"According to the Savills report, Prague can boast the largest increase in the return of employees to offices among European capitals over the last six months. However, even with this increase, physical office occupancy in Prague remains at 57%, placing it fourth in Europe, behind cities such as Madrid (68%), London's West End (61%) and the Central Business District (CBD) in Paris (59%). Yet, it still hasn't reached pre-pandemic levels, when physical office occupancy was around 70%."

"According to Savills research, Q1 2024 real estate investment volumes in the Czech Republic are forecast to reach approximately €350 million and European real estate investment volumes approx. €34 billion. Savills forecasts that year end investment volumes for the Czech Republic will exceed €1.5 billion and for Europe €177-182 billion. This would mark a considerable rebound in investment volumes, up by 19% and 22% respectively on the €1.25 billion recorded in Czechia for 2023 and €149 billion for Europe."

"Savills, in cooperation with MFS, prepared studies for CA IMMO for the Nile House and Danube House buildings, which included various solutions for solving the heat gains and losses of the office space adjacent to the atrium facades. Consequently, a reconstruction of the internal facade was carried out on the top two floors of Nile House and throughout the entire extent of Danube House. After the renovation, the insulation properties of the internal atrium facades have improved significantly by almost 45%. CA IMMO's goal to significantly reduce heat loss and lower the energy consumption of the offices has therefore been achieved. Savills provided project management, technical supervision on behalf of the builder and coordinated the HSE (Health, Safety & Environment) measures."

"Resilient performance in challenging markets driven by the Group’s less transactional service lines"

"Savills has noted a significant expansion of luxury brands in holiday destinations. Some brands have gone as far as creating limited exclusive collections. Armani Neve is available in ski resorts such as Courchevel, St. Moritz, Crans Montana and Megève, "LV By the Pool" has two pop-up boutiques, exclusively located on the  island of Zuma Mykonos. Prada has introduced the ASPENX collection inspired by Aspen in Colorado. In addition to the establishment of new stores by major brands such as Moët Hennessy Louis Vuitton (LVMH), Richmont, and Armani, designer labels like Alexander McQueen, Balenciaga, Burberry, Bvlgari, and Zimmerman have also joined the trend."

"Savills is monitoring shifts in the Prague office space market, noting key trends such as renegotiations, subleases, serviced offices, and a renewed interest in refurbished buildings. At the same time, second-hand spaces are being searched for by companies, which want to take over a ready-to-move-in and often attractive office space, realized by another company. These changes stem from the limited construction of new office spaces in Prague, which is at its lowest level over the past decade. However, even such transactions can have a positive impact within the ESG strategy of companies - some existing buildings after renovation can meet today's demanding efficiency requirements. In fact, green leases will become a normal part of lease agreements by 2026, according to Savills research."

"Savills successfully negotiated three new lease agreements for tenants in the LIFE_Building C, located in Brumlovka, which is currently nearing 90% occupancy. The new occupants include the technology startup NFCtron Pay a.s., fitness club Form Factory s.r.o., and refreshment operator 23 group, s.r.o. Owned by VIG FUND, a.s., the LIFE building underwent a comprehensive reconstruction in 2020."

"Savills plc, the global real estate advisor, publishes the following trading statement in respect of the year ended 31 December 2023."

"Savills strengthens its Investment team with a promotion and a new appointment. Fraser Watson has been promoted to the role of Head of Investment for the Czech Republic & Slovakia. Fraser has been with Savills since 2018. He is an experienced property professional with over 20 years' experience and a diverse background providing a wide range of advice within all property sectors. He overtakes the department from Stuart Jordan, who was appointed a CEO of Savills Central and Eastern Europe in August. Hugo Fischer joins the Investment team as an Associate, bringing with him a varied background in real estate investment, asset management and development."

"Savills recorded 40 transactions closed in 2023 in the commercial real estate sector with a total investment volume EUR 1.2 billion. Investment volume in 2023 was down 32% in comparison to 2022. The retail sector was the driver of real estate investment in 2023, accounting for 43% of the total investment volume. Domestic investors undoubtedly dominate the Czech investment market. They are not only the most active, having closed 29 transactions, but also accounting for the largest (80%) proportion of investment volume this year. 31% of investment transactions in 2023 were closed in Prague."