UBM Development Czechia has prepared an open-door event to educate the general and professional public. Guided tours of the Arcus City and Timber Praha residential projects are organised to support sustainable timber structure development strategies in the Czech Republic.

The Victoria Palace building on Vítězné Square in Prague has received valid building use approval. The project developed by Penta Real Estate and Kaprain has been designed with 92 high-end apartments and retail units on the ground floor. 

Danube House is a landmark office building in Riverside Karlin, anchored by international occupiers from tech, start-up, legal, and banking industries. After 20 years of operation, it is now undergoing comprehensive refurbishment.

The YIT company has sold the Rivi Bachova project in the Praha-Chodov district to the Rivi Construction Cooperative. The interest in cooperative housing is increasing given the situation in the Czech mortgage market.

The company BTL together with Lucerna Palace's current owner Dagmar Havlová have founded the company Palác PL. Havlová has invested the property of Lucerna into Palác PL retaining a 25% share. The remaining 75% have been acquired by BTL in exchange for almost CZK 1 billion (€40 million), reports Forbes.cz.

UBM Development Czechia is completing the Timber Praha residential project, the first sustainable timber apartment building in Prague. Unlike multi-storey foreign projects, this one has reached a height of four floors, i.e. 12 meters of fire height.

CPIPG has announced further progress in the Group’s strategy to reduce leverage. CPIPG and its subsidiaries, CPI FIM SA and Czech Property Investments have signed a partnership agreement through which CPIPG is going to sell a 49% common equity stake in Vulcanion for €250 million to funds managed by Sona Asset Management.

The transformation of the so-called Pentagon in Palmovka district in Prague 8 has moved closer to reality. The Prague city deputies have approved a change to the city master plan this week, enabling the coordinated urban development of this area.

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.

At their recent session, the Prague councillors agreed to the amendment of the zoning master plan concerning the space of railway tracks of the Main Railway Station. The possibility of construction in this important city location has not been defined at all so far. With this step, the city is planning to retain full control over future construction.