All posts by fletcher@cijeurope.com.

Zoning plan change for Žižkov freight station site approved

Prague city councillors have approved a modification of the zoning plan that will enable large-scale development on the land surrounding the former Žižkov freight station. Alongside the zoning change, the city also signed agreements with developers who will contribute financially and through land transfers to support the development of public infrastructure. This represents the largest zoning adjustment in Prague to date, paving the way for residential construction that could accommodate approximately 20,000 residents. Around 95% of the site will be designated for housing.

Deputy Mayor Petr Hlaváček stated that the new district will include both commercial and municipal apartments. City-owned plots are expected to support the development of approximately 150 apartments, with additional land, once property arrangements are finalized, providing space for a further 200 apartments.

Construction near the railway station, where no zoning plan change was required, is already underway by developer Central Group. The company will contribute CZK 441 million to the city, including funds for a kindergarten, a park, and land transfers. Sekyra Group has agreed to provide CZK 624 million, with CZK 411 million in cash and the remainder in land value. Penta has pledged CZK 122.5 million, partly in cash and partly in investments such as park developments. My Park will contribute CZK 10.4 million.

The new district will include five kindergartens designed for approximately 650 children and two primary schools with a combined capacity of 1,350 pupils. In addition, the city finalized an agreement last year with Czech Railways to purchase the historic freight station building. Plans for the site include extending the building to house school facilities, apartments, shops, and spaces for cultural activities.

Source: CTK

Constitutional Court to review stricter rules for Russian applicants for Czech citizenship

The Constitutional Court (ÚS) will review whether recent restrictions placed on Russian applicants for Czech citizenship are consistent with the country’s constitutional order. The Court has received a petition from 17 senators seeking to annul part of the so-called Lex Ukraine VII law. This legislation stipulates that Russian citizens can only acquire Czech citizenship if they submit proof of renouncing their Russian citizenship.

The senators argue that the measure discriminates against all Russian nationals, regardless of their personal stance or loyalty, and could unfairly penalize individuals who fled Russia due to repression or opposition to military actions initiated after the 2022 invasion of Ukraine. The petition is available on the Constitutional Court’s website.

According to the senators, the requirement is counterproductive and affects individuals who are likely aligned with the democratic values underlying Czech statehood. They contend that such individuals may never receive proof of termination of Russian citizenship, whereas those cooperating with Russian authorities might more easily obtain the necessary documents.

Representatives from different political groups have signed the petition. Senator Michael Canov (SLK) emphasized that he considers the rule unconstitutional, arguing it unfairly discriminates based on nationality.

The contested part of the law was introduced to protect the Czech Republic’s security and foreign policy interests in response to the Russian invasion of Ukraine. It requires Russian citizens applying for Czech citizenship to prove they have renounced their Russian citizenship, with exceptions for asylum seekers, individuals offering significant benefits to the Czech Republic, and descendants of Czech nationals.

The senators also highlighted that existing legal tools already allow the Czech Republic to deny citizenship applications for security reasons, without disclosing sensitive information to applicants.

Judge Pavel Šámal has been assigned to handle the case initially, but the final decision will be made by the full assembly of the Constitutional Court.

Source: CTK

Director of Czech Post: 2025 loss expected to fall below one billion crowns

The Czech Post’s loss is expected to fall below one billion crowns this year, according to director Miroslav Štěpán. Speaking on Czech Television’s Questions of Václav Moravec program, Štěpán said that while the parcel services branch will remain in deficit, the traditional postal services should reach a balanced economic result.

Since April, Czech Post has separated its commercial parcel and logistics services into a newly created branch, Czech Post – Parcel Service. This restructuring is a preparatory step before the planned establishment of Balíkovna as an independent joint-stock company. The management aims to find a strategic partner to support further development of the parcel business.

Štěpán emphasized that the Czech Post has optimized its internal processes to the extent possible. He noted that developing the Finite service will require an investment of two to three billion crowns, which should be financed by a strategic investor. He added that parcel services are a promising business sector, given consumer trends, but warned that if Balíkovna remains a state-owned company, its financial sustainability could be at risk.

Štěpán does not anticipate the sale of the main post office building in Jindřišská Street, Prague, this year, citing the complexity and length of the sale process. He stressed that the building remains important for the Czech Post’s operations. Beginning in May, a portion of the building will be leased to the Supreme Public Prosecutor’s Office to better utilize the space, given the building’s current excess capacity.

