Passerinvest Group has announced strategic investments worth over CZK 20 billion (€796 million) with an ambition to transform the Prague real estate market over the next 20 years.
During this period, Passerinvest will bring a total of 180,000 sqm of office, residential and retail space to the market. The construction will also involve the transformation and cultivation of 5.5 hectares of public areas, such as parks, relaxation areas and water areas. By 2029, another residential project with 650 residential units for sale and rent and four new office buildings will be built, two of which will contain a total of 200 rental apartments and commercial spaces.
The year 2024 was crucial for Passerinvest, primarily in terms of shaping the strategy for future development. The company began construction of the Hila project in Brumlovka of 27,000 sqm. The project combines work, rental housing and shops with horizontally divided functions. The completion of this economically diversified project is planned for the turn of 2026/2027.
The company's further construction in Brumlovka is enabled by obtaining a building permit for the mixed-use Orion building with an area of 28,000 sqm. It is already in the preparatory construction phase and will also combine city-forming segments, i.e. office space with housing and a ground floor dedicated to retail. The building will be LEED PLATINUM, PENB A certified and will meet the parameters according to EU TAXONOMY. Brumlovka has received the Fitwel certification with the highest rating, the only one in continental Europe.
Passerinvest also continues to develop Prague's Roztyly. Last year, the company completed the Roztyly Plaza office building with an area of 23,000 sqm and obtained a building permit for the Sequoia office building with an area of 33,000 sqm. So far, the latest project being prepared in the location is the Arboretum residence. It will offer approximately 400 apartments for sale and 250 for rent.
In both locations, the transformation and cultivation of a total of 5.5 hectares of public spaces, greenery, parks, playgrounds, sports fields and water features will also take place simultaneously, to fulfil the strategy of creating short-distance cities.
