Czech Housing Fund reports 9.44% annual return, expands portfolio to CZK 1.2 billion

Fond Českého Bydlení SICAV, a.s. (Czech Housing Fund) reported a 9.44% annual return for 2024 and expanded its real estate portfolio to CZK 1.2 billion, reflecting a year-on-year increase of 146%. According to the Nemovitostni-fondy.cz portal, the fund ranked among the top three performing real estate funds in the Czech market last year.

As of 2025, the fund manages 551 apartments, marking a 187% increase from the previous year. With a loan-to-value (LTV) ratio of 19%, the fund maintains one of the lowest debt levels among Czech real estate funds.

Co-founder Jakub Kořínek stated that the fund is in an active growth phase, with recent acquisitions in Příbor, Beroun, and Chomutov and plans for further expansion. Investors who have been with the fund since its establishment in 2018 have seen total returns of 63.66%.

Since 2022, the Czech Housing Fund has averaged portfolio growth of 9.14% per year. Co-founder Tomáš Novák emphasized the fund’s target of maintaining annual returns between 9% and 10%. The fund’s assets under management (AUM) reached CZK 1.029 billion in 2024, up 136% year-on-year.

According to dividend class head Lucie Šimková, the fund’s return increased by 1.17 percentage points compared to the previous year. The dividend class, launched mid-2024, posted a 6.02% return for its first months of operation.

The fund’s investment focus remains on regional rental housing, particularly in the Ústí nad Labem and Moravian-Silesian regions, where historic industrial housing estates offer investment potential. The portfolio also includes properties in Znojmo, Plzeň, Liberec, and, since 2022, in Slovakia.

Currently, the fund manages 21 properties across 13 locations, totaling 33,792 m² of leasable space, including residential and non-residential units.

Concens Investments rebrands as Gridarch amid expansion plans

Czech development company Concens Investments has rebranded as Gridarch, marking a new phase of expansion and growth. As part of the change, all upcoming development projects will carry the unified name Gridarch Park, with the exception of the established Ostrava Airport Multimodal Park, which has grown into a key Central European logistics hub.

The company has also relocated its Prague headquarters to Revoluční 1, Prague 1, reflecting its broader operational and team expansion.

“With my appointment as CEO at the start of 2024, we launched a strategy focused on significant growth,” said Tomáš Novotný, CEO of Gridarch. “We are advancing our plans successfully — not only by expanding the Ostrava Airport Multimodal Park, but also by preparing new commercial and industrial zones and acquiring building plots in strategic locations. This business growth has required us to increase our workforce, expand our project team, and establish a new representative office in central Prague. Our transformation is now symbolized by our new brand, under which we’ve been operating since mid-April.”

Gridarch specializes in the development, construction, and leasing of modern industrial and logistics properties. Since 2018, it has led the development of the Ostrava Airport Multimodal Park in Ostrava Mošnov, which currently spans 300,000 m² of industrial space. Part of the complex is co-owned by the U.S.-based investment firm EQT Real Estate (formerly EQT Exeter). Gridarch is also advancing the preparation of additional commercial and industrial zones across the Czech Republic.

Skills-based hiring gains ground, moving beyond diplomas

More companies in Poland and globally are shifting away from traditional degree requirements and focusing on skills-based hiring, a recruitment approach that prioritizes candidates’ practical abilities over formal education. Major international firms like IBM, Google, and Revolut are already applying this model, and research shows that 81% of companies worldwide adopted it in 2024, up from 57% in 2022, according to the TestGorilla State of Skills-Based Hiring 2024 report.

The model relies on assessing candidates through competency tests, practical tasks, micro-certifications, or work portfolios, rather than university degrees or CVs listing educational backgrounds. McKinsey reports that skills-based hiring is five times more predictive of job success than educational qualifications. At the same time, companies like Revolut have cut recruitment times by as much as 40% using this approach.

In Poland, the trend is gaining momentum. According to experts from Personnel Service, this method broadens the available talent pool — by up to 6.1 times in some sectors like artificial intelligence and green technologies — improves team diversity, raises retention rates, and reduces recruitment costs.

“It’s not about the paper, it’s about skills,” said Krzysztof Inglot, labour market expert and founder of Personnel Service. “In today’s rapidly changing world, hiring people based on their real competencies is no longer just a trend; it’s a necessity. But many companies still stick to superficial changes — to truly benefit, they need comprehensive systems for assessing skills and fostering continuous employee development.”

This approach can open doors for candidates without formal higher education, allowing companies to better adapt to evolving market demands, especially in technology, logistics, customer service, and analytics.

