Star Group adds new phase to Prague resi district

24
Jun
2024
News - Star Group adds new phase to Prague resi district #Czech Republic #Prague #residential #Star Group

by Property Forum | Residential

The developer Star Group is launching the construction of ten residential villas in Prague 8 - Dolní Chabry according to the design of the architectural office Loxia. The developer has released 120 apartments as part of the pre-sale, 40% of which is now gone.


The construction of almost 250 apartments in one stage is unusual in the current market. According to Czech statistics office data, construction production fell by 8.3 per cent year-on-year, while building construction fell by 11.1 per cent, and recorded a three-year low. When new projects are started, they are usually divided into smaller portions. The current stage of the Nové Chabry project consists of almost 20,000 sqm of living space, divided into ten low-rise apartment buildings. It offers 242 apartments of various sizes. Each apartment has a balcony, garden or terrace. Part of the parking spaces in the basements of the buildings will also be offered for sale to existing residents from previous stages.

Star Group built more than 620 new apartments in the location between 2014 and 2021. As part of the previous stages, the developer constructed and handed over a new kindergarten to the city district and a neighbourhood community centre. Star Group has been financing the operation of this community centre for two years. Total investments in public facilities, including contributions, donations and support of community life within Nové Chabry have already exceeded CZK 180 million (€7.24 million).

The new owners are expected to move into their apartments at the end of 2026. The developer is investing CZK 2 billion (€80 million) in the new stage of the project. "Despite more than a three-year pause in the project construction, many people waited for a new stage," said Tal Grozner, CEO at Star Group, and added: "We try to cooperate intensively with local authorities and city districts. It is necessary if we also want to respect wider relations in the territory and not just build separate satellites with all their faults. We always want to be a good neighbour.“

Construction began in May 2024, and the building use approval is planned for August 2026. The general contractor is Swietelsky stavební.

 




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

Property Forum ABOUT US

Property Forum is a leading event hub in the CEE real estate industry with over 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Warsaw, Budapest, Bucharest, Bratislava, Prague, Zagreb and Sofia, amongst other locations.
Please send press releases to
newsdesk AT property-forum DOT eu
MORE >

CONTACT

NEWSLETTER

 

Property Forum © 2017 – 2026 | Terms & conditions | Privacy policy