The period saw the completion of the 3,850 sqm Drtinova office project (Prague 5) as well as the launch of construction work on 29,100 sqm Enterprise project (Prague 4). Currently a further 153,500 sqm is under construction with expected completion within 2014. Gross take-up (including renegotiations) came to 67,400 sqm, down by of 19 pct q-o-q and 27 pct y-o-y. The highest volume of gross take-up was recorded in Prague 4 (36 pct), Prague 8 (22 pct) and Prague 1 (11 pct), while the most active sectors were. IT (24 pct of gross take-up) followed by professional services (20 pct) and construction (14 pct). The total share of renegotiations reached 28 pct. The most significant transactions of the first quarter of 2014 were pre-leases of Avast (11,100 sqm) at Enterprise in Prague 4 and Skanska (8,600 sqm) at Corso Court in Prague 8 and new lease of ING Bank (3,600 sqm) at Harfa Office Park - Amadeus in Prague. The vacancy rate reached 13.7 pct at the end of Q1 2014 which represents an increase by 52 basis points compared to previous quarter. Total vacant space amounted to 396,944 sqm. In Q1 2014 prime headline rents in the city centre decreased to EUR 19 – 20 per sqm per month, while prime rents in the inner city remained stable between EUR 15 and EUR 17.5 per sqm per month.