CPI Property Group, the biggest shopping centre owner by area in the Czech Republic, is gearing up for a major move that will underpin its position as a real estate leader in Central and Eastern Europe. From 2020, the Group will take over the management of its shopping centres in the Czech Republic, currently managed by third parties.
The shopping centres owned by CPI Property Group (CPIPG) have to date been managed by Cushman & Wakefield, CBRE and Reflecta. “We greatly appreciate the work put in over the years by our third-party managers. They’ve contributed significantly to the development of our shopping centres,” said Petr Brabec, Head of Asset Management, Shopping Centres, at CPI Property Group. “The planned change is fully in line with the Group’s long-term strategy and it is not a result of any dissatisfaction with the existing arrangement,” added Brabec.
This key property management decision taken by CPIPG reflects long-term plans.“It is the next logical step to take. Our continued growth brings along new demands and new skills. We are confident that taking over the management of our shopping centres will enable us to expand our property management know-how,” said Jakub Korf, Director of Property and Facility Management at CPIPG.
The process of taking over the management of the Group’s 15 shopping centres, located in the Czech Republic, is expected to take around two years. The process will start in January 2020 and it is expected that it will be completed during 2021. “We face an enormous challenge. What motivates us is that this step will enable us to provide a comprehensive set of services across all segments represented in our portfolio,” explained Jakub Korf.
Shopping centres in Czech Republic owned by CPI Property Group:
- Quadrio Prague
- Zlatý Anděl Prague
- Spektrum Čestlice
- Fénix Prague
- City Park Jihlava
- IGY České Budějovice
- Géčko České Budějovice
- Futurum Hradec Králové
- Futurum Kolín
- Královo pole Brno
- Olympia Plzeň
- Olympia Teplice
- Olympia Mladá Boleslav
- Bondy Mladá Boleslav
- Nisa Liberec
