The prolific change of 2020 has shaped the real estate industry more than anything else in decades. The digitization had been underway before the pandemic, but the speed of that shift has accelerated in ways that nobody could have predicted.
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.
According to the latest Savills report, the volume of commercial real estate investments in the Czech Republic in the second half of 2020 amounted to € 797 million, with 60% (ie € 478 million) of these investments related to Prague real estate.
Weber-Stephen Products, LLC (Weber), a leader in the production of innovative and high-performance barbecue products, has signed a lease for 1,200 square meters of office space in The Flow Building on Prague's Wenceslas Square. The Flow Building by the developer Flow East is one of the most distinctive buildings in Prague and the demand for space in the building, which is an example of technologically advanced and modern architecture, is high. Furnishing offices for Weber is scheduled for May this year, and the company will move to the new facility by September 2021.
Whether you are a property owner or a property manager, steady rental income equates to a well-streamlined cash flow. The rent roll data builds the foundation for day-to-day operations in asset and investment management. They also built the foundation for the valuation of the asset. Therefore, accurate and consistent data is crucial to make the right decisions.
Today, companies are looking for ways to make office space more attractive and give employees a reason to return to work. According to a new report from JLL, it must focus its attention on employees. The JLL report, entitled Reimagine: The New Future of Work to Shape a Better World, predicts that the future of work lies in prioritizing both the physical and mental health of employees. Expected trends include a major transformation that will transform traditional offices into central spaces for interaction, collaboration, innovation and employee training.
From September, the Wolt delivery service and the Kantar research agency will move their headquarters to the Bubenská 1 palace in the First Republic, which has undergone reconstructions for more than a billion in recent years. The WPP group has already chosen the building as its headquarters for its marketing, advertising and PR agencies. Bubenská 1 belongs to the portfolio of the real estate investment group CPI Property Group, which is the largest owner of office space in Prague.
During the first quarter of this year, Sekyra Group intends to launch Rohan City, the second of its major development projects. The first was Smíchov City, which started last year. The information was confirmed by Luděk Sekyra, Chairman of the Board of Directors. Rohan City will be within walking distance of Invalidovna Metro Station.
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