Passerinvest Group, the Czech development company behind, among other things, the development of the vast area known as Brumlovka in Prague 4, has presented its plans and strategic investments for the next five years. During this period, it will bring a total of 180,000 square meters of office, residential and retail space to the market. Along with the construction, it will also focus on the transformation and cultivation of 5.5 hectares of public areas - parks, relaxation zones and water areas.
Investment and development company AFI announces the appointment of Karin Shalev Shogol as CEO for the Czech Republic. She replaces Doron Klein who will focus on other tasks and challenges related to AFI after fourteen years of successful leadership of the Czech team. He will continue in his role as Deputy CEO of the entire group and also as CEO of AFI Romania.
The company Profil Nábytek from Humpolec will supply complete interior equipment and furniture to the new Horácká arena in Jihlava. This is the largest order of its kind in the Vysočina region to date, worth 25.8 million crowns excluding VAT. The delivery includes equipment for more than 430 rooms, including locker rooms, hotel rooms, offices, skyboxes and other spaces.
Home Credit is catering to clients for whom personal contact is still important when negotiating new products. In March, it opened two new branches - in the Korso Karviná shopping center and in Fontána in Teplice. Although more and more clients are concluding consumer loans online, in 2024 this was already more than 40% of negotiated contracts, brick-and-mortar branches still play a key role for many not only for negotiating products, but also as the first step and gateway to the digital world of finance.
Similar to Prague, Brno also recorded only a slight year-on-year increase in the supply of modern office space in 2024, with the total market size increasing by only 8,600 square meters. The same was true in Ostrava, where the construction of modern office buildings has been subdued in recent years, with exceptions, and the average annual completed area over the past 5 years is 5,800 square meters. Despite the lower supply, both cities represent an attractive alternative for investors - rental prices are stable and lag behind the Prague market. In Brno, at the end of 2024, the rent for premium office space in a modern design was EUR 17 per square meter per month, while in Ostrava it ranged between EUR 14 and 14.50. Other regional cities, especially Plzeň, Hradec Králové and Olomouc, could attract investors' attention in the coming years thanks to new projects and improving transport infrastructure. This is according to the latest analysis of the regional office space market by Colliers.
YIT has successfully completed the rough construction of the first phase of the Toivo Roztyly residential project in Prague 11, which includes 88 units. Its final approval should take place at the end of this year. The second phase, which should start this year, will include another 116 apartments. The complex, with its minimalist and timeless design, will include a number of ecological elements and plenty of greenery.
Office space in Karlín is among the most sought-after in Prague. Successful companies, especially in the fields of information technology and communication, are moving their headquarters here. Now, the major Czech communications group KNOWLIMITS is also planning to move here.
The fourth quarter of 2024 was the second quarter in a row when no office project was started in Prague. It was also the period when only one project was completed, 100Yards in the city center. The vacancy rate remains very low, increasing by only approximately 0.2 percentage points year-on-year. The total volume of modern office space at the end of 2024 reached 3.96 million square meters, which is less than in Warsaw or Budapest. The highest achievable rent in the city center is currently EUR 29.50 per square meter per month. 2025 could bring slightly higher construction activity, thus moving the market again. This is according to a regular quarterly survey by Colliers.
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