This is driven primarily by two projects: Florentinum with 44,000 sqm developed by Penta; and CPI’s Quadrio, which will provide with 16,000 sqm of new space.

Currently, a total of 312,000 sqm of new office is under construction in Prague, the majority of which is going up speculatively. Just 20 percent of the space had been leased by the end of August.

Prague’s 4th district is the only part of the capital where demand is stronger than supply. “On paper there are 15 projects to choose from, but only three have been really built,” says Jaromír Smetana, Business Development Director of DTZ, adding that building on spec is the only way to remain competitive. (source: cijjournal.com)