Skanska begins construction of Czech Republic’s largest wooden apartment building in Prague

Skanska has launched construction of its D.O.K. residential project in the Radlice district of Prague, a 1.6 billion CZK development that will feature the country’s largest wooden apartment building upon completion. The project, scheduled for delivery in 2027, will comprise three buildings with a total of 177 apartments.

Located on a redeveloped brownfield site along Radlická Street, near the Radlická metro and tram station, the complex has been designed by Jakub Cigler Architects. The scheme includes the “Dřevák” building, which will set a new benchmark for timber construction in the Czech Republic.

“The D.O.K. area creates a calm, well-structured inner courtyard, offering views of the adjacent natural landscape and the Radlická Valley, while maintaining both connection to the surroundings and a sense of privacy,” said Jakub Cigler, founder of the architectural studio.

Apartment layouts will range from compact 1+kk units to larger 4+kk homes with terraces, as well as one 5+kk unit. Prices start at around CZK 6 million for a 34 m² 1+kk and reach up to CZK 24 million for a 115 m² 4+kk. All buildings will meet the highest energy efficiency standards and incorporate sustainable features such as green roofs and water recycling systems.

The project comes amid recent regulatory changes that have expanded the permissible height for wooden structures from 12 meters to 22.5 meters, enabling more ambitious timber developments. Until now, multi-storey wooden residential projects have been rare in the Czech Republic, with notable examples including UBM’s Timber Prague in Řeporyje, part of the Arcus City complex, and planned rental housing projects in Žďár nad Sázavou by Dostupné bydlení České spořitelny.

UFA to relocate headquarters to BE.YOND OFFICE Berlin in 2026

The Empira Group has secured UFA, a major German-speaking media company, as a tenant for its BE.YOND OFFICE Berlin project at Schöneberger Ufer 69. UFA will relocate its corporate headquarters from Potsdam-Babelsberg to Berlin in 2026, occupying approximately 2,840 sq. m across the building’s top three floors, including rooftop terraces with views over the city.

The move is part of UFA’s broader strategy to position itself closer to industry talent and partners. The new headquarters is intended to support a collaborative, flexible, and sustainable work environment in line with the company’s cultural transformation.

BE.YOND OFFICE Berlin, acquired by SORAVIA and also home to DATEV since February 2025, is being developed with a focus on sustainability and contemporary workplace standards, aimed at attracting companies from creative and knowledge-based sectors.

HIH extends Solingen Town Hall lease until 2050

HIH Invest Real Estate has signed an early extension of its lease agreement with the city of Solingen for approximately 12,458 square meters in the town hall complex at Walter-Scheel-Platz 1. The new agreement secures the tenancy until the end of 2050 and includes commitments for energy efficiency upgrades and preparatory work for renewable energy installations.

The property, part of a special fund managed by HIH Invest Real Estate, comprises three buildings. Building A, which accounts for 10,786 square meters — around 70 percent of the total space — had been leased in full by the city until 2038. The new extension brings that term forward by 12 years. Additionally, the city extended its lease for 1,688 square meters of office and storage space in Building C. The remaining 2,000 square meters in Buildings B and C are occupied by retail, therapy, and office tenants. The city’s lease also covers 129 parking spaces.

As part of the lease agreement, HIH will convert the leased areas to LED lighting and carry out a full roof renovation to enable the installation of a photovoltaic system by the municipal utilities. HIH will oversee the planning and construction work required for the PV installation.

Ken Kuhnke, Head of Key Account Management at HIH Real Estate, noted that the agreement reflects ongoing dialogue with major tenants: “The municipality’s plans for LED conversion and renewable energy were incorporated into a comprehensive leasing package. By combining these measures with the lease extension, we created a long-term solution that meets the city’s needs and supports its sustainability goals.”

Frederik Lammersen, Co-Head of Fund Management at HIH Invest, highlighted the company’s proactive tenant engagement: “We aim to be a strategic partner rather than just a lease administrator. Close cooperation between asset management and fund management allows us to identify tenant requirements early and respond quickly with tailored solutions.”

Modern technology in historic buildings: Navigating the challenges of museum modernization

Poland’s market for adapting historic buildings is expanding by about 15% annually, as developers increasingly see value in restoring heritage properties such as old factories and Renaissance palaces. These projects often achieve rents 20–35% higher than standard office buildings, largely due to the integration of advanced HVAC systems. However, installing such technology in historic structures presents both technical and regulatory challenges.

According to Marcin Kosieniak, MEP specialist and co-owner of PM Projekt, early consultation with heritage conservators is critical. “Any visible changes to a façade, vaulted ceilings, or interior details can be questioned. Even minor elements like ventilation grilles require approval in listed buildings,” he notes. The lack of space for technical infrastructure in historic structures means HVAC components must often be hidden within cornices, built-in furniture, or behind parapets on rooftops.

