ARTICLES LABELLED WITH TAG Crestyl

Crestyl has fully launched its new Dornych project in the neighbourhood of Brno's main railway station, offering a clinic, hotel, coworking and dozens of restaurants, bars and cafes. At the end of October, the old shopping centre has been closed and is now being cleaned out and is awaiting gradual demolition.

For the first time in almost thirty years of Czech development group Crestyl, the person in the position of international CEO is changing. Simon Johnson, who has held the position of COO of the group for the past 14 years within Crestyl and also acted as executive director for the Czech Republic, is taking over the management of the entire group.

The development group Crestyl is returning the Baroque Savarin Palace in the centre of Prague to the cultural map of the metropolis. The most valuable historical spaces of the newly renovated listed building by Kilian Ignác Dientzenhofer are opening doors for exhibitions instead of the casino.

Crestyl has completed two residential houses in its Prague development district Hagibor. The Gamma building with 138 apartments for sale and the Delta building with 168 apartments for rent have passed the building use approval in July.

Development group Crestyl has presented the new Kappa residential building on Prague's Hagibor next to the Želivského metro station. The construction of the fifth apartment building within the Hagibor project is starting at the beginning of 2025, with completion scheduled for 2027.

The Dornych project by Crestyl Group is to replace the old shopping centre in the neighbourhood of Brno's Central Station in the upcoming years. The developer has now announced a hotel as a part of this development. Its opening is planned for mid-2028.

Design and construction consulting office Obermeyer Helika has completed and handed over the documentation for the construction of the Semerínka residential project in Prague 5 Radlice developed by Crestyl. The construction of the project has started.

The Dornych project of Crestyl Group replacing the old shopping centre in the neighbourhood of the Brno Central Station has received a building permit.

Czech developer and investor Crestyl has strengthened its position in the Central European residential property market. This week it completed the acquisition of the remaining 50% stake in one of Poland's largest residential developers Spravia (formerly Budimex Nieruchomości) from Cornerstone Partners, giving it full control of the company. Both partners initially bought the Polish developer in 2021 for PLN 1.51 billion (approximately CZK 8.5 billion) in one of the largest real estate deals in CEE. The price of the current transaction has not been disclosed. This acquisition will enable the integration of Spravia into the Crestyl Group, while further strengthening Crestyl’s balance sheet from the current €850 million to €1.3 billion, with the intention to grow further in both markets.

The new residential project Semerínka, backed by the developer Crestyl, has received a building permit and construction will begin during the autumn. The Semerínka project in Prague's Radlice district, consisting of four blocks of varying heights, will offer 185 apartments.