Investing in the Czech Republic – Outside of Prague – Part 2: Olomouc Property

Olomouc is an excellent choice for real estate investors and following
is a profile of the city. Those of you who have read my newsletter before know my dispassionate
style of presenting things so here are the facts on Olomouc as they may affect investors…

Area: 103.36 km2

Population (latest data December 31, 2003): 101,268

Distance from important European and Czech cities:

City /
kms

Brno / 76

Ostrava / 100

Prague / 277

Vienna / 198

Bratislava / 197

Warsaw / 474

Budapest / 389

Berlin / 500

Paris / 1 302

Average monthly salary for Olomouc region (2003): 15 491 CZK

Average monthly salary for Czech Republic (2003): 17 445 CZK

Average monthly salary for Czech Republic (2005 2nd Q): 18 763 CZK

Education: 16% of residents in Olomouc have University level education

Average temperature in January: – 2°C to -4°C

Average temperature in July: 15°C to 19°C

Foreign Investors in Olomouc

(by no means comprehensive, only a sampling)

Investor (Country) / Business Activity / Year /Employees (2004)

Nestle Cesko, s.r.o. (Switzerland) / Production of chocolate and chocolate candies / 1992 / 800

Foundeik, s.r.o. (Spain) / Foundry / 2000 / 215

M.L.S. Holice, spol. s.r.o. Group Leroy (France) / Production of alternators; sale, maintenance and repairs of rotating electric motors / 1922 / 770

Mora Aerospace, a.s. (USA) / Development, designing, production, testing, maintenance, repairs, modifications and construction changes of the aviation technique / 1999 / 640

Mora Moravia a.s. (Slovakia, Hungary) / Manufacture and sale of cooking technology appliances / 1996 / 640

Senior Automotive Czech, s.r.o. (UK) / Production of shaped aluminum and steel pipes for the automotive industry / 2001 / 260

SIWE, a.s. (Austria) / Production of forming, cutting and bending tools / 1992 / 143

TIMKEN Ceska Republika, s.r.o. (USA) / Production of needle and roller bearings for automotive and engineering industry / 2001 / 523

Skanska DS, a.s. (Sweden) / Construction of motorways, city roads, parking areas; construction and reconstruction of bridges, sewage systems / 1954 / 185

Exerion Precision Technology Olomouc, s.r.o. (Netherlands) / Metalworking and assembly of metal-frame structures and functional modules / 1998 / 110

Other Investment News

Schneider Logistics, a leading global logistics company, opened new shared services centre in Olomouc. Thanks to this million euro investment more than 300 new highly qualified jobs will be created here.