TheWrap: Power vacuums

Get them while you can! Tickets, Tables and Partnerships are on sale for ThePrime Gala, which takes place on January 28, 2026 at Obecni dum. Remember, prices will go up as of Dec. 1. (corporate tables are currently CZK 88,500 + VAT).

Czech hotels claimed 11 Michelin Keys in the inaugural global selection. Fairmont Golden Prague was the only one that secured two keys. The other ten that earned a single key were: BoHo Prague, The Julius Prague, Four Seasons, Augustine, Andaz Prague, Mosaic House, Almanac X Alcron, Villa Julius & Ema P., Chateau Mcely, and Šumperk's Hotel Perk.

The state's ninth attempt to auction off the Broadway Palace in downtown Prague came down to the wire. A single bid of CZK 878 million (the minimum allowed) came in with just 17 minutes remaining. Two parties registered in the auction for the historic building. Broadway Theatre, the current tenant, holds pre-emptive rights to the building, and now has three months to match the offer.

CPI Property Group repurchased a 49% stake in the same Warsaw office and retail properties it sold to Sona Asset Managment 15 months ago. It's financed the deal with £300 million in hybrid bonds, somewhat more than the original reported sale price of €250 million in July 2024. CPI Property Group had anticipated that rating agencies would treat Sona's investment as equity, improving the group's leverage metrics. Instead, both S&P and Moody's classified it as debt.

Next.Move fitness will occupy 1,200 sqm in ČMN's Churchill II building near Prague's main station, opening early 2026. It’s the largest facility yet for the wellness operator since opening in 2022. The facility includes fitness zones, saunas, cold pools, red light therapy and Hyrox training center. Current Churchill tenants include Deloitte, FEG and Red Bull.

Urbanity and Czech Green Building Council released a comprehensive brownfield revitalization guide for investors and municipalities—covering the full development process from initial site analysis through final approvals. The manual categorizes brownfields by economic viability, addresses specific challenges like soil contamination and complex ownership structures. It’s available for free at CZGBC's website.

Geosan Development is now offering the final units at Radimova Residence in Prague 6-Břevnov—two penthouses and one completed luxury apartment. The five-room Penthouse Elegant features three bedrooms, a study and three bathrooms. Both penthouses include climate control, underfloor heating, two parking spaces and they both target families seeking spacious units with Prague Castle views.

It’s been 10 years since Amazon opened its first Czech logistics center, a 133,000 sqm facility built by Panattoni in Dobrovíz. It was the country's largest post-1989 industrial building. The American retailer/tech company now operates three facilities, including a fully automated, multi-level distribution center in Kojetín (187,000-sqm) and a merch on demand production center in Chomutov.

CTi Cable launched its European production at P3 Prague D8, taking 1,914 sqm in Hall 5. The CZK 120 million investment creates 50 jobs manufacturing high-performance cables for AI, autonomous vehicles and aerospace sectors. It’s P3's first Taiwanese tenant in Czechia.

Czech households save 18% of disposable income versus the EU average 14.6%. But they keep 42% of their financial assets in bank deposits and cash. That’s way more than Europe's 31% average. This CZK 1.2 trillion excess in low-yield holdings constrains wealth growth, argues Investika’s chief economist Vit Hradil. Czech household consumption has fallen 1.3% since 2019, while EU consumption rose 4.5%.