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Articles - Real Estate Market

The "Best of Realty" competition announces its 24th annual winner

On Tuesday, November 15, 2022, at a gala evening in Prague's Karlín Forum, the results were announced and awards were presented to the best projects of the Czech real estate market for the past year. The winners of the 24th edition of the "Best of Realty" competition were decided by a nine-member expert jury headed by Tomáš Drtina, vice president of the Association for the Development of the Real Estate Market (ARTN). Out of the five dozen nominees, this year's awards went to projects across the entire Czech Republic. The traditional glass trophy traveled to, for example, České Budějovice, Hradec Králové, Kojetín, Lipno nad Vltavou, Opočn, Ostrava, Prague or Pilsen.

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Immofinanz acquires €324 million retail portfolio from CPIPG

As part of its value-creating growth strategy with a focus on high-return properties, Immofinanz is acquiring 53 retail properties in the Czech Republic, Poland, Slovakia and Hungary from its majority shareholder CPI Property Group (CPIPG). The acquired portfolio has roughly 217,000 sqm of rentable space and is fully let with an occupancy rate of 99%. The purchase price totals €324.2 million. The purchase contract was signed today, together with the closing for 36 retail properties in the Czech Republic and Poland which have 108,000 sqm of rentable space. The purchase price of €191 million for those properties was financed from existing funds. The closing for the remaining 17 properties in Hungary and Slovakia is expected to take place by the end of this year.

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Penta represents the heart of Prague. However, the competition has also embarked on a billion-dollar brownfield

On one of the most lucrative plots in the Czech Republic, right next to Prague's Masaryk Railway Station, the cranes of the Penta Investments investment group are already tirelessly delivering material and the local construction site is living its own life. In front of passers-by, the skeleton of one of the most discussed buildings of decades is slowly moving towards the sky.

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9 Commercial Real Estate Lead Generations Must in 2021

In order to become successful in the highly competitive business of commercial real estate it is very important to invest in lead generation. Nowadays when a great part of real estate lead generation takes place online, you can use multiple ideas and strategies to keep the clients coming. Here are some of them:

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Savills becomes the exclusive manager of the Prague office portfolio of IMMOFINANZ

With effect from January 2021, IMMOFINANZ has entrusted the international real estate consulting company Savills with the exclusive management of its portfolio of seven office buildings in Prague. The total floor area of the assets is approximately 123,000 square meters.

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Colliers predicts a strong recovery in demand for a flexible European workspace following a slowdown due to a pandemic

According to the latest Flex Forward report from global real estate consultant Colliers International, European markets with a low level of existing flexible workspace saw the largest increase in new flexible operations in the first half of 2020.

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The largest development project in Prague is starting. A new district with a kilometer-long boulevard will be built in Smíchov

The former freight station in Smíchov is starting to change. Practically in the center of Prague, a new "city within a city" is to be built within 12 years, which will include apartments, offices, retail space, and public spaces, including a kilometer-long pedestrian boulevard. The plans also include two parks, each the size of the Old Town Square. This is currently the largest development project in Prague.

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Building A is the second best refurbished office building in the Czech Republic

Building A gained second place in the prestigious Best of Realty in the Reconstructed Offices category. The jury, composed of representatives of the Association for the Development of the Real Estate Market (ARTN) and other professional associations, appreciated Building A with the technology used and its modern concept that meets the trends of the 21st century, thanks to which it will duly represent MONETA Money Bank. Announcement of the 20th Best of Realty results was held at the Congress Center of the Czech National Bank and Martin Čermák took over the awards. (source: BB Centrum)

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