The first quarter of 2015 saw 34,600 sqm of new office space added to the Prague market through the completion of two new projects. Metronom (29,900 sqm) was completed in Prague 5 and Meteor C (4,700 sqm) in Prague 8. Another 149,000 sqm is currently under construction and should come on-line in 2015, with another 44,000 sqm to follow in 2016.
Three new projects broke ground in Q1 2015: Classic 7 Phase III (6,300 sqm) in Prague 7, Park Radlice (6,400 sqm) in Prague 5 and City Deco (13,200 sqm) in Prague 4.
Gross take-up in the first quarter totaled 69,700 sqm, down 38 percent q-o-q, but up 2 percent y-o-y. Companies from the IT sector were the most active in terms of concluding leases or renegotiating them (26 percent of gross take-up) followed by manufacturing companies (17 percent) and financial companies (13 percent). The most significant transactions of the first quarter of 2015 were the pre-lease of Microsoft (11,600 sqm) at BB Centrum Delta, the renegotiation of ExxonMobil (9,200 sqm) at Luxembourg Plaza and the renegotiation of Wustenrot (6,100 sqm) at KavÄĆ Hory Office Park in Prague 4.
