ARTICLES LABELLED WITH TAG Czech Republic

The company BTL together with Lucerna Palace's current owner Dagmar Havlová have founded the company Palác PL. Havlová has invested the property of Lucerna into Palác PL retaining a 25% share. The remaining 75% have been acquired by BTL in exchange for almost CZK 1 billion (€40 million), reports Forbes.cz.

UBM Development Czechia is completing the Timber Praha residential project, the first sustainable timber apartment building in Prague. Unlike multi-storey foreign projects, this one has reached a height of four floors, i.e. 12 meters of fire height.

CPIPG has announced further progress in the Group’s strategy to reduce leverage. CPIPG and its subsidiaries, CPI FIM SA and Czech Property Investments have signed a partnership agreement through which CPIPG is going to sell a 49% common equity stake in Vulcanion for €250 million to funds managed by Sona Asset Management.

The transformation of the so-called Pentagon in Palmovka district in Prague 8 has moved closer to reality. The Prague city deputies have approved a change to the city master plan this week, enabling the coordinated urban development of this area.

The developer Star Group is launching the construction of ten residential villas in Prague 8 - Dolní Chabry according to the design of the architectural office Loxia. The developer has released 120 apartments as part of the pre-sale, 40% of which is now gone.

Developer Concens Investments has started construction of Phase II of the Ostrava Airport Multimodal Park (OAMP) project, located near Ostrava's Leoš Janáček Airport in Mošnov. Its completion is scheduled in Q3 this year.

At their recent session, the Prague councillors agreed to the amendment of the zoning master plan concerning the space of railway tracks of the Main Railway Station. The possibility of construction in this important city location has not been defined at all so far. With this step, the city is planning to retain full control over future construction.

The construction of the Astrid Garden project by UBM Development Czechia is reaching its construction end and completion. The complex of seven newly built and one reconstructed building from the beginning of the 20th century in the Holešovice district in Prague is scheduled for approval in July 2024.

The Institute of Planning and Development City of Prague (IPR) has completed a new study dedicated to the state and development of the number of municipal apartments in Prague. 29,841 apartments are currently owned by the capital city and its districts.

International investment and development group AFI Europe and Czech developer Finep have announced two signed transactions adding more than 800 apartments in two different locations to the Prague rental housing market over the next three years.