Crestyl Real Estate is planning to start the construction of the 39,000 sqm Savarin mixed-use redevelopment project in Prague’s historic centre this autumn, local daily E15 reports. The project, based on the plans of the Heatherwick Studio, will see the construction of new office, retail, leisure and entertainment space within the original Baroque palace, riding hall and its courtyards

Czech industrial developer Contera has obtained a syndicated loan from ČSOB and Komerční banka in the total amount of €155 million. Most of the funds will be committed to refinancing the developer’s portfolio of warehouses and production halls in the Czech Republic and Slovakia, which are owned and operated by Contera together with US investment company TPG Capital. The remainder of the loan is allocated to the development of new projects.

Penta Real Estate has obtained a zoning decision which means that it can apply for a building permit for its Masaryk station mixed-use reconstruction project in the centre of Prague. Based on the design of Zaha Hadid Architects, the project has been in the works for over a decade. Completion is planned for 2022-2025.

Atrium European Real Estate published an update on trading for the three months ended 31 March 2020 and an update on trading in light of the COVID-19 pandemic. A progressive reopening has been launched from 4 May in Poland and is planned from 11 May in the Czech Republic and 3 June Slovakia, although it is too early to say when the company’s assets will return to full operation.

The ongoing COVID-19 outbreak seems to be having a severely negative impact on market sentiment across the CEE region, according to the latest RICS Commercial Property Monitor. Q1 2020 figures show that both rental and capital value expectations have been downgraded across the region with retail expected to see the sharpest decline and industrial proving to be the most resilient asset class.

The Industrial Research Forum in the Czech Republic announced the final industrial market figures for Q1 2020. According to the report, both global and local real estate markets are affected by the Covid-19 pandemic and the adopted measures. The situation is changing dynamically and currently, no predictions can be treated as accurate. While Q1 2020 seems to be a slightly weaker quarter in terms of take-up volumes, the Industrial Research Forum expects the true impact to be visible during Q2 and beyond.

CPI Property Group has prepared an update regarding the Group’s performance following the outbreak of COVID-19.

Sooner or later, many companies that recommended their employees to work from home due to the COVID-19 pandemic will return to their offices. Whether this happens in a matter of two, four or six weeks, it is a good idea to start preparing for the move now. The Six Feet Office concept offers rules and aids to enable and facilitate the observance of the safe six-feet distance for increased employee safety. The companies that implement these rules will be able to accelerate the return of their employees to the offices, and thus their own return to normal.

Our latest online panel focused on leasing issues arising during the coronavirus lockdown in the Czech Republic. The six experts of the panel, moderated by Jaroslav Kaizr, discussed the impact of COVID-19 on current lease agreements and gave an overview of the potential immediate and long-term implications of the coronavirus crisis.

Property Forum’s series of virtual events, organised in partnership with the RICS, continues with online panel discussions focused on the leasing issues that arise during the COVID-19 lockdown. Three events, focused on the Czech, Polish and Romanian property markets, will bring together landlords, tenants, legal advisors and other industry experts to shed light on the issues currently on the mind of market participants and to help provide an overview of the potential immediate and long-term implications of the coronavirus crisis. Our diverse group of panellists will answer all the burning questions that may arise in this unprecedented situation.