ARTICLES LABELLED WITH TAG Prague

PPF Real Estate Holding has agreed to acquire, for an undisclosed amount, Hilton Prague, a landmark hotel in the Czech capital, from Quinn Group Luxembourg Hotels, represented by the Irish Bank Resolution Corporation.

Investment groups SPM and SCF have become the new owners of the Prague office centre Palác Křižík. Both entities have acquired it from the previous owner, the Generali group. 

The investment group Českomoravská Nemovitostní (ČMN) together with the NEMO fund have completed the acquisition of a portfolio from the real estate fund NOVA Real Estate worth approximately CZK 5 billion (€199 million). 

According to Savills research, European retail investment volumes reached €19 billion for Q1 to Q3 2024, marking a 6% increase compared to the same period last year. Luxury high street yields are the most favourable among retail investment properties.

The Hilton hotel in Prague, in which former US President Barack Obama or his predecessors Bill Clinton and George W. Bush have stayed, is being sold by IBRC, the investment structure of the Irish bank NAMA, dealing with debt settlement, reports E15.cz. At the same time, the domestic business elite has been competing with multinational investment capital for the largest Czech hotel.

Only one new office building has been completed in Prague in Q3 of 2024. On the other side, efforts to upgrade some older properties have continued either on an ongoing basis or by temporarily taking them off the market, according to a survey prepared by Colliers. 

According to the 2024 European Purpose-Built Student Accommodation (PBSA) Investment Barometer, conducted by The Class Foundation and Savills, involving investors and operators with portfolios totalling over 132,000 beds across Europe, with an asset value of c.€25.3 billion, respondents expect to increase the number of beds they have by 70% over the next 2-5 years. 

The new Roztyly Plaza office building in Prague 4 has become the headquarters of the automotive company Volvo Car Czech Republic and TSC Spectre. The developer and investor of the project is Passerinvest Group.

The location of Kyje-Hutě on the outskirts of Prague is subject to expansion in the future with a new housing development, a primary school and two kindergartens, a bus line and other infrastructure. 

Red Bull has become a new tenant in the Churchill Square II office complex, which is managed by the investment group Českomoravská Nemovitostní (ČMN).