Source: Personnel Service

Financial portrait of young Poles: Focused on savings, development, and lower debt

Young Poles are showing signs of increasing financial maturity, according to new data from the BIG InfoMonitor Debtors Register and the BIK credit database. People aged 18–24 have reduced their total arrears by PLN 172 million compared to a year ago, bringing the total to around PLN 873 million as of February 2025. About 65% of young respondents say they have no outstanding debts, whether credit-related or not.

Research commissioned by BIG InfoMonitor shows that 29% of young people fully met their financial plans last year, more than any other age group (24%). Looking ahead, 18% plan to spend more on education and professional development, compared to just 7% among older generations. Spending on personal development even outranks spending on leisure activities among this group.

When it comes to improving their financial situation, 44% of young people plan to increase savings, 37% aim to cut unnecessary purchases, 28% will look for discounts or promotions, and 17% intend to deepen their financial knowledge, including topics like debt management.

Income growth is also a goal: 36% plan to seek additional income sources, 28% are considering changing jobs, and 19% hope to take on extra projects at work. Only 19% said they do not plan to act on improving their finances, the lowest share among all age groups.

According to Waldemar Rogowski, chief analyst at BIG InfoMonitor, young people are becoming more cautious with borrowing and are focused on managing their money responsibly. While some still hold the view that securing one’s financial future is something to worry about later in life, there is a visible shift toward proactive financial behavior.

Data also show that young Poles are working on paying off existing debts, including obligations to banks, loan companies, service providers, and even friends or family. On average, individuals in this group have PLN 7,312 in unpaid liabilities, a reduction of PLN 743 from the previous year. The share of unreliable young debtors in their age group is 4.5%, the lowest compared to older cohorts. Most unpaid debts are non-credit obligations, such as unpaid utility bills, internet or phone charges, fines, or child support.

Experts point to the role of financial education in this improvement. Rogowski notes that financial topics introduced in primary school are helping young people understand the risks of being unreliable debtors. Małgorzata Bielińska, education director at BIK Group, emphasizes the need for integrated and practical financial education across all age groups, using modern tools like games, online courses, and interactive platforms to prepare people for real-world financial decisions.

Source: BIG InfoMonitor

Fewer loans for micro-enterprises in March 2025, overdrafts show growth

In March 2025, Polish banks granted 2.9% fewer loans to micro-enterprises compared to March 2024, with the total loan value declining by 4.4%, according to data from the BIK Group. Overdraft loans were the only category showing growth, with a 4.5% increase in value compared to other loan types.

Looking at the first quarter of 2025, overdrafts again stood out as the only loan segment with positive growth, recording a 2.1% increase in value. By sector, the service and commercial industries accounted for the highest number of loans granted in March, while in terms of value, only the manufacturing sector recorded positive growth, at 6.0%.

According to Dr. Waldemar Rogowski, chief analyst at BIK Group, the overall decline in lending is part of a broader trend of deleveraging, where businesses reduce debt in favor of equity financing. High interest rates and economic uncertainty, both globally and domestically, have contributed to a significant drop in investment loans, with the number of such loans falling by 31.4% year-on-year.

Rogowski noted that Poland’s investment-to-GDP ratio has remained low for the past decade (around 17% compared to the EU average of 21%), limiting demand for long-term financing. However, potential factors such as funds from the National Recovery Plan (KPO), tax incentives, and possible interest rate cuts could improve conditions for investment loans going forward.

The rise in overdraft loans reflects micro-enterprises’ need to maintain liquidity amid growing payment delays. “Micro-companies face overdue receivables more often than medium or large companies, which may explain the increased use of overdrafts – the only loan type showing positive dynamics since the start of the year,” Rogowski added.

Source: BIK

Over 20% of employed people in EU worked on weekends in 2023

In 2023, 22.4% of employed people in the European Union reported usually working on weekends, according to Eurostat data.

Weekend work was most common among skilled agricultural, forestry, and fishery workers (49.5%), service and sales workers (48.9%), and people in elementary occupations (26.7%).

By employment type, 19.2% of employees reported regular weekend work, compared to 46.7% of self-employed persons with employees (employers) and 37.8% of self-employed individuals without employees (own-account workers).

Among EU member states, Greece recorded the highest share of employees working weekends (32.3%), followed by Italy (30.9%) and Cyprus (26.4%). The lowest shares were observed in Lithuania (3.0%), Poland (4.5%), and Hungary (6.6%).

