What so far seems more like a phrase will change the real estate market in the coming years. The principles of socially responsible and sustainable investment, referred to by the acronym ESG, are already intervening in real estate investments and commercial real estate rentals. A wave of renovations awaits the owners of buildings built over the past 15 years. Older office buildings or those hurried by developers with a hot needle will often go to the ground.
The goal of the Orkla City project was to build a new headquarters for Orkla, a leading Norwegian supplier of consumer goods. The respectable 19,500 square meter office complex was opened in the spring of 2019 and is located in the Skøyen district of Oslo. Guardian Glass took care of the glazing.
The Česká spořitelna Real Estate Fund (ČSNF) buys the Bořislavka Centrum shopping and administrative complex from the KKCG Real Estate Group (REG). Through the acquisition, the fund increased the number of buildings under its management to 21 and the value of its real estate portfolio exceeded 38 billion crowns. This follows from the press release of the investment group Karel Komárek KKCG. The amount of the transaction was not stated by the parties.
About the Regional Research Forum
Members of the Regional Research Forum - CBRE, Colliers, Cushman & Wakefield, JLL, Knight Frank - strive to provide the most complete, accurate and transparent data on the development of regional office markets in the Czech Republic. Members share background information on market developments and believe that the Regional Research Forum will help improve the transparency of regional office markets.
The development company AFI Europe is taking stock of the results for last year, in which it fully devoted itself to the implementation of its new corporate strategy focused exclusively on rental housing: It is currently building four buildings in Prague in three residential projects. AFIHOME Třebešín (formerly Tulipa Třebešín) is the furthest in the preparations, which was the first to achieve a rough construction. The house, which will offer a total of 61 housing units, should be completed this year. Another project is the multifunctional complex AFIHOME Karlín with a total of 170 apartments, which will complement the shops and services. He reached the glajcha at the turn of this year. The other two apartment houses are growing in parallel in the new multifunctional district of AFI City. The first of them already has a complete rough construction, the construction of the second building was started in November last year. In addition to rental housing, AFI Europe also approved and sold 80% of the luxury villa houses in Tulipa Třebešín, in which it also created a model apartment under the direction of designer Magdalena Hopkins. The company was also active in the field of commercial real estate and expanded its office portfolio with Avenir Business Park in Prague 5 - Nové Butovice. The company bought it for 66.5 million euros and is now almost completely occupied.
In mid-December, a new tenant - Avatar VR Park - rented the premises of Prague's Brumlovka (BB Center) in Building G. It is the largest virtual reality park in the Czech Republic, which focuses on virtual and augmented reality. Visitors will find action, sports, balance and educational games here. The premises are also equipped with a VR café and are an ideal place for parties and new corporate events. The owner and administrator of the building is the Passerinvest Group.
According to the latest Savills report, the last quarter of 2021 was the busiest quarter of commercial real estate investment in the Czech Republic. 30 transactions with a total volume of more than EUR 628 million were closed. This was the highest quarterly real estate investment since the first quarter of 2020, and an improvement of 23% over the fourth quarter of 2020.
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