Well-being: how can the work environment contribute to improved mental health?
For many people, after a long "covid" break, the work environment is where they spend most of their time again. For this reason, it is important that the work environment is pleasant and supportive of their mental health. The trend of recent years is set clearly, give people what they want. Give them a pleasant working environment and they will be more willing to stay longer, finish the job and spend time away from home. And it makes sense. A happy colleague/employee equals better work ethic, results, engagement, willingness to stay longer, but it also translates into mood and relationships within the team.
Prague Research Forum announces data on the office market in Prague for Q1 2024:
Almost 71,300 m2 of office space is under construction, of which 82% will be completed this year.
In the first quarter of 2024, one office building was completed – Roztyly Plaza (21,700 m2). Thus, 80,300 m2 should be completed for the entire year 2024, significantly less than the long-term average.
Gross realized demand reached a total of 108,700 m2 in the first quarter of 2024, a year-on-year decrease of 19%.
Net demand was 46,000 m2 in the same period, 38% less than in the same period last year.
Net absorption was positive in the first quarter and reached 8,900 m2.
The vacancy rate increased 30 basis points from the previous quarter
to 7.5%.
The highest achievable rent increased slightly to EUR 27.50-28.00 per square meter per month.
The Dornych project of the Crestyl Group, which will replace the old shopping center in the neighborhood of the Brno Central Station in the coming years, will also offer a hotel. The Leonardo Hotels network will strengthen its presence in the Czech Republic with the opening of a new lifestyle hotel, NYX Hotel Brno by Leonardo Hotels. It will open in mid-2028 and will be the group's second hotel in the Czech Republic after NYX Hotel Praha, which opened in 2017. The Dornych project will offer a freely accessible public space flanked by several smaller buildings. The lower floors of the new buildings will be reserved for shops and services, while the upper floors will house rental housing and offices in addition to the aforementioned hotel. One of the buildings will be occupied by the EUC clinic.
This year, the city of Ostrava completed the preparation of a new strategic plan for the development of Ostrava with a view to 2030. The main vision is fundamentally unchanged compared to the previous plans. The efforts to connect the city internally and with the world and the revival of the historic core remain among the priorities. Closely related to this is the construction of new buildings that Ostrava will be proud of and which in a wider context will benefit the general public. However, the local government cannot satisfy such construction alone. Therefore, private investors become important drivers of urban development. Only an open and cooperative approach from both sides has the potential to meaningfully develop the city - with ecologically sustainable construction and valuable architecture.
The five largest rental transactions on the Prague office market last year were renegotiations, i.e. renegotiations of existing contracts. It is a route that companies whose leases are coming to an end are increasingly preferring before moving to new premises. The high costs of office equipment, the so-called fit out, which Prague has the highest in the region of Central and Eastern Europe and comparable to, for example, Paris, also contribute to this. Last year in Prague, they averaged 1,252 euros per square meter, which is an 8% year-on-year increase. The real estate consulting company Cushman & Wakefield provides an analysis of office equipment costs in its annual EMEA Fit Out Cost Guide.
The elegant organic curves of the new administrative building ORGANICA, which is behind the development company CONTERA, flow with the rather harsh urbanism of Ostrava. The floor plan of this building from the pen of Schindler Seko architects resembles a four-bladed propeller and thus refers to the history of the region. The facade gives the impression of a cog wheel that seems to fall out of the mining towers and grows through the greenery.
The company Savills is monitoring the changes in the approach of companies in relation to renting office space on the Prague market. Current trends are renegotiations, subleases, serviced offices, and there is renewed interest in reconstructed buildings. At the same time, second-hand spaces appear in the search engine of companies, where it is possible to take over a completed and often attractive interior, realized by another company. These changes are happening as a result of insufficient office construction in Prague, which is at its lowest level in at least the last decade. However, even such transactions can have a positive impact within the ESG strategy of companies - some existing buildings after reconstruction can meet the current demanding requirements for economy. According to the Savills survey, green rental contracts will become a completely common part of rental contracts by 2026.
The real estate company CPI Property Group (CPIPG) of billionaire Radovan Vítek is selling 53 retail properties in the Central and Eastern European region to the Austrian real estate company Immofinanz, of which he is the majority owner. The price is 324.2 million euros (almost eight billion crowns).
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