CTP has completed two industrial lettings with 12,000 sqm of space at CTP Park Cerhovice. Two speculatively developed sustainable warehouse spaces have been leased to French global automotive supplier Valeo Vymeniky Tepla s.r.o and leading European logistics operator Raben Logistics Czech s.r.o. CTP plans to develop a further 58,000 sqm in this industrial park by the end of 2024, the company announced.

At the beginning of the pandemic, it seemed that many coworking centres or serviced offices could not survive the measures implemented under the Covid-19 pandemic. Shared workspaces, whose philosophy is based on meeting, personal communication, and collaboration, were hit hard by governmental restrictions. But a December analysis by JLL shows promising results; with the retreat of anti-pandemic measures, most coworking and serviced office operators have already felt a new wave of interest, and 2022 has confirmed this trend.

Českomoravská nemovitostní (ČMN), which is half owner of the Churchill Square office complex in Prague, plans to acquire the rest of the property. It plans to buy the property in two transactions, Seznamzpravy.cz reports.

Česká spořitelna has started to build affordable apartments with low rents for employees that cities lack. The first such apartment buildings with 254 flats are already taking shape in Prague 9, built by a subsidiary of the bank DBČS with the developer Finep for CZK 1 billion (€42.7 million). The bank plans to build a total of 1,000 flats by 2026. The bank also wants to cooperate with the Czech government to finance more flats through EU funds and loans from the European Investment Bank, DBČS subsidiary CEO Marek Blaha told the press.

In 1.5 years, 275 modular bathrooms have been installed in YIT apartments in the Czech Republic. The developer is expanding the use of prefabrication to other building elements. By incorporating this technology, the company plans to not only improve the quality of its residential projects but also speed up their implementation. At the same time, it expects to have less demand for labour, which is in short supply. In addition to bathrooms, the developer is now also using modular manufacturing for structural elements. The Czech branch of YIT is following in the footsteps of its parent company in Finland, which has been building in this way since the 1970s, YIT told the press.

Prague's famous brutalist-style Intercontinental Hotel is undergoing a complete renovation. After the reconstruction, the hotel will operate with sustainability principles and will become part of the Fairmont chain, the daily E15.cz reports without mentioning the price of the planned reconstruction.

Amadeus Real Estate in Prague is reconstructing a cultural monument from the 1970s - the OD Máj department store. According to the developer's estimate, the reconstruction, which is being carried out by the construction company Metrostav, will cost CZK 4 billion, i.e. €166.7 million. OD Máj should be reopened within a year and should offer a restaurant with a view in addition to shops and a gallery, reports ČTK.

According to Savills latest research, pricing levels are increasingly attracting North American investors to European real estate. In 2022, North Americans invested more than Europeans cross the border, €48 billion compared to €36.6 billion, which is 31% above the five-year average for the former. In the Czech Republic, investors from North America spent €321 million in 2022 (40% above the five-year average), while European buyers (excluding domestic capital) acquired assets worth €459 million.

UBM Development Czechia is implementing all its current residential projects with BREEAM certifications. This is an ecological certification that confirms the standard of buildings in terms of sustainability and environmental friendliness. With BREEAM certification, UBM is currently building the Arcus City residential complex in the Prague-Reporyje district and the Astrid Garden residential project in Holešovice, Prague 7.

Tomáš Pardubický, CEO of Czech residential development company FINEP has talked to Property Forum about the necessary transformation of the real estate market and shared plans about the company’s expansion in the build-to-rent segment.