RSJ, an investment group that focuses on financial markets and insurance, plans to expand its property holdings. Current projects include a hotel on the island of Zanzibar, scheduled to open in the summer of 2017, along with a mixed use building on Revoluční street in Prague 1, that the company plans to complete in two years.
Libor Winkler, managing partner in RSJ, told Hospodářské noviny the company’s property business was financed from its financial markets business until recently, but that projects such as the shopping center Centrum Pivovar in Děčín, or Algamo in Mostek are now producing returns. Having sold its residential portfolio in Prague and Brno, RSJ is now bidding on new investment opportunities such as the Hilton hotel in Prague. ”There is a strong pressure from Russian and Chinese investors, who always offer a higher price,” says Winkler.
