Occupancy rates in Prague’s hotels were 50% higher during the summer holidays this year in comparison with last July and August, propelling Prague upwards in the European cities’ chart. Room rates exceeded €64 in the summer, also an improvement over last year. Many hotels worked with an operating profit and the growing number of reservations is also a positive sign. Autumn traditionally brings a drop in tourism and thus in performance – September occupancy rates are still comparable with summer rates and prices are even higher, but there are concerns about another wave of the pandemic and the potential operating restrictions. However, the improved performance in the summer has confirmed again that Prague’s hospitality market has been consistently sought after and popular, and its performance is hindered mostly by external and temporary factors.

Revetas announced the successful disposal of the remaining assets of its Revetas Capital Fund II’s Project Papa office portfolio in Prague, bringing the total transaction value to over €100 million. One of the four assets initially comprised in the portfolio, BBC Vila, has previously been sold to Passerinvest Group. The three remaining buildings with a total GLA of c. 33,000 sqm are located in close proximity of each other in the Karlin neighbourhood of Prague’s 8th district and were acquired by local real estate group Českomoravská Nemovitostní (ČMN). The terms of the transaction were not disclosed.

A consortium of Penta Real Estate, Kaprain Group and Sekyra Group has acquired a land plot of 20,122 sqm from the University of Chemistry and Technology (VŠCHT) in the western part of Vítězné náměstí in Prague 6 for over €39 million (CZK 1 billion), Penta announced in a press release.

Masaryčka and Nová Waltrovka, two office buildings that are currently being developed in Prague by Penta Real Estate, will offer the technology solutions of local proptech Sharry.

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.