Oracle and SAP relocating in Prague

Two lease transactions are expected to close on a pair of competing projects in Prague 5 -- Metronom completed by HB Reavis in Nové Butovice and Aviatica built by Penta Investment Group in Jinonice. Both projects have been built speculatively. Penta closed the first large lease deal for the 27,000 sqm Aviatica with software company Oracle, which is taking 10,000 sqm in the first office building to be completed in the CZK 5bn Waltrovka project in Prague Jinonice. SAP is reportedly considering moving to Metronom. It would be the first tenant for the 30,000 sqm complex HB Reavis completed right above the Nové Butovice metro station. While SAP would re-locate from another office complex in Nové Butovice, Avenir, Oracle will leave its space in The Park in Prague 4 Chodov, owned by Starwood Capital.