Rising energy prices are beginning to be liquidating for selected industries, so developers of industrial real estate, including their tenants, are looking for ways to energy self-sufficiency. What are the most common ways to protect against rising prices? In the current situation, logistics operations are more likely to be able to reduce costs to a minimum. Production will not just break free from dependence on gas, and a very difficult period awaits them.
Currently, most markets are in the "price search" phase. Since summer, a situation similar to a dance floor has persisted on the Czech market, where buyers sit on one side and sellers on the other, waiting to see who will enter the dance floor first. According to CNB predictions, the consumer price index would reach 15.8% this year, and inflation should remain in double digits at least in the first half of 2023.
Through a forward financing structure, Logport Development and Invesco Real Estate have committed to build the Logport Prague West logistics complex with an area of 37,900 square meters, which will be built in a strategic location close to the Prague Ring Road. The transaction was brokered by Cushman & Wakefield. Logport Prague West, whose construction started in September 2022, has already attracted the first tenants who will move in in the summer of 2023. Completion of the entire commercial zone is scheduled for the first quarter of 2024.
During this year, when it celebrated 15 years on the Czech market, the development company Panattoni managed to complete six industrial buildings with a total area of over 243,000 square meters, in which more than 2,400 new jobs were created. The company signed 18 contracts with new clients, which will bring at least 3,500 additional jobs. At the same time, it currently has 11 new halls under construction, occupying 545,000 square meters. Panattoni's largest completed building is Amazon's distribution center in Kojetín, which stands out for its advanced technologies and environmental friendliness.
The CTP company has made significant progress in building the sustainable CTPark Hradec Králové industrial complex. High-quality background for business will help with the development of the entire location and will bring many new opportunities for enriching not only the business environment in the Hradec Králové region.
Pilsen and Ústí nad Labem are due to the proximity of the German border and that they intersect them important highway moves, logistically attractive regions. The P3 industrial developer currently offers almost 40,000 m2 immediately for rent. Another 64,000 m2 can be built to measure.
In the third quarter of 2022, the Czech industrial real estate market grew at the fastest rate in history and increased by a total of 511,100 m2. In the first half of this year, the total supply exceeded 10 million m2 and currently stands at 10.65 million m2. The vacancy rate fell to 0.99%, the lowest number on record during the market's monitoring period.
