Citigroup Property Investors (CPI) and ECM sign join venture to invest in and develop Czech real estate projects with a gross development value of 300 million.
The ECM Group concluded reconstruction of another building within the CITY project framework, the CITY Conference Centre. The building which was initially a part of CITY EMPIRIA has after the complete reconstruction become an autonomous building with the option of direct access from the road and its operation began on Wednesday, March 8th with an open house. Anybody interested had the opportunity to visit and take a good look at the new appearance of the centre with an area over 1,000 m2, whose three rooms offer spaces which can typically be used for 15 to 500 people. The CITY Conference Centre offers services for corporate activities and meetings of any format, not only for firms in the vicinity, but anywhere.
Over the past few days the developer group ECM has signed a contract for the reconstruction of the CITY TOWER building with a coalition between Metrostav and PSJ holding. The coalition becomes the general building contractor for the project.
General Manager of the ECM group Milan Janku and the CITY Project Director Tomas Lastovka, welcomed the President of the Czech Republic Vaclav Klaus and his wife to the CITY EMPIRIA building in Pankrac on Monday, 6 February 2006. The tour of the second tallest building the Czech Republic was a part of the visit to the Prague 4 area whose Councillor Bohumil Koukal, and deputies Ivana Stankova and Vaclav Soukup escorted the presidential pair.
The Ministry for Municipal Development confirmed the decision regarding legal rights of land resolution for the construction of transportation systems for the Pankrac Plain. This construction is a key requirement for the realization of new projects within the CITY framework. Overall the discussion revolves around the investment estimated to be more than 177 million CZK. The new transportation systems will be constructed gradually. The first changes will be to various intersections and will begin in the spring of 2006. The completion of the transportation systems are planned to be on the horizon of 2007.
Plzen (November 30, 2005) - In a year's time, inhabitants of and visitors to the town of Plzen will be able to use the services of a new four-star hotel belonging to the global Marriott hotel chain, a restaurant offering European top-level international cuisine, modern wellness studio, business and conference facilities as well as office space in the Diplomat Center, a new multi-functional complex. After years of dilapidation, the unfinished Diplomat Hotel is to be quickly completed by the ECM developer group with the official opening scheduled for January 2007. "We think that Plzen is lacking such facilities. We expect the Diplomat Center to be frequented by businessmen from Plzen, its surrounding area as well as from nearby Germany," said ECM spokesperson Katerina Hainzova on the launch of the project.
Prague (September 1, 2005): The representatives of the ECM Group laid the first stone of the multifunctional EUROPORT complex today at Prague's Ruzyne Airport. The complex will include the Courtyard by Marriott Hotel, a conference center, retail shops, parking stalls and a variety of other services. EUROPORT will be connected to the airport's transportation infrastructure as well as to all of the terminals. EUROPORT, in close proximity to the new international terminal, will be opened in 2007.
(Prague March 30, 2005) - Today the ECM group, the developer of the CITY project at Pankrac Plains, introduced its project for the reconstruction and construction completion of the tallest building in the Czech Republic, which was originally to be used by Czech Broadcasting. The torso of the building, whose construction has not been completed, is awaiting a dramatic transformation resulting in the creation of a modern office complex named CITY TOWER, whose design was created in the studio of the well-known architect Richard Meier from New York. Raiffeisenbank a.s. will share in the financing and provided ECM a credit of more than 65 million Euros.
Prague (March 14, 2005) - The ECM Group, developer of the multifunctional CITY project in the Pankrac Plains in Prague 4, has just signed a lease for the last remaining space in the CITY EMPIRIA building. The Group has successfully leased all 23 000 m2 of office space offered on its 27 floors. The last tenant is the pharmaceutical company Richter Gedeon, which took advantage of an option to expand on space it is currently leasing.
Prague (3 March 2005) - This week the company ECM Facility sold its 50% share of EPC Motol to its partnership company AB Facility. Both companies set up the project in 2002. The Teaching Hospital in Motol ranks among the largest hospitals in Europe, which makes the purposely established company EPC Motol one of the most significant joint projects of private and state-owned entities.