TheWrap: Be like Elon

Starbucks opened its first drive-thru in Slovakia or Czechia — a 209 sqm unit at Zilina's Klokan retail park, delivered by HSF System's PURPOSIA Group subsidiary. Investor on the build: KLM real estate's MC Stadion. HSF System is now replicating its CZ/SK playbook into an Austrian sister company.

Jungle will open its largest Czech climbing and parkour centre at P3 Ostrava Central, taking 4,411 sqm of a 12-meter-tall hall in the former Vitkovice brownfield. The facility includes climbing walls, bouldering, a parkour and gymnastics zone, a kids' climbing section, physiotherapy, and a bistro. It is the first leisure tenant in the 160,000 sqm complex, which already has eight firms on site from Korean manufacturer SFI Europe to health supplements retailer BrainMarket. The full 13-building park, certified BREEAM Excellent, targets completion in 2027. Jungle opens in stages from autumn 2026.

Passerinvest topped out the 55-meter Hila tower at Brumlovka — 71 rental apartments above 20,200 sqm of offices and 2,300 sqm of retail, the district's first building to blend all three under one roof. Office rents target €24.50–27.50/sqm/month. The building includes 2,000 sqm of rooftop terraces. LEED Gold; facade and interiors next.

CPI Property Group secured €86 million from Emirates NBD against 19 ultra-luxury Dubai residences, including units at Bvlgari The Lighthouse and Casa Canal still under construction. The facility covers deferred payments through 2027. CPI plans to sell off the properties once they're completed, leveraging what it calls a popular destination "that continues to attract buyers from Europe, Asia and the wider Middle East." If we're honest, that's a view currently undergoing a pretty serious stress test.

UDI Group has received approvals to build SIDE Smichov Living, a 58,000 sqm residential-led scheme between Strakonicka and Nadrazni streets in Prague 5. Designed by CMC Architects, the brownfield project delivers around 1,200 small and mid-size apartments alongside retail and services. The permitting process took 11 years.

Hours of rain fell over the weekend, providing a bit of relief to the drought in Czechia. Which is a bit like the news that three new office projects launched in Prague during the first quarter of 2026. Two of them, according to Colliers, were on spec. That pushes the volume of office construction underway by 81% to 313,000 sqm. Like the recent rain, these projects won't solve an increasingly serious supply issue, as prime vacancy has fallen to 2.3%. Space is so tight that the best new space is being marketed at more than €35. Gross demand jumped 19% to 105,400 sqm, while pre-leases --recently an endangered species -- clawed back to 15% of activity. The catch: Stodulky and Nove Butovice still sit above 10-17% vacancy — Prague doesn't have one office market anymore, it has two, and the gap is widening.

Penta Real Estate launched a cooperative housing product at its Bory quarter in Bratislava — buyers put 20% down and pay €907/month over 40 years, undercutting a conventional 30-year mortgage by €38/month for the same two-bed unit. It's a new financing model in Slovakia that allows the cooperative to own the building while members gradually buy their way to personal title. It's an adaptation to a market where standard mortgage eligibility still locks out a meaningful slice of demand.

Construction kicked off at Yards Žižkov on Prague's Nakladove nadrazi brownfield. Cresco Real Estate and WOOD & Company are delivering 1,100 apartments across two phases, the first alone worth CZK 5 billion. Sales open end of Q2. A studio will sell for CZK 4.5 million, while you'll have to hand over CZK 13.5 million for a 3+kk.

Skanska launched sales on 116 apartments at the second phase of its project Habitat Malešice - Prague 10. Prices on the 188-unit phase start at CZK 139,000/sqm. Skanska is targeting an H1 2029 completion. The green project includes grey water reuse, rooftop solar, and a Sponge City rainwater strategy.

Warsaw's office split widened in Q1 as central vacancy dropped to 6.5% while non-central zones ballooned to 12.2%, with Sluzewiec topping 18.7%. The construction pipeline tells the same story more bluntly: of 120,000 sqm under development (-46% YoY), barely 4,000 sqm sits outside the center. Developers have simply stopped building in the suburbs — all fresh capital flows to projects like AFI Tower (50,000 sqm, Wola, 2028) and Skyliner II near Rondo Daszynskiego.