News Article build-to-rent Czech Republic development housing residential
by Vera Tumova | Residential

Over the next 10 years, development group Creditas Real Estate plans to invest €1.151 billion in residential construction in the Czech Republic. It wants to build up to 5,500 apartments, of which 1,000 should be for rental housing. The company's CEO Jiří Vajner informed journalists about this.

Creditas Real Estate plans to build 13 residential projects in the Czech Republic. In six of them, it will sell apartments, in four it will rent them out and in the remaining three it will combine both. Among the cities where it plans to build are Prague, Pilsen, Kladno, Klecany and Brno. Jiří Vajner estimates the investment costs for the part of the residential construction for sale at €941 million. In the case of rental flats, he says, the construction of rental flats will cost about €214 million.

Creditas Real Estate's first rental housing project is Loox in Prosek, Prague 9. There are currently 85 fully furnished and equipped apartments and ten commercial units available for immediate occupation. In June 2024 the U milosrdných project in Prague 1 will be completed with 27 apartments and 2 commercial units. The Jinonický dvůr project with 140 apartments in Prague 5 is scheduled for completion a year later in June 2025. The Západní Brána project in Brno with 896 apartments is expected to start construction within the next two years. The developer plans to allocate about one-third of the apartments for rental housing.

Other projects where apartments will be sold include Jinonický dvůr, Nové Boroviny in Kladno and Creditas Real Estate's largest residential project Nová Valcha in Plzeň with 1,100 apartments and family houses.