Real Estate

We provide our clients with a wide range of real estate services. Across PwC’s various departments, you can get all your advice in a one-stop shop without having to coordinate individual advisers and wasting time.

Our clients are funds, companies and individuals involved in real estate investment, development, financing, operations and construction, across a wide range of matters across the CEE region and globally.

We are able to advise you from the very first stage of your intended investment, whether it is an investment in land without planning permission, land ready for development, an existing property or an entire property portfolio. Running and structuring real estate companies, advising on day-to-day portfolio management, preparing for an impending sale, distress advice. We also provide legal, tax and financial advice on the construction and operation of individual portfolios. We provide comprehensive ESG advice in the real estate sector. + zde by bylo dobré dát proklik i na stránky ESG a základní popis služeb

We specialise primarily in financial, tax, legal and commercial complex transactional advisory and compliance services.

How PwC can help

Project financing

We help with managing the entire process of obtaining project financing. Whether this involves banking or non-banking funding or subsidies, our real estate team is ready to help you to select and subsequently acquire the ideal combination of financing for your project.

Seeking investment opportunities

Being a part of the global network, PwC’s real estate team is ready to assist you with seeking investment opportunities on the local as well as international market across the CEE region.

Comprehensive transaction advisory services

Our team of real estate specialists is ready to assist you at any stage of your deal. With our many years of experience in the market, we are ready to help you across a variety of real estate sectors and markets.

Portfolio performance review

We review the performance of the property or portfolio based on the financial data provided. We can help you identify any weaknesses in your properties and then help you address them.

Our clients

We provide comprehensive advice to property development companies to set up group-wide operations, including the increasingly in-demand transfer pricing advice and subsequent representation for tax audits.
In addition, we provide a range of real estate services, details of which can be found on our website, including valuations, implementation of technology solutions to simplify group administration and new law, particularly setting up the operation of legal departments and managing contracts and other documents. These services are, of course, provided on a cross-border basis with the involvement of specialists from different jurisdictions.
There is also a growing demand for services in ESG, non-financial reporting, green finance, taxonomic requirements for building construction and refurbishment, green leases, carbon footprint calculations or ESG DD.
Naturally, there is also demand in the area of subsidy consultancy, which is linked to the various EU programmes that serve to mitigate the implementation of European ESG and related directives.
Advice on residential and downstream rental housing and structuring of individual models is also heavily used.

Investment companies and funds face similar issues to developers, but their queries often relate to their regulatory issues and the appropriate set-up of the fund itself.
Many of the queries also relate to the area of funding and associated preparedness.

Accurate financial modelling and forecasting is essential for those financing real estate projects. Our advisory services include developing financial models and conducting thorough portfolio valuations in the context of collateral, financial stability and financial performance. In addition to the financial aspects associated with project financing, we also consider the sustainability aspect, which is becoming a critical factor in real estate investments. Our consulting services include advice on sustainable practices and green building certifications. We help banks integrate environmental, social and governance (ESG) criteria into their investment strategies, in line with global sustainability trends, and enhance the long-term value of their portfolios.

Increasingly, we are seeing construction companies adjusting their compliance in every respect. Getting their processes and internal regulations right can protect them in their preventive obligations, both in civil and criminal liability.
With regard to the requirements of developers, but also with regard to the requirement for responsible procurement, the topic of ESG and its implementation within the company and on to its contractors is increasingly relevant for construction companies. Another related topic is the “carbon border tax” and waste management in general, which has also undergone changes in this area.

Our real estate services
 

Transaction advisory services

We advise on the purchase and sale of real estate on both the buyer and seller side:

  • We provide financial, commercial and tax due diligence for the purchase or sale of individual properties, portfolios, and real estate companies.
  • We can help you identify and fully understand the key risks associated with a property or company by assessing and confirming the transaction assumptions.
  • We will provide you with a contextual overview of the transaction from a financial and commercial perspective and bring valuable information to the purchase negotiations.

Tax advisory

Pre-investment tax due diligence

  • We will review the historic tax position of the target company, focused on potential risk areas that could have impact on the purchase price.
  • We will suggest the best way to treat the identified risks and deficiencies, both for the purposes of the purchase agreement and the subsequent implementation of the relevant measures after the completion of your acquisition.
  • We will suggest the appropriate measures to address the identified risks and deficiencies for the purposes of the purchase contract as well as the subsequent implementation of the relevant measures upon completing the acquisition deal.

