At the gala evening of the 26th edition of the Best of Realty competition, organized by the Association for Real Estate Market Development (ARTN), the best development projects of 2024 were announced. In individual categories, awards were given to projects that are exceptional in their contribution to the location, architectural and urban concept, quality of implementation, or their approach to sustainability and innovation.
In November, the Crestyl development group fully launched its new Dornych project in the vicinity of Brno's main railway station. At the end of October, the old shopping center closed for good, which is now being cleared out and is awaiting gradual demolition. This will begin in December with the ancillary buildings, and the main building will then be demolished in January. Its demolition will take four months, during which preparatory work for the next construction will also begin. The new Dornych project of the Crestyl group will then open in 2027 and 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, a clinic, rental housing and offices.
In the third quarter of 2024, approximately 188 million euros were invested across the main real estate sectors. Although this is one of the lowest volumes in recent years, a full 100% of buyers were from the Czech Republic. The total investment volume for the first three quarters of 2024 exceeded one billion euros. There were a total of 34 transactions. Approximately half of the properties with which transactions have been carried out so far in 2024 are located outside Prague. This is according to a regular quarterly survey published by Colliers, a leading provider of diversified professional services in the field of commercial real estate and investment management.
CBRE, the world leader in commercial real estate services, is celebrating 25 years on the domestic market. During the same period, the market underwent significant changes and matured into a stable investment environment that can withstand international competition and attracts domestic and foreign capital.
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.
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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.
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