ARTICLES LABELLED WITH TAG Czech Republic

Danube House is a landmark office building in Riverside Karlin, anchored by international occupiers from tech, start-up, legal, and banking industries. After 20 years of operation, it is now undergoing comprehensive refurbishment.

A new hall within Arete Park Zdice has been completed and handed over to its tenant, the Czech branch of the logistics service provider Kuehne+Nagel. After the opening of the new building, the total leasable standing area of the park in Zdice has increased by more than 41% to 24,808 sqm.

Residential builder Central Group has just completed the largest transaction on the housing market this year. It is buying more than five hectares of land near the Invalidovna metro station in Karlín in Prague 8, including the existing Čechia Hotel. 

The YIT company has sold the Rivi Bachova project in the Praha-Chodov district to the Rivi Construction Cooperative. The interest in cooperative housing is increasing given the situation in the Czech mortgage market.

RSJ Investment Group has announced the completion of the sale of a modern industrial hall near Chomutov with a leasable area of almost 40,000 sqm. The company Jungheinrich has been manufacturing forklift trucks since mid-2023. Patria Investment Company, a part of the ČSOB group, has become the new owner.

The Czech office of Drees & Sommer is expanding its management team. Markus Ising has been promoted to Managing Director with a focus on clients from the DACH region. 

The company BTL together with Lucerna Palace's current owner Dagmar Havlová have founded the company Palác PL. Havlová has invested the property of Lucerna into Palác PL retaining a 25% share. The remaining 75% have been acquired by BTL in exchange for almost CZK 1 billion (€40 million), reports Forbes.cz.

UBM Development Czechia is completing the Timber Praha residential project, the first sustainable timber apartment building in Prague. Unlike multi-storey foreign projects, this one has reached a height of four floors, i.e. 12 meters of fire height.

CPIPG has announced further progress in the Group’s strategy to reduce leverage. CPIPG and its subsidiaries, CPI FIM SA and Czech Property Investments have signed a partnership agreement through which CPIPG is going to sell a 49% common equity stake in Vulcanion for €250 million to funds managed by Sona Asset Management.

The transformation of the so-called Pentagon in Palmovka district in Prague 8 has moved closer to reality. The Prague city deputies have approved a change to the city master plan this week, enabling the coordinated urban development of this area.