been confirmed that it has its limitations and that personal contact is irreplaceable. A hybrid model, combining working in the office and at home, will likely be more common. Office space take-up is still below the pre-crisis figures, but the activity on the market has been growing recently. For the time being, the growth has not been enough to justify the growth in rental prices that would be necessary due to an increase in construction material prices, but both can be expected to grow in the future. The crisis has halted the progress of some schemes, so we will not see a major increase in new office stock before 2023. This could result in demand overhang, and thus in increased rents in the years to come, according to Cushman & Wakefield.
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29
Nov
2021

Investors are crazy about logistics, worry about inflation

by Ákos Budai
Investment market experts in the Czech Republic are concerned about the potential effects of high inflation and rising interest rates on the market. At the same time, they remain highly optimistic about the future of logistics and keep ESG at the top of their agenda, according to a recent panel discussion at Prague Property Forum 2021, moderated by Jaroslav Kaizr MRICS, Expert Director of the MBARE programme at VŠE.
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09
Nov
2021

Passerinvest Group begins construction of Prague office building

by Property Forum
Passerinvest Group has begun the construction of the new Roztyly Plaza office building. The building, with a total area of 23,000 sqm from the workshop of the architect studio Aulík Fišer architekti, is going up right by the Roztyly metro station (C line) in Prague 11. Apart from the office function, the project also offers a public P+R parking lot and several retail units, which will significantly expand the local civic amenities.
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08
Nov
2021

Prague’s hotel market remains in a though spot

by Property Forum
Occupancy rates in Prague’s hotels were 50% higher during the summer holidays this year in comparison with last July and August, propelling Prague upwards in the European cities’ chart. Room rates exceeded €64 in the summer, also an improvement over last year. Many hotels worked with an operating profit and the growing number of reservations is also a positive sign. Autumn traditionally brings a drop in tourism and thus in performance – September occupancy rates are still comparable with summer rates and prices are even higher, but there are concerns about another wave of the pandemic and the potential operating restrictions. However, the improved performance in the summer has confirmed again that Prague’s hospitality market has been consistently sought after and popular, and its performance is hindered mostly by external and temporary factors.
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02
Nov
2021

Revetas completes final disposal of €100 million Prague portfolio

by Property Forum
Revetas announced the successful disposal of the remaining assets of its Revetas Capital Fund II’s Project Papa office portfolio in Prague, bringing the total transaction value to over €100 million. One of the four assets initially comprised in the portfolio, BBC Vila, has previously been sold to Passerinvest Group. The three remaining buildings with a total GLA of c. 33,000 sqm are located in close proximity of each other in the Karlin neighbourhood of Prague’s 8th district and were acquired by local real estate group Českomoravská Nemovitostní (ČMN). The terms of the transaction were not disclosed.
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Latest news


New leases

  • FitFabric will open a fitness club in the WIMA Widzewska Manufaktura mixed-use complex, developed by Cavatina Holding on al. Piłsudskiego in Łódź.
  • Stokrotka, Polish grocery chain has leased almost 3,000 sqm (including 125 sqm of office space) in 7R Park Bydgoszcz I warehouse complex.
  • German healthcare services provider doctari group has opened a technology hub in Iulius Town, the mixed-use project based in Timișoara. The company plans to hire 30 tech specialists in the new office.

New appointments

  • Nikola Ristivojevic has started a new position as Director of Capital Markets at Coreside Savills in Serbia. He previously worked as Senior Consultant at CBS International, a member of Cushman & Wakefield Alliance.
  • Victor Răchită has been appointed Leader of the Industrial & Logistics department of real estate consultancy CBRE Romania. He has more than 20 years’ worth of experience in the property industry, working for more than a decade for CBRE.
  • JLL Hungary is launching a business development division in order to maximize synergies between its existing departments and to increase the operational efficiency of its services. The new business unit, responding to rapidly changing market and client needs, will be led by Tamás Pál MRICS, who has more than a decade and a half of experience in the commercial real estate market.


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