Currently, the Prague office market is experiencing the beginning of a recovery which has already been seen in the industrial and retail sectors. After several years of low demand for new office space, we see a change in the market. We see successful companies growing and expanding into larger offices. In 2016, a very limited new supply of 26,000 sq. m is planned to be delivered to the market. And, as a result, overall vacancy rate should decrease slowly. We expect high demand for space in new projects and therefore we believe vacancy rate in these properties will go down rapidly in the coming quarters. The Prague office market recovery will undoubtedly be followed by rental growth.
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