AWARD

Real Estate Karlín Group's residential project Kollárova 14, which was completed earlier this year, has won the prestigious Stavba roku (Building of the Year) award for 2006. Kollárova consists of 20 apartments and two nonresidential units on the ground floor. The architect was Šafer Hájek Architekti. Construction started in December 2004. The building, which is near Karlín Square, is now completely occupied.

REPORT

The Czech commercial property market is attracting a growing number of investors and developers, according to a report released by CB Richard Ellis. However, the country's industrial market saw a decrease in activity during the first half of 2006. The retail market continues to remain active in leasing, development and investments, but some locations around the country are becoming saturated, according to the report, and developers are being more careful where they decide to build.

RANKING

Prague remains a great place to do business, according to European Cities Monitor, an annual survey by Cushman & Wakefield (C&W) that lists Europe's best business locations. The city holds on to the No. 13 spot this year, beating out its closest competitors, Vienna, Warsaw and Budapest. "Prague is set to continue to benefit as a new EU entrant," says Andrew Thompson, head of the office agency team for C&W. The yearly ranking is based on interviews with senior managers and board directors from 507 top European companies.

FUND

Endurance Real Estate Management Company, a subsidiary of Orco Property Group, will open a second subfund this month in the Endurance umbrella fund. The subfund will focus on the acquisition, development, management and disposition of middle-class and luxury residential properties located across Central Europe, Germany, Croatia and Russia. "The fund [will] invest in positive demographic areas like Prague or Warsaw where people keep moving to take advantage of new jobs, lifestyle and infrastructure," explains Christoph Manthe, the managing director of the Endurance Real Estate Management Company.

HOTEL

MaMaison Hotels & Apartments has acquired the Parkhotel Vienna, a four-star hotel located in Poland's Bielsko-Bia∏a district. The hotel has 113 rooms with TV and Internet access. MaMaison plans to develop the property into a regional center for meetings, conferences and events. It also plans to build a wellness center at the hotel to complement the nearby skiing and golfing facilities. This is MaMaison's third hotel acquisition in Poland.

CHANGES

MaMaison Hotels & Apartments has made a few personnel changes in its Czech team. Jarmila Migelová has been promoted to PR and marketing manager. "I look forward to positively contributing to the company's future success and to playing an important role in the future growth and expansion of our very successful brand to new target groups," Migelová says. Guido Friedl will replace Migelová as the general manager of Pachtuv Palace hotel.

EXPANDING š C&W Residential has recruited Mark Batt to further develop and expand the commercial real estate firm's operations in the Czech Republic and Slovakia. Batt comes to C&W with more than 10 years of experience on the Czech housing market, having run his own agency since 1997.

PARTNERSHIP š C&W and EC Harris have formed a joint venture company called Corporate Occupier Solutions Ltd. that will partner with organizations seeking a single provider for their real estate needs. The new company will service companies throughout Europe, the Middle East and Africa. "We believe that a strong cooperation between the two firms will provide further benefits to our respective clients," says Jonathan Hallett, a partner and managing director of C&W in Prague.

OVERHAUL

Orco Property Group has closed the acquisition on a new 34,000-square-meter (366,000-square-foot) property in Prague 7. The building, located at Bubenská 1, is currently the IT headquarters of Česka spořitelna. Orco announced that it plans to start converting the building in 2008 into office and retail space.