9/29/2008

Prosek Point Ready to Welcome First Tenants in October

(Praha, 29. 9. 2008) The final building inspection was successfully completed for the first phase of construction of the new Prosek Point Administrative Centre. 80% of the office space in the just-finished building has already been rented.

The three towers of this modern administrative complex will offer a total of 23,000 square metres of highest standard Prime-A office space. Ultimately, the complex will include shops, services and restaurants. The construction is divided into three phases. The second phase will be completed this year, with the third scheduled for completion in mid-2009.

“One of the largest tenants is Covidien Healthcare. Others include Česká Spořitelna and IKB Leasing. At least one bank will open a branch at street level,” stated Martin Kodeš, Sales Director for J&T REAL ESTATE. “The contracts that have already been concluded for leasing space in Tower B as well as the negotiations that are currently underway confirm our belief that Prosek is becoming a fully-fledged alternative to already well-established business addresses, such as Pankrác and Chodov,” Kodeš added.

The entire Prosek area is undergoing unprecedented development at this time, primarily in relation to the extension of Prague Metro Line C. The J&T REAL ESTATE development company will tie on to the successful Prosek Point project with a neighbouring multifunctional complex – Prosek Court.

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Prosek Point is a modern and interesting complex of three administrative buildings with its own park, piazzetas between the buildings, shops and cafés. Accessibility is one of the main advantages of this new zone. It is located right next a Metro C station - Prosek and bus stops. The location also allows excellent connection with the city ring and Motorway D8.

J&T REAL ESTATE
Activities pursued in the field of office space, residential and hotel projects make J&T a leading real estate developer and investor in Central Europe, especially in the Slovak and Czech Republics. J&T also focuses on the logistic parks and on tourist development, including the development of ski resorts, especially in the High and Low Tatras. The expected volume of investment in projects prepared for the next five years will exceed EUR 3.75 billion. J&T is also preparing expansion into other Eastern European real estate markets, which is an ambitious but realistic objective.

author: Mgr. Jiří Ochec - Marketing Director at J&T REAL ESTATE CZ, a.s.