As part of the 32nd edition of the Building of the Year competition, which is organized annually by the Foundation for the Development of Architecture and Construction, the Roztyly Plaza administrative building of Passerinvest Group was awarded the prestigious title of Building of the Year 2024. It received the title for the purity of the building's architectural and structural design and its urban concept location in the area immediately following the Krčský les. According to the jury, the building is an example of modern administrative architecture, which destroys the stereotypical ideas of the lay public about office buildings as "glass-concrete hells" taking up public space. The jury was also impressed by the building's friendliness, well-thought-out shape solution, accessibility and connection of the external and internal environment.
For the first time in its almost thirty-year existence, the Crestyl development group is changing its position as international CEO. Simon Johnson, who has held the position of COO of the group for the past 14 years within Crestyl and also acted as executive director for the Czech Republic, is taking over the management of the entire group. The founder, owner and current CEO of the Crestyl Group, Omar Koleilat, is moving from an executive position to the role of a strategic consultant, and remains the owner of the company.
Flexible offices will grow by 161,303 m2 in the EMEA region in 2023. The main drivers of this growth were mainly large global companies, such as HSBC, KPMG and Microsoft, which decided to transform their work environment and adopt flexible solutions. This trend also worked as a catalyst for the transformation of traditional coworking spaces into corporate-class workplaces. This follows from the Flexpansion study by Colliers.
In the 3rd quarter, there was only a slight increase in the total area of modern office space in Prague, and it continues to be slightly above the 3.95 million m² mark. In the first nine months of 2024, 69,500 m² of office space was completed in Prague, which represents a decrease of 29% compared to the same period in 2023.
Since the beginning of the year, the office vacancy rate in Prague has increased from 7.4% to the current 8.1%, which represents the highest value this year. A total of 318,200 m² of office space was immediately available. On a year-over-year basis, the current vacancy rate is 78 bps higher than the same period in 2023.
The total rental activity for the first three quarters is 458,100 m², which represents a year-on-year increase of 27%. Renegotiations of existing contracts accounted for more than 49%, similar to the same period last year.
Net demand increased by 26% year-on-year, reaching 222,800 m² in the first three quarters of this year. Thanks to the ČS transaction, the financial sector is the most active (44% of this year's net demand).
The basic rent for class A offices in the center of Prague and in the outskirts has stabilized. It increased slightly in the wider city center.
WorkLounge is the second largest company in Prague that offers serviced offices and coworking centers with all services. Small and large teams and, of course, freelancers can find their place in them. There is a lot of interest in modern and top-notch equipped offices with full service, the sixth Prague branch is currently being opened.
Well-being: how can the work environment contribute to improved mental health?
For many people, after a long "covid" break, the work environment is where they spend most of their time again. For this reason, it is important that the work environment is pleasant and supportive of their mental health. The trend of recent years is set clearly, give people what they want. Give them a pleasant working environment and they will be more willing to stay longer, finish the job and spend time away from home. And it makes sense. A happy colleague/employee equals better work ethic, results, engagement, willingness to stay longer, but it also translates into mood and relationships within the team.
On September 12, 2024, CTP, the largest European developer of industrial and logistics parks, opened its state-of-the-art office building I in the Vlněna complex in Brno, which was created by the revitalization of a former brownfield. The festive event was attended by important personalities from among clients, partners and the city. The 60-meter-tall structure, designed by architectural studio acht, boasts innovative technologies, including a drone mail system that was demonstrated with a test flight at the event.
FETTERS, a specialist in project management in the construction industry, joins the ranks of developers with the Panorama Braník project. The 14-storey multi-functional building on the border of the residential development in the southern part of Prague's Braník will offer a total of 77 apartments with layouts from 1+kk to 5+kk and 750 m2 of commercial space on more than 4,300 m2. The public sale was launched on September 2, with completion scheduled for late 2026.
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