ARTICLES LABELLED WITH TAG Czech Republic

The Prague City Council has approved the investment preparation of the Beranka residential project in Prague Horní Počernice. The construction of 300 flats on an area of 63,000 sqm is being prepared under the management of the Prague Development Company (PDS). Architectural competition and tenders are being prepared. PDS plans to build between 2025 and 2030.

IRE-TEX Praha, which designs, manufactures, and supplies packaging solutions, is moving part of its production, warehouse and offices to new premises in the Fáblovka industrial zone in Pardubice from October 2023. Savills mediated the five-year lease of the entire 7,500 sqm hall. IRE-TEX has two more production halls in Pilsen.

UDI Group is adding another project to its portfolio. It will build a suburban retail centre in the village of Líbeznice north of Prague. According to the developer, a similar centre with a supermarket and several smaller retail units at one address with quality parking facilities is still missing in this village of 3,000 inhabitants. UDI Group estimates the investment at CZK 100 million (€4.2 million).

Although anti-pandemic measures were still lingering on the Czech retail market at the beginning of last year, an early return to normal was expected. However, the war in Ukraine has fundamentally influenced further economic development, especially in the countries of Central Europe, including the Czech Republic. The rapid rise in prices (inflation increased by 15.1% year-on-year) and energy expenses were met by a further decline in already weakened customer confidence. How did this affect shopping centres in the Czech Republic? And what is the current sentiment on the market not only among customers but also the retailers themselves? CBRE tried to answer these questions in its annual Shopping Centre Index analysis, which is complemented by two current surveys focused on the development of customer behaviour and expectations on the part of retailers.

Modern office buildings are an important part of ESG strategies for many companies. However, the real estate market in the Czech Republic is not yet fully prepared for the new ESG-related requirements. Even construction projects planned over the next few years will not resolve this issue, since meeting strict standards and certification requirements is both procedurally and financially demanding, Colliers reports.

CTP has signed deals totalling 96,000 sqm at five of its logistics CTParks across the Czech Republic since the start of 2023. A range of factors including rising domestic consumption, strong economic growth and the trend for ‘nearshoring’ have led to multinationals continuing to expand their footprint in the country and the wider CEE region.

Given CPI Property Group’s recent acquisition of Immofinanz and S Immo, the company is more focused on implementing its integration strategy, rather than necessarily looking at new acquisitions, says Mindee Lee, Board Secretary and Senior Manager of Corporate Strategy at CPIPG, in an exclusive interview with Property Forum.

REICO ČS Nemovitostní (RČSN) continues to clean up its real estate portfolio. It has recently sold the Rohan Business Centre building in Prague's Karlín district. The buyer is the newly established Fio real estate fund from the Fio investment company. The transaction price was CZK 740 million (€31.2 million).

CPI Property Group (CPIPG) has announced updated information regarding the Group´s efforts in reducing and preserving cash, with a focus on disposals.

In Q1 2023, the Czech industrial real estate market hit record numbers and passed the 11 million sqm mark. The five-year average has broken when the total volume of newly completed industrial grew to 217,900 sqm, according to Colliers’ quarterly survey.