An office center has been created at Pankrác for two billion

Prague - The second half of the Gemini office center has been completed today on the site of the former bus station in Pankrác, Prague. The total area of both buildings is 38,500 square meters. The investor companies Sparkassen Immobilien and Immorent ČR announced this today in a press release. Immorent previously stated that the construction of both buildings cost over two billion crowns.
    The first building was completed a year ago and according to Immorent's managing director Tomáš Velemínský, it is already almost fully leased. Companies such as Unipetrol, Benzina, ProLogis, Aral, Barclays, or Česká spořitelna are located there. The recently completed second building is home to Volksbank and Hill’s Pet Nutrition, for example.
    The owner of the Gemini Centre office complex is the Austrian company Sparkassen Immobilien. It has been operating in the Czech Republic since 1999 and mainly invests in hotels and office properties in Prague. Immorent ČR and Sparkassen Immobilien are part of the Erste Group, which also includes Česká spořitelna.
    Other office projects completed in the capital from January to March include the Amazon Court complex in Karlín with 19,561 square meters or Trianon in Kavčí hory, which has 18,500 square meters. The new offices in Pankrác also have competition from immediate surroundings, as there are high-rise office buildings belonging to ECM and the Arkády shopping center just across the street from them.
    By the end of the first quarter, there were 2.58 million square meters of offices in the capital, according to the Prague Research Forum association of consulting firms. More than 70 percent of these areas are in new buildings. The vacancy rate of Prague's offices exceeded ten percent by the end of March.