18:06 20 February 2020
Czech real estate mogul believes Warsaw to be next hit
Largest office owner in Berlin and Prague Radovan Vitek focuses on the development of the real estate market in Warsaw, which offers one of the highest rates of return in Europe.
Vitek is the owner of CPI Property Group, the largest office developer in Prague and Berlin. SInce October he bought five buildings in the capital of Poland as well as the shares in the competitive Polish company Globalworth Real Estate Investments.
“Our ambition is to become number one in Warsaw,” he told Bloomberg.
In his native Prague, the commercial real estate market cannot develop as freely as in Warsaw. It is influenced by several factors: flat terrain in Warsaw and considerable availability of vacant plots, less stringent spatial planning regulations, as well as the height limit for new buildings issued by the Prague authorities.
(300gospodarka)
