Insurance companies are increasingly investing on the Czech real estate market. Česká pojišťovna purchased Hotel Prague Inn at Můstek in Prague 1 through its fund, bringing the total value of its property portfolio to CZK 8bn. VIG added Kotva palace next to the Kotva department store at the corner of nám. Republiky in Prague 1 to its Burzovní palác purchase, and Allianz Real Estate is among the potential buyers of the Florentinum office complex on Na Florenci street, also in Prague 1, according to the server e15. Earlier this year Allianz created a JV with the warehouse developer VGP in a transaction worth €500m.