Tax structuring

  • We will propose a potential acquisition structure and, alternatively, even the post-acquisition reorganisation (including the transfer of the real estate and business activities onto one or more companies) of the target company, taking into consideration the preference of the company members. The aim is to minimise potential VAT or other tax implications during the acquisition, possession, and subsequent sale.

Audit

We provide external auditing services and reviews in accordance with international standards and those applicable in the Czech Republic. Our auditing services include:

  • Audit or due diligence of group reporting,
  • Due diligence of interim statements,
  • Analysis of internal control systems,
  • Company administration and management,
  • Management accounting.

Valuation services

Our valuation services are covered by the Valuation & Strategy Group consisting of specialists in individual industries and the specific purposes for which valuation services are requested. This allows our people to use and combine their experience across various fields – in this particular area, with focus on real estate.

The Czech valuation team is part of the PwC Central European and worldwide network of valuation services, which enables it to regularly share its findings and knowledge. We have extensive experience with real estate valuation for various purposes:

  • Valuation of real estate for the purposes of transactions between third-parties and related parties,
  • Valuation of real estate for the purposes of non-monetary contributions,
  • Valuation of unfinished projects and development projects,
  • Valuation for the purposes of legal disputes and out-of-court settlements.
  • Upon request, we can also provide valuation services pursuant to the RICS standards.

The output valuation documentation will be subjected to the assigned purpose and it will be elaborated in the following forms:

  • Valuation report
  • Presentation
  • Expert opinion

Risk assurance

As investment funds come under increasing scrutiny from regulators, financial institutions and investors alike, the focus on risk management and compliance has intensified. Our risk assurance team has broad experience and is ready to assist you with:

  • Consulting and support in the area of internal audit,
  • Due diligence of internal control systems,
  • Ensuring regulatory compliance,
  • Assessment of structural and company risks,
  • Compliance

Debt advisory

We provide professional advice to our clients, obtaining the most flexible and cost-effective financing, whether for specific projects or on a corporate basis. Moreover, as an independent party which does not provide financing, we have no predisposition towards any specific financing instrument. On the part of financial institutions, the involvement of PwC Real Estate provides comfort that the materials presented conform to the highest industry standards.

Accounting

Our accounting team is ready to provide you with accounting services including:

  • Set-up and administration of daily accounting tasks,
  • Preparation of statutory reporting and year-end closings,
  • Migration of corporate general ledger accounting (US, GAAP, IFRS, HB II, etc.) to local accounting,
  • Monthly controlling, reporting,
  • Consolidation,
  • Technical consulting services, including any adjustments or optimisation of the current booking and accounting system, including automation.

Payroll management

We will take care of the complete HR and payroll agenda:

  • Monthly calculation of wages and deductions,
  • Payment order processing,
  • Registration/de-registration of new employees/outputs,
  • Communication with social security administration, health insurance companies, tax office,
  • Annual tax reconciliation and settlements,
  • Complete HR agenda.

Treasury

Our treasury team has helped a number of funds to implement risk management strategies such as foreign exchange and interest rate risk. Our team is ready to assist you with:

  • Design and implementation of the right model for the purposes of governance and control of your treasury processes,
  • Cash flow and liquidity management to gain an overview of the cash and working capital and to forecast future flows,
  • Preparation of integrated cash management system.

Legal services

Our lawyers are professionals who combine their knowledge of the law with their years of experience from real estate business. Our legal department is ready to help you with the following:

  • Mergers & acquisitions,
  • Comprehensive legal advice on construction, including representation in permitting processes,
  • Real estate due diligence and comprehensive transactional legal advice,
  • Comprehensive legal advice on asset management and property management,
  • Restructuring,
  • Comprehensive legal advice on financing and for development and acquisition loans, equity financing / JV structuring,
  • Insolvency and restructuring,
  • Comprehensive legal advice in the hospitality industry,
  • Real estate litigation.

Contacts

Matěj Čaňo

Matěj Čaňo

Partner, Tax & Legal Services, PwC Czech Republic

Tel: +420 602 624 166

Olga Kaizar

Olga Kaizar

Director, PwC Legal

Tel: +420 602 344 681

Olga Řehořková

Olga Řehořková

partner, PwC Czech Republic

Tel: +420 251 152 158

Richard Jones

Richard Jones

Advisory - Deals, PwC Czech Republic

Tel: +420 735 729 800