Investments in Czech commercial property may top EUR 2.1bn in 2011.

By bne IntelliNews June 30, 2011
Investments in Czech commercial property may exceed EUR 2.1bn in 2011, almost tripling last years value of less than EUR 700mn, Hospodarske Noviny reported citing data from real estate consultancy Cushman & Wakefield. The number of transaction will be lower next year but it will be the value of deals that will help the market reach a record growth. So far in 2011 several major deals have been completed, including the sale of VGP's industrial parks to EPISO for EUR 300mn. VGP plans also another EUR 140mn worth of deals. Multi Development is planning to sell three shopping malls in Liberec, Ostrava and Usti Nad Labem. Czech property market experienced strong recovery in the first half of 2011, with investments reaching EUR 744mn from EUR 295mn a year ago.

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