The Česká spořitelna Real Estate Fund (ČSNF) buys the Bořislavka Centrum shopping and administrative complex from the KKCG Real Estate Group (REG). Through the acquisition, the fund increased the number of buildings under its management to 21 and the value of its real estate portfolio exceeded 38 billion crowns. This follows from the press release of the investment group Karel Komárek KKCG. The amount of the transaction was not stated by the parties.
Award honors Schneider Electric’s longstanding commitment to sustainability and market-leading digital solutions that help customers meet their Sustainable Development Goals
Together with Microsoft, Schneider Electric supports customers such as JLL and Blackstone to develop and achieve decarbonization ambitions
Marks Schneider Electric’s 30-year global relationship with Microsoft and their shared vision for a sustainable future
Gross take-up on the Prague office market in Q2 2021 amounted to 89,300 sqm, representing a 5% decrease on the previous quarter but a 10% increase in a year-on-year comparison. The Prague Research Forum has published the office market figures for the past quarter.
The coronavirus pandemic significantly affected office work. According to the Prague Research Forum, the share of vacant office space in the total supply in Prague increased from 6.98% at the end of 2020 to 7.6% in Q1 2021. The vacancy rate increased by 220 basis points year-on-year and reached the highest value since 2 quarter of 2017. However, not all office centers have struggled with the outflow of demand in recent months. At the time of the coronary crisis, both the landlords' approach to their tenants, who eventually got into trouble, and the famous ratio between quality and price played a key role. And in these respects, Class B offices often came out victorious. For example, Nagano Park, an administrative complex in Prague 3 - Třebešín, under the management of Geosan Development, recorded an increase in occupancy from 89.95% in February 2020 to the current 93.94%. New tenants include, for example, the state-subsidized organization Service Facilities for the Ministry of the Interior or Advande Labs.
"The pandemic has changed our perspective and needs, and from 2020 the safety norms implemented by office buildings matter a lot for tenants in the decision to rent new spaces," says Adriana Dragosescu, CEO, RPHI Romania. She told us in an interview that the measures, efforts and strategy of an office building on safety rules will most likely be in the top three criteria in making a decision.
Since property asset managers deal with several types of property data and data entries on a regular basis, compromised data quality – whether it’s obsolete, incomplete, inaccurate, or contains errors – is a common issue. This isn’t a problem specific to real estate property management, it’s a problem with data management in general.
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.
CA Immo has entered into a lease agreement with the international group BATIST Medical Holding for 1,000 square meters in the Missouri Park office building, which is currently under construction. The area of Prague 8 - Karlín belongs to the premium office locations and in combination with the high quality of this building we managed to achieve a record amount of rent for this city district as well.
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