ThePrime Gala - A Night of Giving & Awards

The fourth edition of ThePrime Gala brought together over 440 guests at Prague's Smetana Hall in Obecní dům on January 28th — and what a night it was. It was the first time we held the Gala in this spectacular Art Nouveau architectural icon, and I have to say: the venue did not disappoint.

Nine awards celebrated excellence across the Czech real estate sector:

I, of course, congratulate all the winners, but I’d also like to thank all the nominees who took the time to take part. The discussions with jury members back in mid-January were lengthy, and the field was incredibly competitive; there genuinely were very few easy answers.

A Remarkable Night for Charity

If I’m honest, the biggest thrill is announcing that this year's Gala raised CZK 2,439,093 for ThePrime Foster Fund.

The remarkable painting by Laura Limbourg entitled “Blue Tiger” raised CZK 1.1 million in the live auction, sold when CTP’s Czech managing director, Jakub Kodr, raised his hand for the final bid.

The silent art auction also exceeded expectations. Works by Patrik Kriššák, Martin Salajka, Julius Reichel, and Pavlína Kvita all found new homes. Panattoni’s Czech and Slovak MD, Pavel Sovička, outbid everyone else, paying CZK 1 million in total for the four works.

I’m deeply moved by the generosity of both the artists and the buyers. Since the artists donated these works to our Fund, we are able to deploy 100% of the money raised to projects my wife Eva and I really believe in. The Czech real estate community truly came through—we raised CZK 339,000 through the charity raffle alone!

Last year, we distributed the funds to Rozum a Cit, Charita Hvězda, and Život v kufříku. I’m willing to talk to anyone at any time about the good work the fine people at these organizations do, and I vouch for the sincerity and meaningfulness of their mission.

Let me also say that a few of you kindly reached out in the run-up to the Gala to inquire about making special donations. I’ll be getting back to you soon, but am currently recovering with a bit of skiing with friends!

Thank You to Our Partners

Thank you to our raffle sponsors for their generous prizes: Artemis Boat, Comix Kitchen & Bar, Football Golf Radonice, Glampino, John Reed Fitness, Mash Hana, The Julius Prague, Údolí Svratky, and Zenwork.

None of this would be possible without the support of our 13 Event Partners: 108 Real Estate, ASB, Capexus, CBRE, Corwin, CTP, Cushman & Wakefield, Dual Asset, iO Partners, Julius Meinl Living, Panattoni, Sentient, and VŠE/ISTI.

Your commitment to this event — and to the industry it celebrates — means everything.

See you next year.

Českomoravská Nemovitostní (ČMN) has obtained BREEAM In-Use certification for three office buildings in its managed portfolio: Anděl 17 achieved Excellent; Victoria Vyšehrad and Panorama Business Center both rated Very Good. Savills handled the certification process. The properties were added to ČMN's management in 2024.

Nearly half (49%) of retail chains surveyed by CBRE plan to expand their physical store networks in CEE, with the focus on deepening presence in existing markets rather than entering new countries. Retail parks dominate expansion preferences; shopping centres and high streets are in play, but only in established key locations. Transit hubs and outlets rank lower. The supply pipeline backs the strategy. Around 800,000 sqm of retail park space completed across CEE in 2025, with Czechia delivering 140,000 sqm — second only to Poland. Another 1.1 million sqm is under construction regionally; 85,000 sqm of that sits in Czechia.

German manufacturing posted 4.5% quarterly growth — a pace the country hasn't seen outside the post-COVID bounce-back since 2010. Obviously, you worry if this isn’t just another flash in the plan. But the recovery is broad-based, encompassing machinery, electrical and optical equipment, even automobiles. Capacity utilization climbed to 78% in Q4 2025. Sure, that’s barely off the bottom, which was a dismal 76.6% in Q1 2024. And it’s still well below the 85% historical average. But the trajectory has turned. Take truck mileage on German toll roads — an early signal of industrial activity. That its highest level since November 2022. Manufacturing orders jumped 10.5% YoY, with domestic orders at their strongest since 2022. The driver? Defence. Fabricated metal products surged 25%, other transport equipment (aircraft, ships, military vehicles) rose 12%. Germany's 50% YoY increase in military procurement spending between 2024 and 2025 appears to be flowing through the order books. Another 80% jump planned for 2026.

Róbert Cesnek has been appointed Head of Capital Markets at iO Partners Slovakia, effective 1 January 2026. Cesnek joined the firm eight years ago and has led a string of notable transactions. These include the €65m sale of the DSV logistics facility — a 69,600 sqm sale-and-leaseback that marked Slovakia's largest since 2018. Other recent mandates include a logistics park disposal in Nové Mesto nad Váhom and the sale of Štúrova 5 Palace in Bratislava.

