ARTICLES LABELLED WITH TAG Prague

Nearly a third of buildings on Prague’s office market are over 20 years old. This has posed a problem for many occupants because, in terms of buildings’ sustainability, they are not meeting their ESG targets.

A Luxembourg court has definitively confirmed the conclusions of the Luxembourg Commission for the Supervision of the Financial Market. As per the verdict, Radovan Vítek's companies had been engaged in manipulation during the takeover of developer Orco, Seznamzpravy.cz reports.

Scott.Weber Workspace is expanding its coworking premises entering new buildings in Prague, Ostrava and Brno and opening 16,500 sqm of new offices for more than 2,000 people.

The permitting process has started for the first urban rental housing projects that PDS (Prague Development Company) is preparing for the capital city. Before the end of June 2024, PDS has submitted complete documentation and applications for building permits or zoning decisions for approximately 450 housing units.

UBM Development Czechia has prepared an open-door event to educate the general and professional public. Guided tours of the Arcus City and Timber Praha residential projects are organised to support sustainable timber structure development strategies in the Czech Republic.

The Victoria Palace building on Vítězné Square in Prague has received valid building use approval. The project developed by Penta Real Estate and Kaprain has been designed with 92 high-end apartments and retail units on the ground floor. 

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.

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.

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.