ARTICLES LABELLED WITH TAG Prague

The beginning of Q1 2022 has brought record numbers. €898 million was invested into Czech real estate assets in Q1 2022, demonstrating a 210% year-on-year increase. Without the c. €1.3 billion Residomo transaction which was closed in Q1 2020, this quarter's investment volume would be the highest since Q1 2019, Savills' latest research shows.

Work has been underway for more than ten years on a major planning document for Prague - the new zoning plan. Its elaboration has cost the capital city CZK 135 million so far, while the assessment and elaboration of changes cost CZK 181 million. According to the city's statistics, 367 amendments are submitted annually, a number that the new metropolitan plan should significantly reduce. The new plan is also expected to unlock up to 15 areas where there is currently a building closure. If the metropolitan plan is approved as proposed, it could begin to take effect as early as 2023 and could unlock the construction of up to 150,000 new flats. The public now has 66 days to comment on the plan, local daily E15.cz reports.

Hundreds of flats are to be built in Prague by RSBC Group. The company wants to implement a CZK 1 billion project in Prague's Vysočany district to convert an old vacuum cleaner factory into 243 apartments. RSBC is going into the project with developer Masák & Partner, online daily E15.cz reports.

Passerinvest Group a.s. has entered into an off-market agreement with the investor Simona Otavova for the purchase of the building housing the general headquarters of the state-funded organization Road and Motorway Directorate of the Czech Republic (Ředitelství silnic a dálnic ČR – ŘSD). The value of the transaction was not disclosed. The change of ownership was announced today by Passerinvest.

According to the land registry, Microsoft has acquired a large seven-hectare plot of land in Prague's Klíčov district from CPI Property Group. The price of the transaction is CZK 1.5 billion, according to the purchase contract filed with the land registry, reports Seznamzpravy.cz.

500 flats will be built on the site of a medical device factory. This is what the KKCG group is announcing after its move to a two-and-a-half-hectare brownfield site in Modřany, Prague. The new acquisition was reported by the daily E15.

The Prague Public Transport Company (DPP) has signed an agreement with investors from CPI Property Group and Karlín Group and together they will build the Nové Holešovice district in Prague 7. Information about the billion-dollar project was reported by the daily E15. 

The Prague office building Parkview currently owned by Deka Immobilien is now 100% leased. The nine-story building developed and finished in 2020 by Skanska in the Pankrác district will house the software company JetSoft and the research technology company Lucid, Skanska, the original developer of the building, announced today.

Prime rent in the first quarter of 2022 increased again and is in the range of €24.00-24.50 per sqm per month in the city centre. In addition to rents, rising construction prices are still reflected in offers of allowances for office build-outs or other incentives. The Prague Research Forum published the office market figures for Q1 2022.

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.