500 flats will be built on the site of a medical device factory. This is what the KKCG group is announcing after its move to a two-and-a-half-hectare brownfield site in Modřany, Prague. The new acquisition was reported by the daily E15.

The Prague Public Transport Company (DPP) has signed an agreement with investors from CPI Property Group and Karlín Group and together they will build the Nové Holešovice district in Prague 7. Information about the billion-dollar project was reported by the daily E15. 

The Prague office building Parkview currently owned by Deka Immobilien is now 100% leased. The nine-story building developed and finished in 2020 by Skanska in the Pankrác district will house the software company JetSoft and the research technology company Lucid, Skanska, the original developer of the building, announced today.

Prime rent in the first quarter of 2022 increased again and is in the range of €24.00-24.50 per sqm per month in the city centre. In addition to rents, rising construction prices are still reflected in offers of allowances for office build-outs or other incentives. The Prague Research Forum published the office market figures for Q1 2022.

The residential development market in the Czech Republic will be expanded by a new grouping of PPF and Karlín Group. Together, they will build residential projects in Holešovice and Libeň in Prague with a total investment value of CZK 4 billion, the company PPF announced. 

The Prague City Council plans to start building hundreds of council flats for rent in the coming years. The municipality wants to address the deepening housing affordability crisis in this way, E15.cz reports.

CPI Property Group plans to offer over two thousand new apartments on the Prague residential market this year. The developer wants to start the construction in three locations - Vysočany, Žižkov and Zahradní Městě, local daily E15 reports.

The Andaz Prague hotel, which was developed by UBM Development, has officially opened. It took the real estate development company two-and-a-half years to transform the neo-classical landmarked Sugar Palace into an Andaz-brand lifestyle luxury hotel.

JRD is starting the construction of its next Prague residential project. The Vital Kamýk project is expected to be built in Prague 12 within two years. JRD announced the laying of the foundation stone of the residential project and the start of construction in a press release.

H2 2021 saw the highest number of newly commenced apartment constructions in Prague since 2008. The total number of apartments under construction rose to 12,630 units at the end of H2 2021. At the same time, the number of new apartments delivered was the weakest annual result since 2011 as only 3,700 apartments were completed. Still, the interest in buying flats was record-breaking, the best since 2016 and 22% above the 5-year average, says JLL in its Prague residential market report.