Museums present additional complexities. Climate control is essential not only for visitor comfort but also for protecting collections. Advanced building management systems, automated blinds, air-flow algorithms, and heat recovery systems are used to maintain strict temperature and humidity levels. In a Wrocław museum modernization project, the HVAC system was designed to respond automatically to occupancy levels, regulate sunlight exposure, and reuse recovered heat for dehumidification.

Historic buildings, often built with vapor-permeable materials and without moisture insulation, require careful ventilation planning to avoid dampness, condensation, and material degradation when repurposed for functions with higher humidity loads.

While installation costs in historic buildings are typically 30–50% higher due to custom solutions and conservation requirements, operational savings can be significant. Modern HVAC systems can reduce energy costs by 30–40%, translating into substantial annual savings for large facilities. Investors who lead in adapting heritage properties with high climate standards can secure a competitive advantage, offering unique spaces with environmental controls comparable to new-build offices while commanding premium rents.

Geosan Development secures permit for 283-unit Re.Start Petynka project in Prague 6

Geosan Development has obtained a valid building permit for its Re.Start Petynka residential project in Prague 6, with construction scheduled to begin in September 2025 and completion expected in the third quarter of 2028. The development will be built on a long-vacant site near the Petynka swimming pool and will comprise 283 residential units across nine floors. Approximately 40% of the apartments have already been sold.

Initial sales were dominated by smaller one- and two-room units, but interest in larger layouts and premium apartments on the upper floors has increased. The later sales phases will include maisonette units and four penthouses with terraces, green atriums, and views of Prague Castle.

The project offers a mix of compact studios, two-room apartments, practical family layouts, and high-end units. Smaller apartments, with sizes up to 30 m² for studios and up to 48 m² for two-room layouts, have attracted investor interest due to their suitability for both long- and short-term rentals.

A commercial section on the ground floor will provide retail and services for residents and the surrounding area. Negotiations are underway with potential tenants, including a supermarket, with announcements expected during construction.

Re.Start Petynka is located in a quiet residential area with access to green spaces such as Kajetánka Park, Maxe van der Stoela Park, and the gardens of Břevnov Monastery. Local amenities are available on nearby Bělohorská Street, while the Nový Smíchov shopping center is a 10-minute drive away. The site is well connected by public transport and car, offering a balance between city accessibility and a calm neighborhood setting.

Green hydrogen expansion in Germany unlikely to strain water resources, but location still key

A study by the German Institute for Economic Research (DIW Berlin) concludes that Germany’s planned expansion of green hydrogen production will not create widespread water shortages, although local water availability could influence where new electrolysis plants are built. The analysis, based on model projections for 2030, finds that water demand for electrolysis will remain low in relation to total water consumption in nearly all regions, even under scenarios of significant hydrogen production growth.

Germany currently consumes about 46 terawatt hours of hydrogen annually, most of it “grey hydrogen” made from natural gas. By 2030, demand is expected to more than double, with a substantial share coming from green hydrogen produced using renewable electricity and water. The study finds that if the federal government’s planned hydrogen core network is completed, production could be concentrated in areas where both renewable energy and water are abundant, particularly in northern states. Without the network, production would be more decentralized and closer to industrial consumers, but even then, water demand for electrolysis would generally remain below 0.5% of state-level water use.

The cost of water for electrolysis is minimal, averaging around 0.6% of total production costs, assuming the pipeline network is in place. The DIW researchers recommend accelerating network development to allow siting in regions with stable water resources and integrating water stress considerations more explicitly into permitting and subsidy processes. They also suggest improving transparency on water pricing to assess its role in investment decisions.

Electrolysis uses electricity to split water into hydrogen and oxygen, requiring about nine liters of purified water per kilogram of hydrogen produced, plus additional water for cooling. In cases of freshwater scarcity, desalinated seawater could be an alternative, though at higher cost. The study estimates that meeting Germany’s target of ten gigawatts of electrolysis capacity by 2030 would require about 26 million cubic meters of water annually — roughly 0.15% of current national water withdrawals.

Source: DIW Berlin

Deka Immobilien sells health centre in Finland

Deka Immobilien has sold an health centre in Helsinki for around EUR 100 million. The property is part of the real estate assets of the open-ended real estate fund WestInvest ImmoValue, which targets exclusively institutional investors. Finnish investor VVT, which specialises in commercial real estate in Finland’s largest cities, is acquiring the property for its VVT Property Fund ll KY fund.