In addition, Czech Post recently took over selected employment office services without incurring additional costs. Štěpán mentioned ongoing negotiations to assume other public administration tasks, suggesting that Czech Post could manage local government fee collections, providing services in locations where municipal offices may not operate daily.

Preliminary results show that Czech Post recorded a loss of approximately CZK 1.25 billion in 2024, which was higher than the previous year due mainly to the unrealized sale of the Jindřišská building, originally expected to generate about CZK 1.4 billion. The organization aims to return to profitability following the completion of its transformation process, anticipated after 2026.

Source: CTK

Torus develops All.inn student housing project in Gdańsk

Torus is currently developing All.inn, a student-focused residential project in the Wrzeszcz district of Gdańsk. Located on Konarskiego Street, the facility is within walking distance of key universities, including the Gdańsk University of Technology, the Medical University of Gdańsk, and the Academy of Tourism and Hotel Management. Construction started in January 2025, with completion expected in the second quarter of 2026.

The project will offer 35 fully furnished rooms, each equipped with a private bathroom and kitchenette. Most units are designed for single occupancy, with some double rooms available, including one adapted for residents with reduced mobility. Altogether, the facility will accommodate up to 40 students.

All.inn will include shared spaces aimed at promoting both study and social interaction. These amenities will feature a communal kitchen and dining area, a fitness room, a lounge for relaxation, laundry and drying rooms, and designated quiet study rooms. Approximately 10% of the building’s total area is dedicated to communal use.

A private outdoor garden area of nearly 700 square meters will be reserved exclusively for residents. Surrounded by mature greenery, this space is designed for relaxation and informal gatherings.

Designed by Torus’ internal team, the building architecture incorporates traditional external elements, referencing nearby historic villas, combined with modern interior solutions. The project will be managed year-round as a dedicated student residence, without conversion into a hotel during summer months.

Torus, known for its office, hotel, and warehouse developments, is applying its experience to create a modern, maintenance-free residential environment tailored to students’ needs. MiMiD Group, affiliated with the Torus Group, is the investor behind the project.

All.inn is positioned in a well-connected part of Wrzeszcz, offering proximity to public transport, cultural venues, and commercial facilities.

State Housing Development Fund inspects rental apartment construction in Kráľov Brod

The Director-General of the State Housing Development Fund (ŠFRB), Milan Lipka, visited the construction site of a new rental apartment building in the village of Kráľov Brod yesterday. The inspection was carried out together with the ŠFRB oversight team and representatives from the Housing Policy Department of the Trnava District Office.

According to Lipka, the State Housing Development Fund regularly conducts such inspections to monitor compliance with project documentation, budget plans, and construction standards. The inspections aim to ensure that construction work, material use, and invoicing follow the ŠFRB’s requirements, and that any modifications are approved in advance to maintain continuity and quality.

“The purpose of these inspections is to identify any issues early, provide guidance to builders—in this case, the municipality—and ensure that projects financed through the ŠFRB meet high standards of quality and transparency,” said Milan Lipka during the visit.

Lipka emphasized the importance of his personal participation in inspections to maintain a direct understanding of project progress, which he can then use when consulting with local government representatives. “Our goal is to share recommendations and experiences that help municipalities prepare and manage their projects as effectively as possible,” he added.

During the site visit, Lipka also met with the mayor of Kráľov Brod, Gergely Agócs. Discussions focused on the current status of the construction and the steps necessary to complete the project successfully.

“We are building quality and affordable housing together for our citizens,” concluded Milan Lipka.

Investigation into possible collusion in municipal waste tenders in Lublin

The President of the Office of Competition and Consumer Protection (UOKiK) has launched an investigation into a potential anti-competitive agreement between companies operating in the municipal waste collection and management market in Lublin. Officials from UOKiK, supported by the police, conducted searches at the premises of Kom-Eko and Koma Lublin as part of the investigation.

According to a statement by UOKiK President Tomasz Chróstny, the office obtained information suggesting that the two companies may have coordinated their participation in public tenders. The allegations concern agreements on which tenders, or specific parts of tenders, the companies would submit bids for, and which they would avoid, possibly to limit competition.

