After a year of fighting the pandemic, we are reaching a turning point, according to a JLL study. Covid 19 has transformed the world in a way that will affect business many decades ahead and adjust the traditional conditions of where and how we work. It turns out that approved vaccines are a promise for a return to normal life, but it will be different, and the question arises as to what our world will look like and how companies are preparing for it.
International real estate operator IMMOFINANZ, known for its STOP SHOP shopping parks, VIVO! and office real estate myhive, has committed to compensating all energy consumption in the Czech Republic exclusively with renewable sources since 2021. An environmental certificate issued by the energy supplier, Pražská energetika (PRE), recently confirmed IMMOFINANZ's responsible behavior and consideration for the environment in which its focus on sustainable development and its commitment to a green future.
The prolific change of 2020 has shaped the real estate industry more than anything else in decades. The digitization had been underway before the pandemic, but the speed of that shift has accelerated in ways that nobody could have predicted.
Due to the covid-19 pandemic, investors were more interested in waiting tactics in part of last year. This gave them enough time to carefully assess the risks and better assess the next steps. Therefore, the second year with coronavirus starts with increased activity. According to the current CBRE survey of commercial real estate investors, 50% of companies active in Central and Eastern Europe expect increased transaction activity this year.
Alza.cz used a year-long work from home to complete the reconstruction of part of its headquarters in Prague's Holešovice. Its employees now have a large café for meeting colleagues, a greenspace full of live plants with shared jobs and 42 meeting rooms on an area of over 10,000 m2. One of them is in a restored van Saviem from 1961.
Travel restrictions and the inability to meet in person have caused a lot of headaches for many market players but in many cases, it also provided certain types of investors with an advantage. Pavel Streblov, Business Director at Penta Real Estate talks about the company’s development and investment strategy and shared his expectations for the year ahead.
The PASSERINVEST Group concluded a significant transaction, which will evidently be one of the largest real estate deals of the year, with the sale of the Nová Karolina Park office building in the centre of Ostrava. The investment group RT TORAX Group became the new owner.
Petr Narwa, Head of Transaction & Consulting Services at Prochazka & Partners, who has long been involved in commercial real estate and investment services, answered the interview. What does Petr say about the current situation in the market, where tenants are currently trying to save as much as possible and where the pandemic has disrupted the income of real estate investors?
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