The Kalasatama Health Centre comprises 19,800 sqm of leasable space and 35 parking spaces. It is located around three kilometres east of the Central Business District, directly on the coast in the Finnish capital. The property was completed in 2017 and is fully leased on a long-term basis with the City of Helsinki as the main tenant.

The sale sees the fund management of WestInvest ImmoValue taking advantage of a favourable sales opportunity while at the same time divesting itself of a property that no longer aligns with its strategy. Investors have generated a positive performance contribution with the property over the holding period of around ten years.

Photo: hel.fi

Savills Poland completes 25,000 sqm in office lease deals in H1 2025

Savills Poland’s tenant representation team completed lease transactions totaling around 25,000 sq m in the first half of 2025, covering both Warsaw and several regional cities. The deals reflected varied client requirements and a broad geographic scope, underscoring shifting priorities in the office market.

The largest share of activity took place in central Warsaw, particularly in Śródmieście, where more than 13,000 sq m was leased. Mokotów, another key business hub in the capital, accounted for nearly 8,000 sq m of transactions. In Wrocław, the team advised on agreements for approximately 3,000 sq m. Most transactions involved lease extensions and relocations within existing office stock.

A notable deal during the period was the renegotiation of XTB’s lease in the Skyliner office building in Warsaw. The agreement, covering nearly 4,400 sq m across three floors, secures the fintech company’s presence in the tower for the coming years.

Savills advised a range of clients from sectors including finance, IT, tax advisory, light manufacturing, and healthcare. The team’s approach focused on tailoring leasing strategies to each tenant’s operational needs, with growing emphasis placed on building quality, flexible lease terms, and efficient space use—factors increasingly prioritised as workplace models evolve.

Savills’ involvement in this process enabled the development of solutions tailored to the tenant’s long-term needs, taking into account the flexibility of the agreement and the optimal use of the available space. Thanks to our support, XTB was able to make an informed decision to continue its operations in a prestigious location, which is in line with the strategy for further growth of this dynamically expanding organization, comments Karol Grejbus, Associate Director, Office Agency, Tenant Representation, Savills Poland.

“We are seeing an increasingly conscious and selective approach to office space planning by companies. The quality of the building, flexible lease terms and optimal use of space are becoming increasingly important. This is the result of the evolution of the work model and growing tenant expectations,” says Jarosław Pilch, Head of Tenant Representation, Office Agency, Savills Poland.

Outlet Park Szczecin expands with new regional brands and store upgrades

Outlet Park Szczecin, owned by EPP and the only outlet center in Western Pomerania, is expanding its fashion and services portfolio with several new and relocated tenants. Three brands – JACK & JONES, Evenemen, and premium optician OUTLY – have made their regional debut at the center. JACK & JONES, a global denim brand, has opened its first store in the province, while Polish menswear brand Evenemen has launched its first Szczecin location, offering formal clothing and accessories. OUTLY has also opened, bringing a selection of designer eyewear and on-site eye testing.

In addition to the new openings, footwear retailer eobuwie is scheduled to launch in the autumn with a multi-brand offer covering casual, premium, and sports styles. Several existing tenants have expanded their presence, including VENEZIA, TATUUM, WITTCHEN, and Pako Lorente, adding more space to their stores. Meanwhile, Lee Wrangler and German Optiker have relocated within the center, introducing refreshed interiors to better showcase their ranges.

The recent changes cover almost 1,800 sqm of retail space. According to EPP, the combination of premium brands with outlet pricing, alongside leisure and service options, has been key to maintaining high occupancy levels and ongoing tenant interest. The mix of long-standing retailers expanding their space and new regional entrants reflects the center’s strategy to strengthen its offer and maintain its position in the local retail market.

AFI Home retains 70% of tenants as demand for modern rental housing grows in Prague

AFI Home reports that 70% of tenants in its Prague rental portfolio have renewed their leases for another year, according to data for the first half of the year. The company manages nearly 900 apartments across several locations, with only 30% of units returning to the market for new tenants.

The retention rate is attributed to a combination of stability, service quality, and convenience. AFI Home properties offer 24/7 security, professional maintenance, and amenities such as supermarkets, laundry facilities, coworking spaces, and well-designed communal areas. Fully furnished apartments, available for immediate occupancy, have proven popular among expatriates, young professionals, and tenants in transitional situations.

Tenants who do leave typically do so for work-related relocations. AFI Home operates residences including AFI Home Třebešín, AFI Home Karlín, and AFI Home Kolbenova, all located with access to public transport and local services.

The company is expanding its portfolio with two major developments: AFI Home Nová Elektra, offering 291 apartments, and AFI Home V Korytech, which will add 519 units. Both projects will include additional services intended to enhance tenant convenience and meet demand for modern rental housing in Prague.

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