Penta Real Estate has topped out Chalupkova Offices, the first phase of its Chalupkova district development on a former industrial brownfield near Bratislava's historic centre. The building provides roughly 33,000 sqm of office space plus 2,000 sqm of retail and was designed by Jakub Cigler Architekti. Its sustainability spec is ambitious: LEED Platinum and LEED Zero Carbon certification are targeted. Penta claims 40%+ lower electricity consumption compared to standard LEED Gold buildings. The kit includes heat pumps, PV panels, enhanced air filtration and smart energy management.

Prague office vacancy fell to 5.9% at year-end 2025 — the lowest since early 2020 — down 134 bps YoY. The driver isn't surging demand; it's collapsing supply. Just 26,600 sqm completed in 2025, the lowest annual delivery in the market's modern history. Only 36,700 sqm is scheduled for 2026. The pipeline is finally refilling: 263,300 sqm is now under construction, the highest since 2019. The thing to remember is thatmore than 60% is already pre-leased or owner-occupied. Deliveries are back-loaded to late 2027 and H1 2028. Passerinvest broke ground on Orion (19,300 sqm) in Prague 4; Mount Capital started E Factory phase two (5,200 sqm) in Prague 9. Gross take-up reached 573,200 sqm for 2025 — down 10% from record-breaking 2024 but still 8% above the five-year average. Net take-up declined 3% YoY to 307,100 sqm with prime rents flat at €29-30/sqm/month.

The Czech National Bank has approved a CZK 2bn bond prospectus for Progresus, the investment group owned by Lukáš Zrůst and Lukáš Foral. The first tranche offers 8.2% with a CZK 25m cap per investor. It's the group's largest issuance to date. Progresus reported CZK 850m profit in 2024, swinging from prior losses. But the number hinges on a CZK 1.3bn revaluation of its key development asset, Nový Zeleneč — a planned 1.2 million sqm residential district east of Prague for 3,500 residents. Savills valued the project at CZK 1.6–2.2bn.

PSN has secured occupancy approval for Rezidence Slunečný svah in Bedřichov, Špindlerův Mlýn — a compact second-home scheme with eleven units (nine apartments, two flats) in layouts from 1+kk to 4+kk. Each unit comes with dedicated parking; the building includes ski and bike storage. The project lands as Špindlerův Mlýn gears up for serious infrastructure investments. Building permits have been issued for two new cable cars intended to link the Svatý Petr and Medvědín ski areas — part of a broader push to improve connectivity and compete more credibly with Alpine resorts.

Cresco Real Estate and co-investor WOOD & Company are moving forward on Yards Žižkov—1,100+ apartments across two phases on the Nákladové nádraží Žižkov brownfield. Phase one (520 units) breaks ground Q1 2026, with first move-ins in 2028. The JV inherited the project and its obligations: CZK 167 million in contribution agreements with Prague 3 covering a kindergarten, and elementary school expansion, a bus stop, and connecting roads. Terms of the deal in which Finep offloaded the scheme weren’t disclosed. QARTA Architektura is handling design, building on the inherited concept.

-User-First Development: Demaco’s DMC Paskov and the Power of Long-Term Industrial Vision
-Spire Capital Partners agrees strategic capital for BONARD
-Manova sells Amazon Returns Center in Sereď
-Prague Matches London for Retail Openings; US Brands Surge
-Dr. Max extends lease at Prologis Park Prague-Rudná
-Butovice Offices bought by Investika
-Generali buys GARBE Progresus Park Klášterec I
-SPM Invest acquires Campus Science Park in Brno
-UBM Warns Labor Shortage Reshaping Prague Development
-CTP begins construction on ABB’s newest facility
-David Mazáček (Upvest): We’re not trying to replace banks
-GARTAL ramps up output, beginning with City Lofts
-Signal Space raises the entertainment bar in central Prague
-Marketa Vrbasová (Knight Frank): Auto Suppliers Face Indirect Hit from Trade Wars
-Pavel Sovička (Panattoni): Productivity is the problem. Not developers
-David Sajner joins Savills
-Energy efficiency still low in Prague office sector
-Crestyl achieves planning breakthrough on Savarin
-Michal Sotak (Cushman & Wakefield): Emotions drive investment
-Michal Bilý (108 Real Estate): Q2 new industrial leases strengthen
-Robert Ides (ARETE): We’ll recycle our equity abroad