J&T Real Estate has purchased two hectares of building land on Rohanský island in Prague's Karlín district from the Rohan Consortium, in which Sekyra Group has a half share. In the future, J&T Real Estate plans to buy another two hectares and build the Nový Rohan district for CZK 15 billion (€613.5 million). The company did not disclose the specific price of the acquisition but said the value of one square metre exceeded CZK 20,000 (€818), ČTK reported, cited by online daily newstream.cz.
Construction of the first stage of the planned project is expected to start in the second half of next year and will be located at the corner of Voctářova and Štorchova streets, according to the Czech News Agency. A total of 258 apartments, three office buildings with services and a piazzetta will be built. The architectural design was prepared by four domestic studios and the renowned Slovenian studio Bevk Perović arhitekti. Approximately 1,000 flats are to be built, including further phases.
A new metropolitan park will be built on 56 hectares of land adjacent to the New Rohan. It will include an outdoor structure with a hanging memorial bell from initiative #9801. It is to commemorate the fate of 9801 bells confiscated by Nazi Germany during World War II and melted down for weapons purposes. The Rohan Consortium was founded in 2007 and has an option with the Prague City Council to purchase land in the Rohan Island area of Karlin. The consortium bought approximately 20 hectares from the city for CZK 1.68 billion (€65.4 million). The island area was to be used for 55 percent of residential buildings and the rest for offices. The total number of apartments could have been between 1,200 and 1,300.
The consortium is also co-owned by J&T, which has a 32 percent stake in the company. The rest is provided by smaller investors. J&T Real Estate bought the land in accordance with the Project Implementation Agreement and the fixed selling price of CZK 8,567 per sqm (€350 per sqm) has since been increased by the inflation index to more than CZK 20,000 (€818). However, the consortium has not yet bought all the planned plots from the city. The total share of the individual investors in the consortium will remain unchanged after the acquisition. The Sekyra Group also still owns a larger construction area than J&T.
