ARTICLES LABELLED WITH TAG Central Group

A complex of three Komerční banka office buildings with an area of more than 12,000 sqm has been bought by Central Group in Prague 9. These are non-residential premises that can serve as emergency facilities and space for NGOs assisting refugees in the current war situation in Ukraine. The developer informed about the offer of the complex on its website, along with information about stopping the sale of apartments to citizens of Russia and Belarus who do not reject the aggressive and barbaric actions of their countries towards Ukraine.

The largest new residential district in the Czech Republic, which will be built on a brownfield site, is starting construction in Prague 3 in Žižkov. It could house up to over 5,000 people. The planned investment is estimated at CZK 20 billion. According to the plans of the developer Central Group, the first inhabitants could move in as early as 2024. The entire Park District should be completed within ten years, the developer plans.

During H1 2021, Czech residential developer Central Group has completed the acquisition of land plots in three Prague locations, Žižkov, Hloubětín and Vysočany, for CZK 750 million. It plans to build almost a thousand new apartments on the land.

The availability of housing in Prague has slightly improved this year, but it is still incomparably worse than in the surrounding metropolises. The inhabitants of Prague have to work 13.9 years for an average 70 sqm apartment. In Vienna, for example, such a purchase only cost 8.7 annual salaries. Compared to last year, a slight improvement was registered in 2020, but the effect of the coronavirus crisis has not yet been reflected in wage statistics, according to Czech residential developer Central Group.