There are only 63 buildings on the Wenceslas Square in Prague and Českomoravská Nemovitostní (ČMN) has acquired one of them. ČMN’s portfolio has been extended by an office building in the upper part of the Wenceslas Square, with a view on the St. Wenceslas’ statue and the National Museum. ČMN holding’s portfolio is worth CZK 1.5 billion, as of the end of 2018.
“Wenceslas Square is considered one of the most prestigious Czech Republic’s addresses and we are excited to have a building right there,” said Radek Stacha, Vice-Chairmen of the Board, ČMN, adding: “The total value of our real estates of over CZK 1.5 billion is a great result of our and our partners’ efforts. In less than three years, we’ve managed to become a major player on the Czech real estate market, and we are not going to slow down our growth.”
And ČMN’s acquisition appetite is growing. In 2019 alone, ČMN is going to at least triple the value of its portfolio. “It still applies that we focus on office buildings, particularly in Prague. We also would like to reinforce our position in Brno, where our company is based,” Jan Fiala, Chairman of the Board, commented on the company’s plans.
ČMN is a real estate holding focusing on purchasing and holding commercial real estates in the Czech Republic. In this segment, it focuses particularly on office buildings, which are regarded as predictable and consistent in terms of generating rental income.