Passerinvest Group, the Czech development company behind, among other things, the development of the vast area known as Brumlovka in Prague 4, has presented its plans and strategic investments for the next five years. During this period, it will bring a total of 180,000 square meters of office, residential and retail space to the market. Along with the construction, it will also focus on the transformation and cultivation of 5.5 hectares of public areas - parks, relaxation zones and water areas.
Golden Prague can boast another “golden” building. This time, however, it is not a traditional monument, but an innovative approach to modern construction. The Dunaj Palace, a newly renovated office building in the heart of the historic center, has achieved the internationally recognized LEED “Gold” certificate, which is synonymous with high ecological standards. The almost century-old building on the corner of Národní and Voršilská streets has undergone a sensitive renovation in recent months under the leadership of Zeitgeist Asset Management and with the support of Prague’s conservationists. The prestigious certification was achieved thanks to the active cooperation of all project participants and the company Grinity, which led the entire process as a LEED consultant.
One of the landmarks of the Prague metro station Budějovická is changing hands. With the sale of The Square building, the investment company of the Amundi group completes the successful sale of projects from its 1st real estate fund. The new owners are the Czech real estate group Mint, which has previously managed the building for Amundi Realitní fond KB, together with private investors. The financing of the transaction was provided by Komerční banka. The new owners plan to invest in the building from the beginning with the aim of improving the building's energy efficiency and increasing its long-term attractiveness for tenants.
The fourth quarter of 2024 was the second quarter in a row when no office project was started in Prague. It was also the period when only one project was completed, 100Yards in the city center. The vacancy rate remains very low, increasing by only approximately 0.2 percentage points year-on-year. The total volume of modern office space at the end of 2024 reached 3.96 million square meters, which is less than in Warsaw or Budapest. The highest achievable rent in the city center is currently EUR 29.50 per square meter per month. 2025 could bring slightly higher construction activity, thus moving the market again. This is according to a regular quarterly survey by Colliers.
The new administrative building Roztyly Plaza, built by Passerinvest Group in Prague's Roztyly, was announced as the winner of the Best Office Development of the Year 2024 category of the prestigious CIJ Awards. It recognizes the most beneficial achievements and personalities of development.
At the gala evening of the 26th edition of the Best of Realty competition, organized by the Association for Real Estate Market Development (ARTN), the best development projects of 2024 were announced. In individual categories, awards were given to projects that are exceptional in their contribution to the location, architectural and urban concept, quality of implementation, or their approach to sustainability and innovation.
CBRE, the world leader in commercial real estate services, is celebrating 25 years on the domestic market. During the same period, the market underwent significant changes and matured into a stable investment environment that can withstand international competition and attracts domestic and foreign capital.
As part of the 32nd edition of the Building of the Year competition, which is organized annually by the Foundation for the Development of Architecture and Construction, the Roztyly Plaza administrative building of Passerinvest Group was awarded the prestigious title of Building of the Year 2024. It received the title for the purity of the building's architectural and structural design and its urban concept location in the area immediately following the Krčský les. According to the jury, the building is an example of modern administrative architecture, which destroys the stereotypical ideas of the lay public about office buildings as "glass-concrete hells" taking up public space. The jury was also impressed by the building's friendliness, well-thought-out shape solution, accessibility and connection of the external and internal environment.
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