Palmer Capital plans to invest CZK 60m into a new residential development in Úvaly, a small town to the east of Prague. The investor chose BAU-STAV as construction company in February and in March, shovel work started on the site. The project, called Bydlení Úvaly, will offer 22 low-energy apartments in the first phase. The flats ranging from one to three rooms are on offer at prices between CZK 1.6m to CZK 4.4m. Palmer plans to build a whole new neighborhood on the 65 hectare site it bought in Úvaly including flats, a school, pre-school and services. The first phase is scheduled for completion in autumn next year.
