More than a million Czechs work in state administration or state-owned companies. Although the state office market is approximately the same as the market for Prague offices (currently approx. 3.7 million m2), the situation with investments in equipment is diametrically different. The expert jury of the Office of the Year competition spoke about the need for enlightenment among state authorities or companies at last year's meeting, as quality equipment is important for the satisfaction not only of company employees but also of state officials.
• The new tenant is the law firm, Allen & Overy
• The Mississippi house and Missouri Park are scheduled for completion in July
• Both buildings meet not only the standards for WELL Core & Shell and LEED Platinum certifications but also WELL
AFI Europe has signed an agreement to purchase the Avenir Business Park office center in Prague 5, owned by one of the funds of the British company Tristan Capital Partners. The premium office complex with a total leasable area of more than 25,600 m2 is almost 100% occupied. Prestigious tenants include companies such as ČSOB, ING, Porsche, McDonald’s, Dermacol and Coloplast. The value of the transaction, including certain settlements, is EUR 66.5 million. The transaction will be completed as soon as the seller meets the pre-agreed conditions in the transaction contract.
A year ago, offices were a space where millions of us spent about a third of our lives. However, much has changed since then. Did the pandemic bring about the end of the traditional office we were used to?
The Crestyl Group is completing its DOCK district, growing around two blind branches of the Vltava in Liben, Prague. The last building is currently under construction - the DOCK IN FIVE office. Work is also finishing on the hectare park directly in the area, which will be completed and opened during the spring months. The residential buildings are all completed and the apartments are sold out. Similarly, all completed office buildings are fully occupied by tenants except for the last few meters. Completion of the last DOCK IN FIVE office building is scheduled for the second half of 2022. It will offer approximately 21.5 thousand m2 of office space and retail space.
After a year of fighting the pandemic, we are reaching a turning point, according to a JLL study. Covid 19 has transformed the world in a way that will affect business many decades ahead and adjust the traditional conditions of where and how we work. It turns out that approved vaccines are a promise for a return to normal life, but it will be different, and the question arises as to what our world will look like and how companies are preparing for it.
Due to the covid-19 pandemic, investors were more interested in waiting tactics in part of last year. This gave them enough time to carefully assess the risks and better assess the next steps. Therefore, the second year with coronavirus starts with increased activity. According to the current CBRE survey of commercial real estate investors, 50% of companies active in Central and Eastern Europe expect increased transaction activity this year.
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