“There are indications that the bids submitted by both companies in recent tenders may have been coordinated. We are currently analysing the evidence gathered during the searches,” said Chróstny.

The investigation focuses on tender procedures for waste collection and management services in Lublin dating back to 8 March 2018. The suspected conduct involves dividing tender opportunities between the companies, with each operating within a prearranged scope.

Currently, the investigation is being conducted regarding the situation and not against specific companies. Should the evidence confirm the suspicions, UOKiK may initiate formal antitrust proceedings and bring charges against individual entities. Participation in a competition-restricting agreement can result in financial penalties of up to 10% of a company’s turnover. Additionally, managers responsible for participating in collusion could face fines of up to PLN 2 million.

The investigation remains ongoing as authorities continue to review the collected materials.

Wyndham and Soliteight announce plans for 40 Super 8 hotels in Spain and Portugal

Wyndham Hotels & Resorts has signed an exclusive development agreement with Soliteight Hotel Projects SA to introduce the Super 8® by Wyndham brand to Spain and Portugal. The agreement outlines plans to open 40 hotels across the Iberian Peninsula over the next ten years. Soliteight, a leading hotel development and investment firm and existing Wyndham franchisee, will oversee the project.

The expansion aims to meet the rising demand for affordable, reliable accommodations, as both Spain and Portugal experience record tourism growth. Super 8, an established economy brand under Wyndham’s global portfolio of 25 brands and approximately 9,300 hotels, currently operates 14 properties across the EMEA region, including in Germany, the United Kingdom, and Saudi Arabia.

The first Super 8 in the Iberian market is scheduled to open in Leiria, Portugal, in the fourth quarter of 2027. Additional hotels will be developed in primary and secondary cities, near major transport hubs, retail centers, and along key travel routes. Many of the hotels will feature smart modular construction, focusing on efficiency and sustainability, aligned with Super 8’s brand standards.

Dimitris Manikis, President EMEA at Wyndham Hotels & Resorts, noted that the move supports the region’s growing need for accessible, budget-friendly lodging. “Our collaboration with Soliteight allows us to bring Super 8’s blend of affordability, modern comfort, and sustainability to key destinations across Spain and Portugal,” he said.

Tourism trends have shown strong growth, with Spain welcoming a record 94 million international visitors in 2024 and Portugal also reporting substantial increases. Despite this, the Iberian market lags behind other European countries in branded economy hotel offerings, presenting an opportunity for new developments.

Rui Alpalhão, Chief Executive of Soliteight, emphasized that the partnership will help address the gap for consistent, branded budget accommodations across the region.

HIH Invest acquires childcare centre portfolio in Mannheim and Heidelberg

HIH Invest Real Estate (HIH Invest) has acquired a portfolio of three childcare centres in Mannheim and Heidelberg for its open-ended special fund, HIH Zukunft Invest. The properties, which collectively offer more than 2,600 square metres of rental space, were purchased from CASA TWO GmbH & Co. KG, a Mannheim-based developer specializing in kindergarten projects. All three centres are leased to HULii GmbH, the largest independent daycare provider in the Rhine-Neckar region, under 25-year agreements.

The first property, located at Konrad-Zuse-Straße 9 in Heidelberg’s Rohrbach district, was completed in 2024. It offers 749 square metres of rental space across two floors, accommodating up to 65 children. The building features a green flat roof and is connected to the city’s district heating network.

The second centre, situated at Hessische Straße 47 in Mannheim’s Waldhof district, was completed in early 2025. It provides space for up to 80 children across 1,009 square metres on the ground and upper floors. The building incorporates an air heat pump for heating and a rooftop photovoltaic system for electricity generation.

The third facility, at Gärtnerstraße 53-54 in Mannheim’s Neckarstadt-West district, is under construction, with completion expected in the second quarter of 2025. It will offer 864 square metres of space across three full floors and an attic, with partial electricity supply from a rooftop photovoltaic system and heating from the district network of MVV Energie AG.

With this acquisition, the HIH Zukunft Invest fund now holds 20 properties, primarily new constructions, and continues to expand its focus on educational facilities such as daycare centres, schools, and university buildings across Germany’s growth regions. According to Senior Fund Manager Thomas Christ, the fund targets stable cash flows and a predictable annual distribution yield of approximately 4.5%.

