The company Colliers, which belongs to the top in the provision of diversified professional services in the field of commercial real estate and investment management, has prepared a unique price map of office space in Prague. The map indicates that for the highest rents, offices are rented at centrally located metro stations such as the Museum or Náměstí Republiky, while the lowest rents are around Petřiny or Náměstí Míru stations.
Anyone who regularly moves around Prague's náměstí Republiky may have recently noticed an increase in construction activity at the somewhat run-down corner house adjacent to Kotvá. And in about a month, scaffolding will appear on the corner palace in the neoclassical style according to the design of the architects Adolf Foehr and Alfons Wertmüller, the author of the State Opera.
The Churchill Square office complex in Prague near the main railway station will be completely transferred to the domestic company Českomoravská nemovitstní. She already owns half of the building. The other half belongs to the Lebanese investment group CFH.
Leading Brno developer Domoplan is planning a large-scale construction for four and a half billion crowns near the final stop of the recently completed West Gate tram line. After exiting the "wasteland" one finds only a barren plain here today, but within a few years the multi-functional urban two-block Brixx will grow here with more than four hundred apartments, offices and a top medical workplace. The construction of the project, for which Domoplan has already received planning permission, should begin in the first half of next year.
Sharry, a company developing a workplace experience platform around digital employee badges, has completed its largest project in the Czech Republic yet. It has launched a comprehensive digital solution for the office part of the Prague-based DOCK complex developed by Crestyl. The contract includes a mobile application "DOCK by Crestyl", which connects users from all five office buildings and contributes to the greater sustainability of the project.
Rising energy prices and upcoming changes in the mandatory reporting of ESG information, which show the effects of companies' management style on the environment, energy balance and the quality of the working environment, aroused a significantly higher interest of companies in sustainability and dream related areas last year. Specifically, it was confirmed by 67% of more than 500 interviewed investors and tenants of commercial real estate participating in a global survey by the real estate consulting company CBRE. The current facts are inexorable: only 15% of buildings worldwide currently meet the conditions of the so-called Paris Agreement, while 85% of all existing real estate located on the territory of the European Union is to be used even in 2050, when the EU wants to achieve climate neutrality. In the future, it will therefore be necessary to implement a whole series of reconstructions and demanding rebuilds. It is for these reasons that CBRE's latest survey was created, the results of which reveal the main trends that are currently gaining ground in the field of ESG and have a significant impact on the strategic decision-making of companies.
The volume of investment in commercial real estate in Central and Eastern Europe (CEE) in 2022 was approximately 10.7 billion euros. Although this is a year-on-year decrease of only 3.3%, compared to the situation before the pandemic, it is a reduction of more than 20%. At the same time, domestic capital was the most active with a 38% share of total transaction volumes. In the first half of 2023, commercial real estate markets will remain subdued due to significantly higher financing costs and the subsequent price correction currently taking place in both CEE and many other regions. Colliers experts estimate that in 2023 investment volumes in CEE could reach between 7.0 and 10.0 billion euros. This follows from a study by Colliers, a leader in the provision of diversified professional services in the field of commercial real estate and investment management.
In February, the development and investment group Crestyl appointed Lenka Preslova as its commercial director for commercial real estate. In the newly established position, she became part of the management of Crestyl in the Czech Republic, where she will lead the team dealing with the leasing and management of commercial real estate - both office and retail.
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