ARTICLES LABELLED WITH TAG report

CA Immo has reported a solid operating performance for the 2023 business year. The results show, among other things, a significant increase in rental income (+8%) and high income from the sale of non-strategic properties (sales result of €179 million, FFO II +102%), which led to an increase in the operating result (EBITDA) of 115% compared to the previous year´s figure. Although the company had to record a market-driven non-cash revaluation loss of €532 million in 2023, the EBITDA of €322 million offsets a large part of the full-year revaluation loss, resulting in a consolidated net income of €–224.5 million for financial year 2023.

Construction is one of the riskiest industries in terms of payment morale. According to data from Coface, the number of insolvencies in the Czech construction industry is growing, reaching its peak only in the second half of the year 2024.

Prague is the second most active European market for flexible offices after London. Metropolises such as Warsaw, Amsterdam and Madrid follow at a distance, CBRE reports.

The residential market has a positive outlook this year, over favourable macroeconomic conditions and higher demand levels, especially expected to realise in H2 2024, according to a report by residential developer STC Partners.

A recent Colliers survey, based on an analysis of responses from more than 500 Czech employees across a range of industries, has revealed that over 40% of employees consider telecommuting to be a barrier to their career progression.

Demand and supply slowed during the last quarter but remained relatively strong, reveals the latest report from BNP Paribas Real Estate Poland. Both vacancy and rental rates edged up by the end of 2023. Looking ahead, urban warehouses and built-to-suit projects will increase in popularity.

Industrial developer Accolade published its year-end results for 2023. Despite lower construction activity across the market overall, Accolade’s total lease volume remained the same as 2022 thanks to renegotiations. Accolade either leased or extended the lease of existing agreements for 555,000 sqm worth of properties (of which 168,000 sqm is part of the fund’s portfolio). Furthermore, total rental income grew by 26% to €148 million (with nearly €100 million falling under the fund’s portfolio) over the course of last year. By expanding into Croatia, 2023 also saw Accolade further grow its operation through the addition of another European country.

Alto Real Estate has just announced the winning design for the 15,000 sqm plot located near Bratislava's Old Town, in the Mlynské Nivy – Chalupkova zone, adjacent to Sky Park development. The international architectural-urbanistic competition, conducted in two rounds, has seen seven finalists selected from 38 contenders.

Industrial demand has shifted from logistics service providers to manufacturing companies. CBRE is reporting a year-on-year increase of 22 percentage points to a 53% share of total demand in the Czech Republic.

Higher borrowing costs and the price gap between buyers' and sellers' expectations are some of the reasons why transaction volumes are significantly below the 10-year average level of ca. €10 billion. This is according to a commercial real estate investment volumes survey by Colliers presented at a February meeting of Czech and Slovak investors and other financial experts.