A fund of the Generali insurance holding has sold a set of properties in the centre of Prague. The new owners of the individual houses are two companies, a manufacturer of sanitary equipment and a developer. All parties refused to comment on the transactions in detail, writes the online daily Seznamzpravy.cz.
On the border of Prague's Vinohrady, Žižkov and Strašnice districts, a new district will be created by the Czech development group Crestyl, which will connect the city with its green surroundings. The new project will offer not only office and residential space, but also a place for leisure and relaxation amidst the greenery. The project will include six office buildings and five residential buildings, with office space exceeding 80 000 sqm.
In recent years, the real estate business of Penta Investments has grown considerably. The company has invested almost CZK 50 billion in residential and office development projects and managed a portfolio worth more than CZK 27 billion at the end of last year. Currently, the group's real estate portfolio is concentrated in Prague and Bratislava. Marek Dospiva, one of the group's co-owners, is considering diversifying the portfolio and expanding abroad.
Brownfield between Milady Horákové and Koliště streets will soon be replaced by a new office building designed by a53 architects. After a complex acquisition process, the land was purchased from the Italian owners by Trikaya, a company specialising in the construction of residential and retail projects in Brno.
The gap between OC Forum Nová Karolina and Ostrava's historic Trojahali has already been filled with rough construction of the Organica office building. On the site of a former brownfield, it will offer 23,300 sqm of 2,300 sqm of offices and shops. "We will hand over the space to the first clients for use in the second half of next year." says Martin Budina, project director at Contera.
