Over the last two years, CPI Group, the Czech real estate investor and developer, has become the fourth largest owner of retail floorspace in the Czech Republic as a result of its aggressive acquisition strategy. At the end of 2010, CPI Group ranked ninth but has since more than doubled the floorspace it controls on the regional market.
“CPI Group is becoming a key player on the Czech retail market, especially in regional shopping centers. The local real estate market, dominated by international groups, is now seeing growth of local capital and this trend will continue in the future,” said Jonathan Hallett, managing partner at Cushman & Wakefield in the Czech Republic and Slovakia.
The largest owner of retail stock on the Czech market, including shopping centers and retail parks, is currently Tesco, whose position hasn’t changed since the end of 2010. Tesco is followed by Ikea Group and then Intercora, the Czech retail park developer.
