Falling interest rates and loose monetary policy in the eurozone and Central and Eastern European countries are boosting investor confidence in the region’s commercial real estate market. However, the situation varies from country to country. For example, the Czech National Bank recently paused its rate cut cycle due to an upward revision of its inflation forecasts for this year.
The construction of the new Dornych project by the Crestyl development group in the vicinity of Brno's main train station is progressing to the next phase. After the demolition of the old shopping center was completed, the last rubble was removed at the end of April. 90% of the demolished material will be recycled. A full 100% of the raw materials from the excavation of the construction pit will then be reused. Some of the material will be used directly in the construction of the new project. Its completion is scheduled for the end of 2027. Dornych will offer a freely accessible public space flanked by several smaller buildings. The lower floors of the new buildings will be reserved for shops and services, while the upper floors will house a hotel, clinic, rental housing and offices.
ČEZ has chosen the Smíchov City project by Sekyra Group for its new headquarters. The company has already started its construction. ČEZ will purchase the new headquarters, which will include three separate buildings with a total area of 44,000 m², from Sekyra Group upon completion in 2027. In addition to domestic architects, a major Swedish architectural studio also participated in the design of the buildings. ČEZ will be located next to the large campus of Česká spořitelna, which is currently under construction. Smíchov City is the largest urbanization in central Prague since the creation of Vinohrady, not only as a residential district, but also as a significant administrative location - business hub. Thanks to these significant investments, Sekyra Group holds a dominant position in the Prague office market with a roughly 80% share in the segment of construction of administrative buildings. Smíchov City is being transformed into a full-fledged district with a balanced share of residences, administration and leisure areas. The total costs of the Smíchov City project will reach 50 billion crowns, of which 35 billion will be private and 15 billion will be public investments, which will be directed primarily towards infrastructure.
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.
The European Bank for Reconstruction and Development (EBRD) has provided AFI Group with €120 million in financing to support the expansion of its portfolio of premium commercial and residential properties in the Czech Republic, Poland, Romania and Serbia.
One of the landmarks of the Prague metro station Budějovická is changing hands. With the sale of The Square building, the investment company of the Amundi group completes the successful sale of projects from its 1st real estate fund. The new owners are the Czech real estate group Mint, which has previously managed the building for Amundi Realitní fond KB, together with private investors. The financing of the transaction was provided by Komerční banka. The new owners plan to invest in the building from the beginning with the aim of improving the building's energy efficiency and increasing its long-term attractiveness for tenants.
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.
Spoločnosť Skanska sa stala prvým developerom v Českej republike, ktorý získal certifikáciu Access4you pre kancelársku budovu. Táto medzinárodná certifikácia hodnotí prístupnosť naprieč 16 segmentmi nehnuteľného trhu a pre 8+1 skupín užívateľov s rôznymi potrebami v rámci zastavaného prostredia. Access4you pomáha ľuďom so špecifickými požiadavkami na prístupnosť plánovať ich pohyb a zároveň podporuje vlastníkov nehnuteľností v rozvoji inklúzie a napĺňaní obchodných aj ESG cieľov. Audit troch budov projektu Port7 vykonala spoločnosť Commissioning CZ, akreditovaný partner Access4you v Českej republike. Tento úspech podčiarkuje dlhodobý záväzok Skanska k inklúzii a zaisťuje, že všetci užívatelia areálu majú k dispozícii spoľahlivé a podrobné informácie o prístupnosti.
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