Arcona Property Fund has completed the leasing of its office building at the Palmovka office building in Prague. The deal brings the building to full occupancy, while Arcona’s Czech portfolio is now 97.9 percent leased. The company also announced that it had exercised an option to extend a ā¬4.7m from Real Estate Central Europe for three of its supermarkets in Poland. Director Guy Barker said that strong economic growth and historically high levels of employment have been driving the Czech real estate market. With a modest development pipeline in Prague and Brno we see good potential for rental growth going forward, particularly in the office sectorā.
