According to the current report of the real estate consulting company Cushman & Wakefield, the commercial real estate market in 2023 in the Central and Eastern European region saw a significant decrease in investment volume: year-on-year it was a 55% reduction to a total of 5.02 billion euros. The largest part of the capital went to the office sector, which also saw the most significant increase in income. Despite the complications, the market is showing resilience, especially in the logistics and residential sectors, which are the areas with the greatest potential for growth.
The development company Skanska has been demolishing the brutalist Merkuria building in Holešovice for a year and a half. The demolition period is indeed atypical, and there is a good reason for it – Skanska decided on a bold plan. In place of large excavators, on-site workers try to find other uses for all the material in the building, be it furniture, blinds, iron or concrete.
Even in the Czech Republic, we know how to build timeless workplaces that are maximally adapted to the needs of employees, energy efficient, sustainable and also architecturally interesting. The proof is the ČSOB branch in Králové-Hradec with a capacity of 1,050 jobs, which is one of the most modern of its kind in Europe. The building received the LEED Platinum certificate, which means that it meets the strictest ecological standards and is environmentally friendly. Schneider Electric, which equipped the building with modern technologies for energy management, made a significant contribution to achieving this level.
In the region of Central and Eastern Europe (CEE-6 countries), a significant increase in the GDP growth rate is expected this year, from less than 1% last year to approximately 2.5%. According to experts from the Colliers company, which belongs to the top in the provision of diversified professional services in the field of commercial real estate and investment management, activity will therefore begin to increase in the commercial real estate market in this region in the second half of the year. However, the condition for this development is a reduction in interest rates in the eurozone. At the same time, retail parks will continue to be the main engine of growth. Other trends and forecasts published by Colliers for the CEE region in 2024 will include:
There is a great demand for high-quality office space in Prague, thanks to which the owners of so-called A-class buildings in particular can be proud of almost full occupancy. The problem, however, is almost zero construction, experts agreed.
Investment group Penta, whose development activities are led by billionaire Marek Dospiva, bought from České drah long-term unused plots of land in Prague's Florenci, next to the Prague highway. Thanks to this, it can continue the project of two buildings designed by the Zaha Hadid Architects studio, which it completed this October near the Masaryk station. In addition, Penta plans to acquire additional parcels in the locality, thanks to which it would control the territory from Masaryk station to Pernerova Street in Karlín.
The developer company KKCG Real Estate has recently started the construction of a smaller residential project near Šárecký potok in Prague 6, in advanced preparation it has a commercial and administrative center in Karlín and a large housing project on the premises of the former state enterprise Chirana in Modřany.
One of the most watched buildings in Prague in recent years is gradually being completed. In September, Masaryčka was approved, cafes, restaurants and shops opened, and this week the last protective film was torn off from the gold coating on the facade of the building. But the work on the Penty Real Estate project under the investment colossus Marko Dospiva does not end. In the summer, a publicly accessible viewing terrace with a café is to be opened on the roof.
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