Developer Crestyl and investment partner WOOD & Company have unveiled plans for their Šárka residential project in the Vokovice district of Prague, adjacent to the Divoká Šárka nature reserve. The scheme will deliver 18 villa buildings containing 224 apartments, four family houses positioned at the edge of woodland, a kindergarten and a building for retail and service uses. Construction of the first phase, comprising 98 apartments, is set to begin at the turn of the year, with completion expected in 2029. Total investment will exceed four billion Czech crowns.
"Šárka is an opportunity to live in a district of Prague 6 on the boundary of a protected area, in a project where quiet, nature and privacy are a physical reality of the place, not a marketing promise," said Tereza Matějíková, commercial and marketing director for residential property at Crestyl. She added that the project is aimed at discerning buyers who value quality without compromise.
WOOD & Company's involvement marks the third acquisition in its residential sub-fund. "The Šárka project fits ideally into the long-term strategy of our residential portfolio," said Martina Jůzová, portfolio manager at WOOD Real Estate. "Together with our development partner, we place emphasis on a responsible approach to the urban development of the area and on supporting local civic amenities, which will of course also serve residents of the surrounding neighbourhood."
The architectural concept was developed by the studio Chmelař Architekti, led by David Chmelař. The design draws on the surrounding landscape, with building volumes shaped to echo the rock silhouettes of Divoká Šárka. Stone and timber feature prominently on surfaces accessible to residents, while terraces, balconies and front gardens are treated as natural extensions of each apartment. Underground parking keeps the space between buildings open. First-phase apartments range from two-room to five-room layouts, covering 62 sqm to 165 sqm, with penthouses also included.
The project includes a new kindergarten for 50 children, which Crestyl will transfer to the municipality free of charge after completion, expanding the existing network of kindergartens in Prague 6. A separate public services building near the kindergarten and a public transport stop will offer space for retail, medical practices or a café. A woodland exercise area is also planned at the edge of the site. WOOD & Company's residential sub-fund, open to qualified investors, targets an average annual net return of 12–15%. Its net asset value exceeded €81 million as of 30 June this year, and the sub-fund delivered a return of more than 17% to investors over the preceding 12 months. Public sales are scheduled to launch in autumn this year.
