The ORGANICA administrative building will be one of the smartest office buildings in the Moravian-Silesian region after its completion next year. The digitization of individual services and communication tools will be handled by the Sharry software, which is also used by New York skyscrapers, among others. Sharry will connect a mobile application, smart parking and software for receptionists and visitors.
Purely Czech company Passerinvest Group, a.s. (hereinafter referred to as Passerinvest) successfully closed the purchase of the Gamma office project in the Brumlovka administrative center in Prague, where it has been operating for a long time. The building, financed by Raiffeisenlandesbank Oberösterreich, was acquired by Passerinvest from the Austrian real estate group IMMOFINANZ.
In the next 25 years, the Odien investment group plans to build a neighborhood with approximately 7,000 apartments for up to 11,000 people in the Avie area between Prague's Letňany and Čakovice. He estimates the construction costs at 70 billion crowns. Group CEO Michael Saran told reporters. The district is to be connected to the city center by a modernized railway and a new tram line. According to Saran, the company has already started decontamination of land after industrial production and is waiting for a change in the zoning plan. She would like to start construction in 2025.
Slovak developer Corwin has sold the Blumental office centre in Bratislava to Czech real estate fund ZFP realitní fond. With more than 21,000 sqm of lettable area, it is one of the largest Bratislava office transactions of 2022. The price of the acquisition has not been disclosed.
The Czech real estate investment volume reached €1.15 billion in the first half of 2022. This was a 60% increase and was mainly led by domestic investors who acquired properties worth more than €607 million. Even the number of transactions in Q2 surpassed Q1 of this year. Domestic buyers were involved in 11 of the 13 transactions in Q2, so the share of the domestic capital increased in total volume to 68%, Savills reported.
Such an exodus of women from the group of productive employees would greatly weaken the Czech labor market
Two years of the pandemic have changed many women's perspective on their career life. According to a study published by the McKinsey Global Institute, fully 25% of working women considered quitting their jobs and leaving the labor market. The demanding reconciliation of personal and work life during the pandemic restrictions often led to extreme exhaustion for them, in many cases even to the point of burnout. From the experience of Colliers, a leading diversified professional services company in the field of commercial real estate and investment management, it follows that their decision to leave their career can easily be reversed by the employer by adjusting the working environment and conditions or by investing in the employee's retraining.
The current economy has to deal with a number of negative factors affecting not only our personal but also our working life. The Covid pandemic and its consequences, the difficult geopolitical circumstances caused by the war in Ukraine, the skyrocketing energy prices, steeply rising inflation – all of this has an effect on the office market as well. Today, their tenants are faced with the question of how big offices they will need in the era of the "new normal" - and also in what buildings in order to be able to pay the rent in the rented premises without problems (1). In the considerations of tenants, the price-quality ratio is increasingly coming to the fore. When applying this key criterion, it turns out that class "B" offices, although their share of the market for administrative space in Prague is significantly lower than class "A" offices, are definitely not Cinderella. On the contrary – for many tenants, they are now the ideal solution to their needs. The example of the successful Nagano Park administrative complex in Prague 3 can be used to show why "B" offices are and will be in vogue.
The assets of the WOOD & Company Office Sub-Fund will now be supplemented with their tenth office building. The eight-storey modern building offers 7,500 sqm of leasable office space. Green Point is the third Prague office property held by the WOOD & Company Office Sub-Fund. Since its inception in 2017, it has delivered an average annual return of 11.65% to investors, making it one of the most successful real estate funds in the Czech Republic and Slovakia.
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