ARTICLES LABELLED WITH TAG Prague

Hines Global Income Trust has acquired Eastgate Park. This property is the 17th industrial asset in the Hines Global portfolio and is 99% leased.

In October 2021, Hotel Astral became the second hotel in Fidurock's residential portfolio. On an area of ​​2,689 sqm, it offers its visitors a total of 60 comfortably furnished rooms, a modern conference room with a capacity of up to 100 seats and a summer terrace for quiet outdoor seating.  

Local investor Českomoravská Nemovitostní has expanded its portfolio with three properties in Prague's Karlín district with a total area of more than 30,000 sqm. The company bought the Zirkon, Apeiron (Ruby) and Corso Karlín office buildings.

CA Immo records strong tenant demand for its Prague office buildings. With two new leases signed in the newly built Mississippi House and Missouri Park office buildings in the River City Prague campus, only 40% of the office space in these buildings remains available – and letters of intent have been signed with three additional tenants who will potentially lease another 30% of the total office space.

From August 2021, KGAL GmbH & Co. KG, a leading independent  European investment and asset manager based in Germany, has appointed Savills as property manager for Prague’s DRN building. Savills also continues to provide asset management services for the building, which it has been providing since July 2020.

Colliers Czech Republic has announced five new appointments in the Office Agency, two in Valuations and one in the Real Estate Management Services (REMS), Capital Markets and Market Research departments, as the company further continues its strategic growth plan to strengthen its business across all real estate segments in the Czech Republic to cope with the clients and market needs.

Czech investment group RSBC is acquiring an office building in Prague's Michle district from CPI Property Group. The building, located next to the BB Centrum complex, houses the headquarters of energy company ČEZ, business daily Hospodářské noviny reports.

In the first half of 2021, tenants leased over 1.1 million sqm of modern office space across the capitals of the 15 CEE countries. The highest level of activity was recorded in Warsaw (249,300 sqm), followed by Prague and Budapest. The Business Services Sector continues to generate a great deal of demand and occupier activity and is one of the largest employment sectors in the region according to the “ExCEEding Borders - Office Markets & Business Services in CEE-15” report just released by Colliers.

Local developer Crestyl plans to build six office buildings as part of the new Prague district Hagibor in the vicinity of Želivského metro station. The construction of the first phase, in which EP Real Estate is also involved, will start this year. Crestyl is also gradually building five residential buildings on the site. The cost of the entire project will exceed €350 million (CZK 9 billion), local daily E15 reports.

AFI Europe has completed the shell of the fifth and final phase of the Tulipa Třebešín residential project which is intended purely for rental housing and completes a large-scale development on a 5-hectare urban brownfield site in Prague 3 - Strašnice. The building will offer a total of 61 residential units with an expected completion date of Q3 2022. The general contractor is Imos Brno. AFI Europe's total investment in Phase 5 will exceed CZK 250 million.