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.
The extension of UniCredit Bank's lease to 23,700 m2 in the Filadelfie office building in Prague's BB Center is one of the largest lease transactions in 2020. This year, the bank built a modern office concept within its headquarters - Smart Office, which allows it to optimize leased premises in line with current and future trends.
The coronavirus pandemic has become a catalyst for change in many areas of business. The market for office space, which has often been half-empty in recent months due to the higher level of work from home, is not on the sidelines either. Therefore, companies are discovering the benefits of flexible offices and are also starting to use them more. Others may not have heard of them yet. How do they work and what helps their rapid development?
First digital PropTech Start-up Hub in CEE Online Real Assets (https://www.onlinerealassets.com), is completing its 360⁰ digital services to landlords and asset managers, by integrating brand new digital asset management tool, through its joint-venture with Assetti (https://assetti.pro).
In a survey of Facebook employees covered by the Harvard Business Review, the participants identified three things they wanted most from work: career, community, and cause. When those three critical elements are met, they give employees a sense of respect, care, and recognition from their community at work, and they report that they truly “bring their whole selves to work.” This sense of connection with a work community enriches their feeling of accomplishment, beyond the physical walls of the workplace.
It has been a trying time across all industries and all kinds of interpersonal relationships. Community managers and tenants are considered in-person communities, and as such, are particularly affected by the onslaught of this uncertainty. COVID-19 has urged community managers to think on their feet when it comes to solutions for pressing concerns among their tenants. Clear communication is the cornerstone of maintaining tenant relationships – despite it looking differently from what it once was.
COVID-19 brings uncertainty to many tenants, and with current social distancing measures in place as well as a majority of companies transitioning to working from home arrangements, the requirements of an office space have been severely impacted.
In the last month alone, the vacant office space offered by tenants for sublease has approximately doubled (from 50 to 100,000 m2). This is a unique opportunity, especially for small companies with up to 50 employees, which can now afford prestigious "A" offices commonly intended for larger corporations due to the coronavirus crisis. And under very advantageous conditions, often with a better price or higher flexibility of commitment compared to standard five-year contracts.
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