Legal and tax due diligence was handled by Heuking Kühn Lüer Wojtek in Hamburg, while CASE Real Estate in Stuttgart oversaw the technical review.

aedifion launches smart energy management solution for buildings

Cologne-based PropTech company aedifion has introduced aedifion.dynamics, a new software solution designed to optimize electricity costs in building operations by leveraging dynamic tariffs and on-site energy generation. The tool enables automated demand-side management by intelligently coordinating flexible energy loads, such as photovoltaic systems, heat pumps, battery storage, and HVAC systems, to align with the most cost-effective electricity pricing periods.

The launch marks another strategic step for aedifion in advancing digital, climate-neutral building operations. aedifion.dynamics connects buildings directly to the energy market, allowing them to function as virtual energy storage units that respond in real time to changing grid conditions and pricing.

“Our solution for intelligent electricity cost optimization is a logical progression toward fully digital and sustainable building management,” said Dr.-Ing. Johannes Fütterer, CEO of aedifion GmbH. “With aedifion.dynamics, we offer real estate companies a practical tool to lower electricity costs, improve energy efficiency, enhance operational flexibility, and contribute to the broader transition toward electricity-driven heating.”

As of January 1, 2025, electricity providers in Germany are required to offer dynamic tariffs linked to real-time market prices. To take advantage of these rates, buildings must use smart meters and have compatible systems, such as heat pumps, electric vehicle charging stations, or battery storage.

aedifion.dynamics uses AI-driven consumption forecasting and real-time data to optimize when to draw, store, or use electricity. The software continuously analyzes grid fees, market conditions, and local energy production to enable more efficient and cost-effective building operations. It also integrates with a variety of sensors and third-party systems, offering a comprehensive solution for modern energy management.

Poland’s leading economic indicator falls in April 2025 amid weak orders and uncertainty

The Leading Economic Indicator (WWK), which signals future economic trends, fell by more than 1.6 points in April 2025 compared to March, reversing much of the growth recorded over the previous two months. The decline is attributed primarily to weak order volumes received by Polish companies, reflecting the country’s reduced competitiveness, ongoing slowdowns among major European trading partners, and elevated global political and economic uncertainty.

Of the eight components that make up the WWK index, two showed slight improvement, while six deteriorated compared to March. The most significant negative influence came from a renewed decline in incoming orders for manufacturing firms, particularly from domestic customers. Export orders showed a modest improvement, with industries such as electronics, car manufacturing, and other transport equipment reporting slower rates of decline compared to late 2024. In contrast, sectors including clothing, textiles, furniture, and wood manufacturing continue to experience notable challenges in export demand.

Some domestic industries, notably food and clothing manufacturing, recorded a slight increase in orders, though this is likely influenced by seasonal factors related to upcoming holidays.

The prolonged stagnation in orders and decreased production have contributed to a worsening financial situation for businesses. Across the manufacturing sector, the proportion of companies reporting a deterioration in their financial condition exceeds those reporting improvements by an average of about 15 percentage points. Sectors most heavily affected by declines in orders correspond to those reporting the greatest financial pressures.

On the Warsaw Stock Exchange, indices experienced a temporary downturn in April, largely attributed to shifts in U.S. customs policy under President Trump. Although markets recovered relatively quickly, underlying uncertainty remains.

Meanwhile, the M3 money supply in real terms, adjusted for seasonal effects, grew at a slower pace in March 2025 compared to February, increasing by nearly 0.4% versus 0.8% the previous month. Household debt from consumer bank loans also rose slightly, by nearly 0.2% month-over-month.

LATEST NEWS
23 December 2025 Global Vision Investment Fund S.A. signs a financing agreement for development with BCR   23 December 2025 HORIZON CITY Resumes Sales after Achieving Full Compliance with the “Nordis” Law 23 December 2025 Griffes Leases 6,000 sqm in Unirii View 23 December 2025 Greek Jewelry Brand Anna Maria Mazaraki Enters the Local Market and Opens Store in ParkLake 23 December 2025 Meta Estate Trust Inaugurates Retail Park in Ciolpani 19 December 2025 Bog’Art Published its Sustainability Report for 2024 18 December 2025 S19 Rzeszów Południe–Babica: concrete tunnel lining installation completed