On Thursday 14 June 2007 HOCHTIEF Development celebrated 10 years of success in the Czech Republic at Letňany Airport. Company representatives Peter Noack and Petr Beneš summarised the company’s activities to date and outlined the direction it plans to take over the coming years.

"HOCHTIEF Development Czech Republic has implemented a number of successful projects here in Prague over the past ten years and as such has contributed to the creation of timeless value. I am certain that our Prague team will carry on with our current success over the next ten years,“ announced Dr. Joachim Wieland, legal executive of Germany-based HOCHTIEF Projektentwicklung GmbH, during his speech.

There was a diverse programme in store for participants at this informal social event – sightseeing flights and hot air balloon launches above Prague, a performance by popular group MIG 21, a barman show, tightrope walker performances, and other attractions. Ondřej Hejma presented the event, lacing parts of the programme with witticisms.

Having focused primarily on office projects to date (Hadovka Office Park, Technopark, Trianon and Kavčí Hory Office Park), the developer is now starting to expand to other sectors of the real estate market, specifically logistics and residential projects.

With completion scheduled for June 2008, the project was sold before the construction commenced.

HOCHTIEF Development Czech Republic s.r.o., a subsidiary of HOCHTIEF Projektentwicklung GmbH, Essen, lays foundation stone for the Kavčí Hory Office Park, Prague 4, on 10 October 2006. Managing Director Peter Noack, HOCHTIEF Development Czech Republic s.r.o., underlined the importance of the future office complex, saying: “Prague 4 is an attractive location, which has been already chosen by numerous companies as their headquarters. We are sure that with the sophisticated architecture and park vegetation, the Kavčí Hory Office Park will add to the architectural charm of this growing area of the city. Thanks to its extremely easy traffic access, Kavčí Hory ranks among the best office locations that can be currently found in Prague”.

It is envisaged that the Kavčí Hory Office Park will be developed on an ap-proximately 20,000-sqm site in the vicinity of the junction of Pujmanové and Na Hřebenech II streets. Designed by Michal Gabriel, Master of Engineering and Academic Architect, the office complex will cover a gross floor area of 43,000 sq m.  With a comb-shaped pattern, the building has a connecting wing perpendicular to four wings with six or eleven storeys. In addition, about 700 parking places will be available on the underground levels of the development. The construction work will be supervised by HOCHTIEF VSB a.s.

The projects as a whole was sold to Europolis CE Holding GmbH before the construction commenced, with completion scheduled for June 2008.

HOCHTIEF Development Czech Republic (formerly known as HTP ČR), a subsidiary of HOCHTIEF Projek-tentwicklung GmbH, Essen, has been operating in the Czech Republic since 1997. In the second year of their existence, the company commenced construction of the first office scheme in Prague, Hadovka Office Park. What followed in 2000 was construction of further office space in the Technopark office scheme, Pekařská St, Prague 5. Both the projects were purchased by Europolis Real Estate Management s.r.o. HOCHTIEF Develop-ment Czech Republic is currently developing another two projects at an investment level of approximately €124 million. One of them, the Trianon building, Budějovické Square, has been already sold. The investor in the mentioned project is Deutsche Immobilien Fonds AG (DIFA).

HOCHTIEF Projektentwicklung has been developing, conducting and selling real estate projects on both domestic and international markets since 1991. Focusing on offices, hotels and special properties in city centres and adjacent areas, the company is a leader among German developers operating in these seg-ments and concentrating on city centres. The company’s new products are retail and logistic properties. The aim is to sell projects to a final investor as soon as possible. HOCHTIEF Projektentwicklung does not build their own real estate portfolio.