Source: EUROSTAT

Czech employment and unemployment rates – March 2025 update

According to seasonally adjusted data from the Czech Statistical Office (CZSO), the employment rate for people aged 15–64 reached 75.9% in March 2025, up 1.3 percentage points compared to March 2024. Male employment stood at 81.2%, while female employment reached 70.5%. The gap between male and female employment rates has narrowed to below 11 percentage points, a historically low level compared to the 17-point gap seen before 2010.

The general unemployment rate, reflecting the proportion of unemployed within the labour force, was 2.7% in March, down 0.3 percentage points year-on-year. Male unemployment was recorded at 2.2%, and female unemployment at 3.2%.

The economic activity rate, measuring the share of economically active persons among those aged 15–64, was 78.0%, an increase of 1.0 percentage point from the previous year. The male activity rate was 83.0%, while the female rate was 72.8%.

These figures are based on the Labour Force Sample Survey (LFSS), which follows International Labour Organization (ILO) definitions and is internationally comparable. The data differs methodologically from the Czech Labour Office’s administrative figures, such as the registered “share of unemployed persons.” For the broader 15–74 age group used in Eurostat reporting, the Czech unemployment rate in March 2025 was 2.6%.

Source: CZSO

Kasl reconfirmed as Chairman of Czech Chamber of Architects

The General Assembly of the Czech Chamber of Architects (ČKA) has confirmed Jan Kasl as Chairman, with Markéta Žáček Zdebská as First Vice Chair and Petr Lešek as Second Vice Chair. The assembly, held on April 26, identified priorities including the protection of public interest, support for architectural competitions, and improving conditions for the architectural profession.

According to the ČKA, the chamber will focus on strengthening the quality of the built environment and landscape, engaging with public administration, and contributing to the preparation of legislation on Building Information Modeling (BIM). Additional goals include ensuring meaningful conditions for heritage care, integrating qualitative factors into subsidy policies, promoting comprehensive building renovation approaches, and developing standard contracts for public clients.

Several new members were elected to the chamber’s board, including Karolína Kripnerová, Petr Hornát, and Viktor Odstrčilík. Returning board members include Vice Chairs Žáček Zdebská and Lešek, along with Štěpánka Endrle, Pavel Martinek, David Mateásko, Ondřej Remeš, Ondřej Rys, and Stanislav Žerava. Václav Zůna joins the supervisory board, which also includes Michal Hadlač, Miroslav Holubec, Jana Janíková, Martina Kameníková, Mirko Lev, Josef Patrný, Vít Podráský, and Ondřej Tuček. The chamber’s Council of the Profession is led by Milan Kopeček.

Kasl, who has chaired the ČKA since 2019, has been active on issues such as the digitalization of building processes and collaboration between professionals and government. He has worked as an architect since 1977 and was Mayor of Prague from 1998 to 2002.

CA Immo exits Serbian market with sale of Sava Business Center

CA Immo has completed the sale of the Sava Business Center in Belgrade, marking the company’s exit from the Serbian market. The office building offers approximately 19,600 m² of gross lettable space and was 96% occupied at the end of 2024, generating annual gross rental income of around €4 million.

This transaction is part of CA Immo’s ongoing capital rotation strategy, aimed at sharpening its focus on high-quality, modern office assets in its core markets. Since 2018, the company has withdrawn from non-core markets including Romania, Slovenia, Bulgaria, Russia, and Croatia, as well as secondary cities in Hungary, Austria, and Poland.

The sales price and the identity of the buyer were not disclosed. Proceeds from the sale are expected to be reinvested into value-driven projects, including developments in Berlin and selective acquisitions aligned with the company’s long-term investment focus.

CBRE served as the real estate broker, and CMS provided legal advisory services to CA Immo during the transaction.

GARBE completes production hall for NOBO Automotive at České Budějovice

GARBE has completed and handed over a nearly 30,000 m² production hall to NOBO Automotive at GARBE Park České Budějovice. The project was delivered on schedule within ten months and will serve NOBO’s production of seat sets and components for BMW vehicles.

The facility was built to meet the technological and sustainability standards required by the automotive sector. It has been designed for BREEAM Excellent certification, meets EU Taxonomy requirements, and incorporates features such as green roofs, vegetated facades, reflective TPO roof insulation, and a rainwater system for toilet flushing. Additional amenities include a bicycle shelter linked to the local cycle network and an internal water filtration system to reduce single-use plastics.

Representatives from GARBE and project management firm Turner & Townsend highlighted the successful coordination of leasing, technical requirements, and advanced automation solutions during construction.

GARBE Park České Budějovice is located near the planned D3 motorway, offering good road connections and proximity to České Budějovice airport. The park has an additional 170,000 m² available for future development.

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