ARTICLES LABELLED WITH TAG Prague

Prague's Arkády Pankrác shopping centre is changing hands. The Czech real estate fund Trigea is buying it from the Israeli company G City for €265 million, according to information from Trinity Bank, newstream.cz reports.

As it was unofficially confirmed last month, Sekyra Group has agreed with Dostupné bydlení České spořitelny and the insurance company Kooperativa on the sale of the Opatov II residential project in Prague 11. This is one of the largest build-to-rent (BTR) transactions in the Czech Republic, Sekyra Group announced. The price of the transaction was not disclosed. 

One year after construction began, the rough construction of one of the future A1 office building in Prague's Rohan City project has been completed. Upon completion, the building will house the headquarters of Sekyra Group, the developer of the Rohan City project, among others. It is being built on a brownfield site on Rohanský island in Prague 8, which has been unused for many years.

YIT is the new owner of the Kuta Centrum office complex in Prague 4. In the future, the complex, renamed YIT Office Centrum, should be transformed into a residential complex, the CEO of YIT told online daily newstream.cz.

The latest plan by the Czech Ministry of Regional Development is to increase the parking capacity of new projects and tighten conditions for developers. It has presented its proposal to adjust the conditions for building parking in the Czech Republic, which experts say will increase housing prices, according to the online daily Seznamzprávy.cz.

Správa železnic (Railway Administration) has announced a tender for a contractor who will reconstruct Prague's oldest train station - Masarykovo nádraží - for CZK 3.2 billion (€134.6 million). The idea of the authority is that the contractor should be able to connect the historical spaces with contemporary architecture and at the same time that the comfort for passengers and trains should be significantly increased, according to the report by the Správa železnic.

Stefan de Goeij is joining the Cushman & Wakefield ESG team as a Partner. The sustainability and property management professional will lead the CEE team as Head of Sustainability & ESG as of July 2023.

UBM Development Czechia has successfully completed the rough construction of the Astrid Garden residential project in Prague 7 - Holešovice, where 138 apartments and two commercial units are being built. Construction of Astrid Garden has been underway since November 2021 and is scheduled for completion in the second half of 2024. The sale of the project, designed by renowned architectural studio Bogle Architects, is being handled exclusively by the real estate agency Lexxus Norton. 

Accolade Group has announced the acquisition of a majority stake in the Karlovarská Business Park complex near Prague Airport from Czech real estate fund Conseq realitní. Accolade is now 100% the owner of this complex. Both parties have decided not to disclose the amount of the transaction, which was brokered by CBRE.

Skanska has launched the sale of the second phase of Modřanský cukrovar, which will offer 126 apartments in four residential sections. The developer is applying sustainability principles in the construction and the planned construction of the apartment buildings is approaching the passive standard in the highest PENB energy performance category - A. Each apartment will already draw energy from photovoltaic panels on the roof and will be able to use recycled water. The developer expects to start construction this winter with completion expected in 2025.