ARTICLES LABELLED WITH TAG Prague

Penta Group has expanded its real estate portfolio in the centre of Prague by another building. In an e-auction, Penta was the only bidder to acquire the former post office building at Masaryk railway station in Hybernská Street for a bid price of CZK 220 million. Now the contract will be signed and the price will be paid. Both parties to the transaction have confirmed it to the Czech Press Agency.

Developer AFI Europe has announced the completion of the Tulipa residential project on a five-hectare brownfield site in Prague 3 Strašnice. This latest, fifth phase with an eight-storey apartment building cost the developer more than CZK 250 million and will be the only one dedicated exclusively to rental housing with 61 apartments.

The Czech Social Democratic Party (ČSSD) has agreed to sell the Lannův palác in the centre of Prague to the building's main tenant, local real estate developer Finep, for CZK 201 million. The party wants to use the proceeds to pay off its debts, novinky.cz reports.

The real estate fund NEMO, founded by the real estate group Českomoravská Nemovitostní three years ago, enlarged its portfolio to a total value of over CZK 3 billion. The new acquisition is the Corso Karlín office complex in Prague 8, the fund announced today.

The Dům Radost project in Prague 3 in Žižkov, where SIKO Group as the new owner plans six hundred rental apartments, is one step closer to realisation. The Ministry of Culture has stopped a review procedure that could have seriously complicated the project for the owners, writes Seznamzprávy.cz.

The Julius Meinl family has opened a new hospitality project in Prague with 168 accommodation units. Designed by architecture and design firm Matteo Thun & Partners, The Julius Prague has been created to cater for both short and long-term stays. Spacious communal areas, relaxing lounges and professional co-working spaces enable guests to network, meet like-minded people or unplug.

Massive construction worth billions of crowns is being prepared around the route of the new D metro line, which is currently under construction in Prague. The company Reflecta Development will build buildings with apartments and offices on lucrative land near the Thomayer Hospital for restituents, reports the daily E15.cz.

Skanska will invest CZK 970 million in the first phase of the brownfield residential project Modřanský cukrovar. On the right bank of the river Vltava, 112 apartments and seven commercial premises within the area of 10,500 sqm will be built. After six phases of the project, there will be 797 housing units, Skanska announced on its website. 

CEE-based flex office provider New Work has opened a new location in Prague. New Work Smichov Business Park offers fully furbished office space with up to 245 workstations in one of Prague’s most lively areas, with many offices and an outside terrace overlooking the Vyšehrad castle as well as beautiful green areas along the Vltava River.

This year CA Immo has already closed 18 lease transactions in total in Prague. These are mostly new leases and expansions with an office space of almost 16,200 sqm. Also, both new office buildings Mississippi House and Missouri Park, which have been completed in summer of 2021, are fully let now.