The international law firm CMS and the European Investment Bank (EIB) have rented office space in the newly renovated Palác Dunaj building on Národní třída. The total occupancy has now reached almost 80%. Only one floor of offices and retail units on the ground floor of the building remain vacant, though negotiations with potential tenants are already underway here as well.
Skanska's latest and largest administrative project in the Czech Republic, Port7, received the prestigious LEED Platinum certification in the latest v4 version. According to available information, the project received the best rating of all commercial projects built last year in the Czech Republic. Buildings D and E even ranked among the best in the ranking of the most sustainable office buildings in Europe certified in 2023. Demanding environmental criteria were followed both during construction and now during the building's operation. Skanska was able to obtain 3 platinum certifications at once in the campus certification scheme.
The share of foreign and Czech companies based in Prague offices is equal. Although almost three-quarters of them are currently occupied by foreign companies, the demand for new premises is more domestic companies. Established foreign companies in many cases prefer to stay in established locations and renegotiate existing leases. One of the reasons preventing the further arrival of foreign companies on the Czech market may also be insufficient construction of new areas. Therefore, companies often look for locations for their centers in other European cities, this follows from the comments of experts and the findings of ČTK.
Colliers, a leading professional services company in the field of commercial real estate and investment management, has released its forecasts for the Central and Eastern Europe region for 2024. The GDP growth rate is expected to increase and therefore the activity in the commercial market. What are the other key points and trends from the Colliers predictions?
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.
Savills recorded 40 transactions closed in 2023 in the commercial real estate sector with a total investment volume of €1.2 billion. The volume of investments was 32% lower in 2023 compared to 2022. The driving force behind real estate investments in 2023 was the retail sector, which accounted for 43% of the total investment volume. Domestic investors are undoubtedly the backbone of the Czech investment market. Not only are they the most active and have concluded 29 transactions, but they also account for the largest (80%) share of investment volume this year. 31% of investment transactions in 2023 took place in Prague
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.
The Scott.Weber Workspace company, which operates flexible offices, coworking and event spaces, is buying the Base coworking center from Penta Real Estate, which is part of the Churchill office complex in Prague 2. The companies did not state the price in the announcements, according to ČTK sources, the value of the transaction did not exceed hundreds of millions of crowns. Base will be the 13th Prague branch belonging to the Scott.Weber network.
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