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Office Market News

Thanks to CA Immo, Prague got a new park. You will find it in Riverside Karlín - a newly renamed and completed office campus

The extensive transformation of Rohanské nábreží under the baton of the development company CA Immo did not end with the completion of the last office building. After almost twenty years, the originally neglected area on the right bank of the Vltava river has become a sought-after part of the city, where people go not only to work, but also to relax, play sports and have fun. The complex of a total of five administrative buildings, which are named after rivers from around the world - Danube House, Nile House, Amazon Court, Mississippi House and Missouri Park - has just been completed by a newly completed park, which opens the entire space to the general public. It is accessible not only from Karlín, but also from Holešovice, after the recently approved footbridge with the already popular nickname HolKa. Cyclists can even come here directly from the city center on the backbone cycle path A2, which only recently received a new asphalt surface in this section and was extended to four meters. The final and symbolic completion of the construction of CA Immo in this location is the renaming of the area from the current River City Prague to Riverside Karlín.

Living by Dolce & Gabbana or Aston Martin? Luxury brands dabble in development

Imagine the announcement of a new development project in Prague. A luxury house on some lucrative land. However, the company sponsoring the entire project is not one of the established players like Penta or Sekyra Group, but for example Lasvit.

The most anticipated construction of Prague opens. How did time go with Masarycka?

Gold wedge towering above the new square. A monumental building in a lucrative place in the center of Prague, where the abandoned brownfield was until recently. And inside the tenants of known names. One of the most watched Prague buildings in recent years has gained in charge and begins to move the first tenants.

UBM will build the world's tallest wooden skyscraper in Vienna

UBM Development AG will implement the construction of the Timber Marina Tower project, a 113-meter high office building with a wood-hybrid structure in Vienna's Handelskai district. At the same time, the company progressed with the Timber View residential project and the Timber Peak office building in Mainz, and with the preparation of the LeopoldQuartier district in Vienna. UBM plans to become the largest European developer of ecological buildings with a wooden structure. In the Czech Republic, the parent company's vision is followed by UBM Development Czechia, which is building the Timber Praha residential project, the first wooden multi-storey apartment buildings in the capital. Compared to ambitious high-rise building projects abroad, however, Timber Praha's energy-sustainable houses have a maximum height of 12 meters, due to restrictions arising from domestic legislation.y

New business headquarters in Ostrava. Contera is completing a building worth a billion and a half

Back in the 1980s, the Karolina coking plant operated in the Ostrava area. The part of the city that originally served mines and heavy industry was then an empty brownfield for several years. However, it is gradually turning into the commercial and administrative center of the city and is attracting more and more investors.

Prague offices will soon be in short supply, the price of their equipment is driven up by ESG and modern standards

High demand and a lack of new projects caused a decrease in the vacancy rate of Prague offices, which currently stands at 7.26%. The volume of new construction and renovations was approximately 143,600 square meters at the end of Q2 2023, and the total market size was 3.85 million square meters. Reference rent prices have not changed in any way compared to the previous quarter, however, in connection with ESG and modern standards, the price of office equipment is increasing. It can easily exceed 1,000 euros per square meter. That's according to a survey by Colliers, a leading provider of diversified professional services in commercial real estate and investment management.

Searching for a "new" office

The operation of contemporary offices shows that the intersection between work and personal life is increasing. The personal life of employees has an ever-increasing influence on companies' decisions about choosing a suitable office. On the other hand, employees are considering working corners at home for a comfortable home office or close commuting distance to work.

Prague: demand for coworking is growing

Working in coworking offices, i.e. in shared spaces, is gaining more and more popularity. Not only is the interest of companies in the volume of rentals of such capacities growing, but also the total share of coworking spaces on the Prague office market.

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Tereza Matejkova

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