ARTICLES LABELLED WITH TAG residential

Net profit of PLN 51 million, an increase in the value of office projects under construction and handing over to customers 399 apartments – this is a brief summary of Q1 2022 results of Echo Investment Group. The developer also published its second sustainability report where it summarised last year's achievements and results in the areas of environmental, social and corporate governance.

PPF Real Estate has teamed up with US developer Aventon Companies to enter the US residential market. Together they will build a residential complex with more than 300 residential units in Orlando, Florida by 2023. PPF intends to replicate this model of cooperation in other projects in the US, the company announced.

LivUp's new investment has reached full occupancy after only one month after launching. Currently tenants of "Puławska 186" are mainly corporate clients, who have settled in high standard apartments. 

Due to the high prices of flats and houses, less availability of mortgages, extreme inflation, as well as the rising price of building materials and labour, people in the Czech Republic are now looking more for rental housing. The influx of refugees from Ukraine has also significantly increased the interest in renting. Under the influence of the enormous demand, rental prices are thus starting to reach the pre-Covida level, and in some places have already exceeded it. According to PSN, the availability of apartments is decreasing and the company is now preparing entire projects for rental housing.

House prices in Hungary have reached a new record in 2021. In Q4 2021, the biggest jump occurred in secondary cities compared to the last quarter of 2020 (25% year-on-year) followed by Budapest (11% year-on-year), the National Bank of Hungary (MNB) reports.

Romanian IMPACT Developer & Contractor has recorded a gross profit of 16.7 million lei (€3.3 million) in the first quarter of 2022, up 49% compared to the same period of last year over higher residential sales. 

Property developer Prime Kapital has received the building permit for Pleiades Residence in Ploiești and will start construction by the end of spring.  

Romanian developer One United Properties said its first quarter turnover gained 81% to €70.5 million compared to Q1 2021, while its gross profit rose almost fourfold to €42 million over higher residential sales and rental income. 

Prague 3 has spoken out against a development project planned by the developer UDI Group in Žižkov. The town hall is bothered by the size of the project. The developer accuses the authority of arbitrariness and threatens to sue. Martin Roman, an ex-CEZ Group boss, has a stake in the project, writes seznamzpravy.cz.

Investment group DRFG has acquired land near the main railway station in Olomouc (the eastern province of Moravia in the Czech Republic) in March this year and plans to build flats and commercial premises there. It plans to build a multifunctional residential complex with retail space and offices on this brownfield site with a total market value of CZK 2.6 billion and an area of 43,000 sqm by 2025. The architectural design of the complex is currently being finalised. DRFG Group informed about its new acquisition and construction plans in a press release today.