Skanska has sold Corso Court, its office project in Prague. The building has been purchased by global investment manager Invesco Real Estate on behalf of one of its German separate account mandates. This is Skanska’s second investment in the Czech capital to be acquired by Invesco Real Estate.
Global commercial real estate (CRE) investment reached US$407 billion in H1 2015, the strongest first half to a year since 2007, and up 14 per cent year-over-year, according to the latest research from global property advisor CBRE Group, Inc.
International advisory company JLL presents its preliminary summary of investment transactions concluded in Q1-Q3 period of 2015 on the commercial real estate markets across Central and Eastern Europe (CEE). The summer months have again seen a hive of activity across the CEE with a preliminary transaction volume of well over €2.8 billion recorded in the third quarter.
Corporate real estate (CRE) investment within Central and Eastern Europe (CEE) increased in Q3 by 14%, to a record €2.297 billion, with total yearly volume up 6% according to the most recent report on CEE property investment from CBRE.
CBRE announced that it has closed the acquisition of Johnson Controls, Inc.’s Global Workplace Solutions business. Global Workplace Solutions is a market-leading provider of enterprise facilities management solutions for global corporations and other large occupiers of commercial real estate. Global Workplace Solutions had revenue of more than $3.0 billion in calendar year 2014.
Europe’s prime office market vacancy rate is expected to fall back to its 2009 level by the end of 2016 and then to continue declining over the rest of the decade, according to global real estate advisor, CBRE. In Europe’s major cities, office development is not keeping pace with growing demand driven by improving employment trends and almost all key office markets are expected to show falling vacancy rates and accelerated rental growth over the next five years.
According to global property adviser Cushman & Wakefield, the outlook is generally positive in the Central European office markets of Czech Republic, Hungary, Romania, Poland and Slovakia. Three out of the five markets are anticipating rental growth over the next three years (Bratislava, Budapest and Prague).
The evolution of smart buildings has been painfully slow over the last 25 years. But we are now on the threshold of realizing a fully automatic system that could control all the building services without the intervention of humans. This we call the building internet of things (BIOT).
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