News Article Czech Republic development Panama residential UDI
by Property Forum | Residential

In September, Czech developer UDI Group started selling apartments in its first project overseas. The group not only handles the entire sales transaction for the apartments but also the follow-up servicing or leasing. Construction of the 15-storey condominium in the financial district of Panama City's capital is expected to be completed in 2026. 

"We want buyers in the Czech Republic to be able to benefit from the fact that although we were established in the Czech Republic years ago, we now operate in six countries on two continents," said Zuzana Čižmáriková, the group's sales director. The SQ72 project will be built in the financial district of San Francisco, which is just a few hundred metres from the Pacific coast, but at the same time in the centre of all economic activity. UDI Group is ready to help investors with subsequent management or leasing of the purchased property.

According to UDI Group, the initial investment in a home in this location is significantly lower than in European capitals. The average 60 sqm apartment here costs around CZK 5 million (€204,000). This is a higher segment project, which, in addition to housing and parking, offers a range of services, including a social floor with a swimming pool, gym or coworking space, but also a children's playroom, lounge or cinema. The group has been granted planning permission for the project and will start construction within the next year, with completion expected in 2026.

SQ72 in the San Francisco area of Panama's capital is UDI Group's first project in Latin America. However, the group is already developing another even higher-end project in Panama City in the coastal Coco Del Mar area near the Pacific Ocean. A project in the Costa Rican capital San José is also in the pipeline. The architect for the group's Latin American projects is leading Danish architect Morten Schmidt, who is working with local studios on them. 

In Warsaw, the group is currently building the second phase of the Classic Ursus project in a modern location on the outskirts of the Polish capital. In Belgrade, Serbia, the Lastavice project is being built under the colours of UDI Group, with 500 apartments in two apartment buildings, the first of which has already completed rough construction and is gradually being finished.