Home to innovative start-ups and tech giants

Prague

Prague is not only one of the most beautiful cities in Europe, it’s also an attractive option for businesses wanting to expand their European operation.

Prague has an abundance of breath-taking architecture, including Charles Bridge, Prague Castle, Gothic cathedrals and medieval squares. The capital city of the Czech Republic is a popular place for businesses in Central and Southeast Europe due to its low corporation tax, reduced living and labour costs, its highly skilled workforce and its proximity to other European cities.

Known for its business-friendly environment and digital infrastructure, Prague has one of the biggest startup ecosystems in Central and Eastern Europe (CEE), which includes innovative startups, tech giants, including Microsoft, ebay and Skype, and many investors. The most popular industries for startups in Prague are games, entertainment, travel and web services.

Studio Alliance members have undertaken projects in Prague for:

Prague Fast Facts

Average City Centre Letting

€264

Annual headline rent

Total lettings in 2019

206,000

Square metres

Vacancy Rates

5.5%

With ambitions to make the city a better place to live and work, in 2017 Prague City Hall approved the Smart Prague 2030 project. Based on the globally renowned Smart Cities concept, Smart Prague 2030 will integrate the region’s services and infrastructure with new innovative technology. The project focusses on six key areas: mobility of the future, smart buildings and energies, waste-free city, attractive tourism, people and the city environment, and data.

Despite the uncertain climate, over 369,000 square metres of office space is under construction and planned for delivery in 2020 and in 2021, with more than half of the projects being pre-leased. Developments either in the pipeline or under construction include Rohan City, a new area of Prague to be composed of offices, apartments and commercial spaces; Smichov City, another mixed-used development; and Pireh II, a new district of the city composed of offices and logistics units.

Significant Lettings

Clearstream

17,100 sq m

Futurama Business Park, Prague 8

Significant Investment

GLL, (Hanwhat Investment & Securities

€253m

Waltrovka, Prague 5