Central Group Kunovský bought land in Prague for 750 million. He is planning a thousand apartments on them
The largest apartment builder in the Czech Republic, the company Central Group of billionaire Dušan Kunovský, is expanding its portfolio of land for residential construction. The newly acquired premises are located in three Prague localities – in Žižkov, Hloubětín and Vysočany.
The investment reached a total of 750 million crowns and the developer of services on land in accordance to build up to a thousand new apartments. Until the start of construction, the premises in the areas, where there are now mainly warehouses or production, will be leased.
The largest acquisition was the purchase of a brownfield with an area of less than fifteen thousand square meters in Prague 3. To build up to five hundred flats with shops and services on the land between Habrová and Na Jarově energie Kunovský streets. The central group Na Žižkově is gradually building its shop window.
He owns the land at the former Žižkov freight station, where the construction of the Park District will begin at the turn of the year. Across Jana Želivského Street stands the former Cetina building, where Central Group planned to build towers by architect Eva Jiřičná, but eventually decided to redesign the project.
In addition to this planned project, there is already the Residence Garden Towers residential complex with almost seven hundred apartments, which Central Group completed in 2016. And a little further on, Kunovský also owns complex office buildings at the Olšanská tram stop.
“With the acquisition of the Jarov complex, we have further expanded our portfolio of projects in Žižkov. We perceive this location as very promising, which is also confirmed by the huge interest in our nearby Parková čtvrt project, ”describes Kunovský’s reasons for buying additional land in Žižkov.
The Central Group has now also bought another two plots of land in Prague 9. In Vysočany, on the site of the current production and retail building, according to the developer’s ideas, the project has a project of up to 180 flats.
The second location is near the Hloubětín metro station. Today’s complex, which now houses mostly smaller surgeries, the company needs to replace up to 130 modern apartments and commercial premises, in which the preservation of medical services is also planned.
“We focus mainly on large projects on brownfields, on which we will build completely new neighborhoods. However, we would like to supplement these large projects with smaller locations with excellent transport accessibility. This is exactly the case of both new acquisitions in Prague 9, “says Kunovský.
According to him, the company has another billion and a half ready for the purchase of new land for this year. “Our great advantage is that we do not draw any bank loans and we finance all acquisitions from our own resources. Thanks to this, we are able to buy land and commercial premises quickly and with immediate payment of the price immediately upon signing the purchase contract, “he adds.