Every building is given strengths and weaknesses by the architect. It is necessary to design technology in such a way as to eliminate the weak points as much as possible, and on the contrary to make appropriate use of the strong points. Technologies tend to be expensive, so it is essential to make maximum use of their potential and possible synergistic effects.
The first quarter of this year brought a revival of the Prague office market. Growing demand may encounter a lower availability of new premium spaces in the coming years, as only a smaller number of new projects are currently under construction. This can also affect the currently stabilized price level of rents. Serviced office centers and projects that comply with ESG principles are on the rise. This results from a quarterly market survey carried out by the Colliers company.
Coworking and flexible offices are one of the few industries that have been significantly boosted by the coronavirus pandemic. Although HubHubu, the operator of two shared spaces in Prague, had its occupancy reduced to 50 percent during the strictest closures, this year it is reporting that it is practically occupied. One of the reasons is the hybrid work style, to which a significant part of companies have reoriented. Instead of startups, flexible offices are increasingly being rented by larger companies as well.
Colliers, a leading company providing diversified professional services in the field of commercial real estate and investment management, published a survey of the Prague office market for the 2nd quarter of 2022. According to it, the vacancy rate did not change and remained at the same value as in the previous quarter. On the contrary, rents or service fees continue to rise. The volume of net realized demand is nevertheless the highest since the end of 2019.
The goal of the Orkla City project was to build a new headquarters for Orkla, a leading Norwegian supplier of consumer goods. The respectable 19,500 square meter office complex was opened in the spring of 2019 and is located in the Skøyen district of Oslo. Guardian Glass took care of the glazing.
A future consortium of predominantly domestic studios will determine the future shape of the area around the transport hub at Florence and Masaryk Railway Station. The winners of the urban design competition announced by investors Penta Real Estate and ČSAD Praha holding in cooperation with the capital are UNIT architects and studio A69 together with a London company with Slovak roots Marko and Placemakers. It specializes in urban regeneration and sustainable planning.
Different temperatures in different rooms, air control or reducing the energy intensity of a building by efficient use of alternative sources. These are just some of the benefits of building automation. It offers simplification of maintenance and significant financial savings, especially for large office buildings, hotels or industrial buildings. In the Czech Republic, however, we still have a long way to go compared to the West.
The more than a billion-dollar reconstruction of the functionalist building known as the Palace of Electrical Enterprises is almost complete. The unique building in Prague's Holešovice, which was originally completed in 1937, was successfully approved. Marketing, advertising and PR agencies, which are part of the multinational company WPP, will soon move into the renovated office space. The company, which will occupy almost 2/3 of the building, is now starting to prepare and implement its future offices. The Bubenská 1 project is one of the largest and most technically demanding reconstructions of a listed building in Prague.
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