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Articles

KKCG to invest CZK 2bn into Centrum Bořislavka

KKCG Real Estate, owned by the Czech businessman Karel Komárek, plans to build a mixed-use complex on Evropská street in Prague 6.

Cushman & Wakefield to merge with DTZ

Cushman & Wakefield and DTZ have reached a definitive agreement to merge and are set to become one of the largest global real estate services companies. The new company, which will operate under the Cushman & Wakefield brand, will have revenues over $5.5 billion, over 43,000 employees and will manage more than 4 billion square feet globally on behalf of institutional, corporate and private clients.

Avast will occupy a half of the Enterprise office building (Prague)

Avast Software is planning to recruit 200 people this year. Due to that the company shall lease 15,000 square meter in a new office building Enterprise in Pankrac district, Prague.

Amstar will look for new investment in CEE

“Amstar is currently focused on ensuring the success of Zlota 44, though we will plan to look for new investment opportunities in Poland and other countries within the CEE region when the time is right,” said Jeffrey Stonger, vice president of Amstar, an US fund that bought Złota 44 project (Poland) together with BBI Development in 2014. The company is currently mostly active in Turkey. “In addition to Turkey and Poland, Amstar has identified Czech Republic, Romania and Hungary as potentially interesting countries to invest,” Jeffrey Stonger told ‘Eurobuild CEE’ magazine, a monthly publication covering the CEE region's real estate and construction industry.“For all of our international investments we utilize a joint venture structure with a local operator, so it is crucial for us to find best-in-class development partners within each market. As for targeted market segments, Amstar invests in all major property types (residential – not only highest class, retail, logistics and office) and we target opportunistic investments, meaning most of our projects are either ground-up development or re-development. Similar to our experience with Zlota 44 in Warsaw, when we enter a new market we tend to focus on the largest cities with the best growth prospects,” said the Amstar’s vice president, adding: “At the moment we are not looking for anything else in Poland, but in longer term we will certainly look at a growing platform within three four years”.

Segro Logistics Park Prague fully leased

JLL industrial team has successfully negotiated a lease of 2,800 sq m for the logistics operator Damco in Segro Logistics Park Prague in Hostivice.

Europa Capital acquires three office assets in Budapest

London-based real estate fund manager Europa Capital has acquired a 30,000 sqm gla office portfolio in central Budapest for its pan-European investment fund, Europa Fund IV, for EUR 30 mln.

Green Award for Building G

The Building G office building, part of the portfolio of leading Czech development and investment company PASSERINVEST GROUP, has received a Very Good rating on its BREEAM certification. Building G is part of the multifunctional facility BB Centrum, whose tenants include such companies as Royal Canin, Mars, Wrigley, Fiat and SII.

Prague ranks as 45th at the list of the most expensive office locations

According to the study of the consultancy firm Cushman & Wakefield London’s West End is the world’s most expensive office market for the third consecutive year. To rent one metre squared of office space here costs over EUR 2,300 annually. Hong Kong came second place (EUR 1,636 sq m/annually) followed by New York third (EUR 1,162 sq m/annually).
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