Prague 4 is the Czech capital’s largest office market, but for the next two years it will be Prague 8 that’s at the center of the action in terms of the creation of new space. In time, writes JLL, it will eventually overtake even Prague 4 with the largest share of the city’s total office market. During 2018 and 2019, 27 percent of all the new office space completed in the city will be found in Prague 8, including projects such as the 25,000 sqm Palmovka Open Park. Prague 4 is the location for 22 percent of the space now under construction followed by Prague 5, where 19 percent of the new space will be completed. Prague 7’s Holešovice district is back in play following the completion of construction at the Visionary, a 20,500 sqm building by Skanska Property. Holešovice’s revival has been underway for the past couple years mainly thanks to the reconstruction of existing buildings of the former industrial district. JLL writes that Visionary is the first new office building to be completed there since 2016 when the third phase of Classic 7 opened.
