The pandemic has changed the way we work and the way we spend our working hours. According to many companies and employees, the future of work is a hybrid model - part of the week we will work from home and part in offices. According to an Accenture study conducted in 11 countries around the world this year, 83 percent of respondents consider this way of working to be optimal. Maybe they should control their optimism. This model of operation is definitely not suitable for every company or employee and carries with it a number of risks.
The new Astrid Offices office building in Prague's Holešovice from UBM Development Czechia welcomes its tenants in August. The Czech branch of UBM is also moving here from its original headquarters in Voctářova Street in Libeň. The project currently rents all offices as well as retail space on the ground floor.
According to Savills, total modern office space in Prague increased slightly in Q2 2021 to 3.73 million sqm. Although subdued and still challenged by uncertainty, Q2 2021 saw a recovery in new supply as 49,500 sqm was delivered to the market across four new projects. Even though a decline of 57% is still visible in y-o-y comparison, new office supply for the second quarter is 10% above the pre-pandemic quarterly average.
The development company UBM Development Czechia published its results for the first half of this year. The company was successful in all real estate segments in which it currently operates on the Czech market: in the segment of housing, offices and hotels. UBM's strategy in the coming years is to focus mainly on residential construction, especially in Prague.
After several months of waiting, there is again interest in commercial real estate. Investors in the Czech Republic poured 678 million euros (17.5 billion crowns) into them during the first half of the year, ie a fifth more than in the same period last year. The market is spinning, albeit gradually.
from BNP Paribas Real Estate by the end of 2021, almost 40,000 m2 and in the following period over 140,000 m2 of new offices are being prepared by developers in the territory of Prague. The balance is mainly influenced by large and long-term development projects - Port 7 from Skanska in Holešovice or construction in the area of Masaryk's railway station by Penta. Sekyra Group also makes a significant contribution to the offer of new administrative areas with its Smíchov City and Rohanský ostrov projects. Their plans have not yet changed the rising prices of building materials and energy. Nevertheless, construction will reach pre-covid level at the earliest in 2023.
Due to the coronavirus pandemic, the Open House Prague Festival took place again this year, this time from 2 to 8 August 2021. The weekly accompanying program offered a number of events that introduced architecture to visitors in an unconventional way. People could sail on the Vltava paddle steamer, take the Kotěr tram with an explanation by architect Zdeněk Lukeš, enjoy a unique composed evening with contemporary dance and an evening tour of Laichter's house, or take part in a debate and film screening on abandoned buildings right on the grandstand of the Great Strahov Stadium. There was also interest in the tour and discussion, which presented the course of the reconstruction of Zenger's transformation station, the future headquarters of the Kunsthalle Prague in Klárov. During the week, other guided tours and walks were prepared, for example on the occasion of the 130th anniversary of the Prague Exhibition Grounds, 150 years since the construction of the Gröbe Villa in Havlíčkovy sady or 150 years since the arrival of the first train in Prague. "We were surprised by the great public interest in the accompanying program of the Open House Prague 2021 festival," says director Andrea Šenkyříková, adding: "The events were intended for a limited number of people, and despite the fact that we were already fully booked at the beginning of the festival week. "
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