Investment group RSJ and developer Na Jelených have formed a long-term partnership to develop the Na Jelených site in southern Prague. Together they are preparing a large-scale build-to-rent project comprising approximately 5,500 rental flats for up to 16,000 residents, with a total value exceeding CZK 50 billion. The first construction phase is set to begin next year, with the full project expected to be delivered over approximately ten years.
The partnership combines Na Jelených's existing knowledge of the site, built up by Michal Kocián, with the financial resources of RSJ. Both partners intend to establish a new standard for institutional rental housing in Prague, with the entire area to be managed by a single rental fund in the future. The project is built around a "Connected Life" concept, linking housing with workplaces, services, education, sport and green space.
"At Na Jelených we want to create a genuine part of Prague, a place with its own life and centre, where rental housing will not be a temporary solution but a real home. The partnership with RSJ allows us to develop this vision on a long-term basis and at the scale the site deserves," said Zdeněk Soudný, executive director of Na Jelených, who leads the project.
"Large cities today do not simply need more flats. They need good places to live that give people a real opportunity to put down roots. Na Jelených has a strong location, scale and transport access, with a direct connection to Chodov metro station and, in the future, to Opatov. The long-term nature of the project and the chance to contribute to a new living part of Prague are the main reasons for our entry into this partnership," said Lukáš Musil, board member of investment group RSJ.
The Na Jelených site is intended to function as a connecting point for the wider southern Prague area rather than an isolated residential development. "Prague cannot grow simply by adding more housing to its periphery. It needs new everyday centres offering work, services, schools, sport and green space, directly and quickly connected to the city centre. Na Jelených has all the conditions to become exactly that for southern Prague," said Soudný.
"Individual phases will follow on from one another so that construction progresses efficiently and the new district can offer quality amenities for daily life as soon as possible. Na Jelených will make a significant contribution to housing availability. We are seeing strong interest from large institutional funds, including international ones," added Lukáš Musil.
