ARTICLES LABELLED WITH TAG Prague

Skanska plans to build the first climate-neutral office building in the CEE region. The developer is going to use a solution based on structural timber, as wood is a natural resource that will help reduce the carbon footprint. Construction works on the office building located on Radlická Street in Prague are planned to begin in 2023. Skanska has made a global commitment through a climate target of net-zero carbon emissions by 2045, with a 50% reduction by 2030.

Czech real estate group Českomoravská Nemovitostní (ČMN) has completed the €74.5 million (CZK 2 billion) acquisition of two office buildings, City West C1 and C2 in Prague's Stodůlky area. The seller is Luxembourg-registered Capital Financial Holdings (CFH). Raiffeisenbank provided financing for the acquisition.

Zeitraum, a specialist in student rental housing, has entered into a three-year contract with the Anglo-American University in Prague (AAU), guaranteeing 120 beds for its students in the new academic year 2020/2021. The AAU is one of 20 universities with which Zeitraum cooperates and provides accommodation for the AAU’s students on its four newly reconstructed campuses in Prague. More than 60% of university students remained accommodated despite the difficult situation regarding the COVID-19 pandemic while continuing their studies online.

Hypermarket chain Albert has sold Obchodní centrum Čestlice to HSTN Holding, a private investment platform founded in 2017 by the founders of Sportisimo. The sale was facilitated by Cushman & Wakefield.

Czech real estate developer Kaprain Group, owned by businessman Karel Pražák, has launched the construction of the 30,000 sqm Kaprain Harfa Business Center office project next to Prague’s O2 Arena, local daily E15 reports.

By purchasing the Mezi Vodami 31 office building in Modřany, Prague, the NEMO Real Estate Fund, established by Českomoravská Nemovitostní (ČMN), expanded the total area of its office portfolio to 17,500 sqm. The value of the Fund’s portfolio now reaches €47.7 million (CZK 1.3 billion).

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

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.

Generali Real Estate has acquired the Kotva department store in Prague for an undisclosed sum from Pražská Správa Nemovitostí (PSN) through its pan-European fund Generali Real Estate Asset Repositioning SA (GREAR).

CBRE has facilitated the lease of approximately 15,500 sqm of office space to the expanding Prague team of ExxonMobil in Luxembourg Plaza in Prague 3. The 1,200 employees who currently work in two different office buildings will move into the new headquarters in Q1 2022.