Park Properties has purchased two land plots on the shores of Pipera and Balotesti lakes near Bucharest, where it plans to start two new residential developments with an estimated value of more than €40 million.

The Prague 14 municipal district has managed to start construction on a 30-year neglected area near the Černý Most metro station. It was only possible when the municipality took over the area affected and was able to improve it. This finally began to happen in mid-September this year, when the construction of a new modern multifunctional building started on the site. What is new is that the Prague 14 councillors at their December meeting approved the conclusion of a contract for the construction and financing of the building with the company Dostupné bydlení České spořitelny (Affordable Housing Česká spořitelna, DBČS). The latter will invest CZK 200 million (€8.156 million) in the project. The total cost of the project is estimated at €25.7 million.

A multifunctional complex called Nový Majerhof is to be built in the Vrakuňa district of Bratislava, as TASR informs. The investor, Malý Dunaj Development, submitted the project for environmental impact assessment (EIA). Estimated investment costs are approximately €50 million.

Speedwell says it has completed the construction works for the first 123 apartments in the mixed-use urban regeneration project Paltim, based in Timișoara. The delivery of the apartments is expected in Q1 2024.

Lucian Butnaru, the owner of the SelfPay payment company, has started two build-to-rent projects in northern Bucharest that will target renters in the premium residential segment.

The EHQ multifunctional complex on Bottova Street in Bratislava by local developer Immocap, consisting of an office and a residential part, was submitted for an environmental impact assessment (EIA), YIMBA.sk reports.

Following the extension of the Eurovea waterfront, JTRE presented its new project in Bratislava. The project called Downtown Yards will transform a former industrial site into a residential area. Sales and construction will start next year, and the project already has a building permit.

At the peak of the construction season, there were double-digit year-on-year drops in the issuance of building permits and approvals, the Statistical Office of the Slovak Republic reports. The number of started dwellings was significantly behind even the pre-pandemic period, but the completion was higher. The pace of completion and the start of construction slowed year-on-year in up to 6 regions.

Nusco Imobiliara has already sold 30% of the residential units comprising the second phase of urban regeneration project Nusco City, based in northern Bucharest.

A number of branded residential schemes increased by over 160 percent in the last ten years. The residential sector became attractive even for prestigious "brands" from non-residential sectors such as Versace, Fendi, Armani or Tonino Lamborghini and they have also expanded their presence into this segment across major cities around the globe. Nevertheless, the concept of branded residences is not present in the Czech Republic yet, says a Savills report.