News Article Czech Republic development Horizon residential
by Property Forum | Residential

Czech development group Horizon has a record year behind it, despite the uncertainty and difficult conditions caused by the COVID-19 pandemic. In 2020, the company's total revenue from the sale of 337 units in five different projects reached €100 million (CZK 2.7 billion). Horizon plans to build around a thousand more units this year and will put another 550 apartments on sale.

Last year, over 330 owners found a new home in the Zahálka, Modřanka, Čámovka, Kay River Lofts and Velká Brána projects. Horizon is continuing on from last year's record revenues with ongoing and new activities. These include the launch of the Sluncová project, the launch of other construction phases of the Zahálka projects, and the approval of Kay River Lofts premium boutique housing. Horizon is meanwhile planning acquisitions to significantly expand its portfolio.

"In the capital, those interested in housing are facing a lack of supply in the residential construction market. The number of flats built annually does not correspond to the high demand that we are seeing from buyers. It gives me great pleasure to know that our activities are making a significant contribution towards fixing the problem, and that there are such high levels of interest in our diverse portfolio of projects,” says Yishay Furman, CEO of Horizon.

The Horizon development group is currently implementing the Rezidence Modřanka, Čámovka, Kay River Lofts and Zahálka residential projects, and through gradual increases hopes to have more than 1,000 housing units under construction this year. Completed projects include Velká Brána, Rezidence Vltava and Na Hrádku.