Hochtief Development will open new offices in Prague today

Prague - Today, the development company Hochtief Development will open the Trianon office and retail center at the corner of Budějovická and Vyskočilova streets in Prague 4. The company invested approximately one billion crowns in its construction, said Jana Bakešová, the media representative of the company, to ČTK today.
The new complex features 18,500 square meters of office space. Almost all of this area is already leased. Two-thirds have been taken by Česká spořitelna, with other tenants including companies such as VIG, TNS Aisa, and Alwil Software.
There are also other office buildings nearing completion in the capital city, such as the Vysočanská Gate by Orco, Prosek Point C by J&T Real Estate, or the first phase of the Futurama Business Park project by Immorent.
According to analyst Ondřej Novotný from the international consulting company King Sturge, projects launched during the construction boom from 2006 to 2008 are primarily being completed in the metropolis. Speculative construction, which is construction without pre-secured tenants, has almost come to a halt due to the crisis. This year, according to the expert, not a single office building has yet begun construction in Prague. Only the City Deco project by the development company ECM at Pankrác is on the verge of starting.
The latest data from the Prague Research Forum, an association of real estate consulting firms, indicates that at the end of the first quarter of this year, there was 2.58 million square meters of office space in the metropolis. However, approximately one-tenth of it was vacant.