July 20th, 2007 by Ines
From $211 for a single in low season to $735 for the Legend suite in high season, including full breakfast, 5 o’clock tea and parking.
What strikes you about Chateau Mcely is how close it came to suffering the same fate as many aristocratic manor houses that became disconnected from their owners by wars, communist rule and economic upheavals. By 2002, the chateau had fallen from being the country home of the Thurn-Taxis family, frequented by royalty and literary icons such as Mark Twain, to an empty ruin, seemingly suitable only for demolition.To read the whole text, click here.
July 20th, 2007 by Ines
Prague, CZECH REPUBLIC — GE Real Estate Central & Eastern Europe, along with Crestyl and Cheyne Capital, have acquired a ICKM Real Estate portfolio of residential developments in the Czech Republic in a € 100-million transaction.
As part of the transaction, Crestyl, a Czech development firm, will wholly acquire ICKM, a development management company. Since its creation in 1996, ICKM has built approximately 1,000 residential units in Prague.
To read the whole text, click here.
July 18th, 2007 by Ines
The Czech Republic, and especially the capital city Prague, is one of the most promising locations for real estate investment in the world. Many indications show that the strength of the market will continue in the coming years. Several factors relating to EU membership will bring further increases to property value. In 2006 or 2007, laws will likely adapt to allow citizens of all EU countries to purchase property as individuals (as opposed to current laws allowing foreigners to purchase property only through an established Czech company).To read the whole text, click here.
July 18th, 2007 by Ines
Following the First World War, the closely related Czechs and Slovaks of the former Austro-Hungarian Empire merged to form Czechoslovakia. During the interwar years, the new country’s leaders were frequently preoccupied with meeting the demands of other ethnic minorities within the republic, most notably the Sudeten Germans and the Ruthenians (Ukrainians). After World War II, a truncated Czechoslovakia fell within the Soviet sphere of influence.To read the whole text, click here.
July 14th, 2007 by Dino
ING Real Estate Management (ING REIM), the real estate investment arm of ING Group will buy the shopping gallery at the Felicia retail project in Iasi in a deal worth around 40 million euros, according to sources on the market.
Soconac, the local branch of the French Vinci Construction Grands Projects group, in partnership with Carrefour is developing the Felicia project. The investment is worth 40 million euros and will be completed this autumn. The shopping complex will include a Carrefour hypermarket covering 8,600 square metres and a shopping gallery covering 13,000 square metres, which will be taken over by ING REIM.
To read the whole text click here.
July 2nd, 2007 by Dino
ČSOB’s new real estate fund
Československá obchodní banka (ČSOB) launched ČSOB Property Fund for institutional investors of the ČSOB group of companies. In the future, other experienced investors will be able to invest in the fund, and within two years, the bank wants to offer the fund to retail investors. ČSOB Property Fund head Pavel Tichý said that ČSOB wants to allow more experienced investors to take advantage of favorable property prices.
QPG’s debut in Prague
Quinlan Private Golub (QPG) began work on the construction of Explora Business Centre, an office development in Prague 13–Nové Butovice. QPG plans three phases for the development with the first—the Jupiter Building—expected to be completed in fall 2008. The Jupiter Building will offer 21,000 square meters for lease, out of which nearly 2,000 sqm will be dedicated to retail. QPG is a real estate investment and development group with total assets built and/or under management of some € 7 billion (Kč 200 billion). The general contractor is Skanska CZ and the exclusive agent is Jones Lang LaSalle. The Jupiter Building’s construction costs are expected to reach Kč 860 million. The site is located above the Nové Butovice metro station and is adjacent to the planned Prague ring road. QPG didn’t disclose rent prices. Once completed Explora will create nearly 2,000 jobs.
To read the complete text, click here.