The largest publishing house in the Czech Republic, Albatros Media, a.s. is moving to new offices. It will occupy almost 2,200 m2 in the Mayhouse building on Prague's 5.května Street. The publishing house will operate at the new address from September 1, 2021.
The total volume of transactions in the commercial real estate sector in the Czech Republic should reach 1.2 billion euros this year. This is a 63% decrease compared to last year, which was above average successful. If we also take into account the complications that the coronavirus pandemic has brought to the economy, the result is relatively satisfactory and testifies to the continuing appetite of investors. In addition, we can expect a further increase to almost double this year's volume next year. It is also positive that real estate prices still remain stable.
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.
The Flow Building, a multi-purpose project of Flow East on Prague's Wenceslas Square, is the first building in the Czech Republic to achieve the highest possible "Outstanding" rating according to the current BREEAM certification scheme.
Prochazka & Partners follows up its spring client research on the future and use of offices. The survey, which takes place during the second lockdown, which the Czech Republic is now facing, was attended by almost 100 companies with a floor area of over 350 thousand. m2 (approximately one tenth of the Prague market). The company most often solves the current crisis by looking for a subtenant (16.5%), reducing office space (11.5%) or negotiating a lease on more favorable terms (8.2%). On the contrary, 9.8% of respondents are thriving and expanding despite the crisis. The rest (54.1%) then waits for the end of the lease, as current conditions prevent them from resolving the situation more effectively.
SkyTower, the tallest building in Romania, announces the implementation of Spaceflow community management mobile application, a digital communication and interaction platform dedicated exclusively to its tenants. The mobile app offers a fast-digital connection to a variety of services and facilities and a direct connection to the community life in the tower.
The COVID-19 pandemic spurred the involuntary evacuation of offices and led companies and employees to experiment with full-time work from home. Some prognosticators are now declaring that demand for offices will decline over the long term. But are such forecasts realistic?
The Prague Research Forum reports that a total of 21,200 m2 of office space was completed in Prague during the third quarter of 2020, bringing the total volume of modern offices to 3.73 million m2. The newly completed premises include three newly built buildings - AFI City 1 in Prague 9 with 15,900 m2, the Office Building of Czech Ports in Prague 7 with 2,800 m2 and Poděbradská Centrum in Prague 9 with 2,400 m2.
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