With ESG having been a buzzword in the Czech real estate market for a few years now, Clifford Chance Partner Emil Holub, Kocian Solc Balastik Partner Jiri Hornik, VIDD Partner Ondrej Hampl, Taylor Wessing Counsel Radka Nenickova, and Act Legal Czech Republic Partner Tomas Slaby look at how ESG principles are being applied in practice and in what areas there is still room for improvement.

The Ministry of Economic Development and Tourism adopted the Draft Law on Real Estate Brokerage. The adoption of this law is motivated primarily by the need to suppress the grey economy that is flourishing in the field of real estate brokerage. The second, equally important motive is the protection of participants and the prevention of abuses and fraud in real estate sales.

B2RLaw has advised White Star Real Estate on its sale of a group of companies from the short-term lease market sector to Renters.pl. DLA Piper reportedly advised Renters on the deal.

Clifford Chance has advised Hillwood on over EUR 89 million in financing from Bank Pekao for the construction of three warehouse parks in Poland. Reportedly, CMS advised Bank Pekao.

Havel & Partners has advised Investown Technologies shareholder Ceska Sporitelna Seed Starter on the sale of a stake in the company to Finbus.

Ellex has advised on Orkla’s opening of a new EUR 100 million biscuit and wafer production plant in Adazi, Latvia.