KKCG Real Estate, the property arm of the KKCG investment group, has started demolition work on Top Rezidence in Prague 6-Šárka. The developer acquired the project with permits from the Irish investor Avestus, but redesigned it in cooperation with architects Šafer Hájek and Olgoj Chorchoj. KKCG expects to secured a new construction permit by March. KKCG plans to invest around CZK 600m into the project and is currently negotiating with two potential lenders, according to Petr Pujman, director of KKCG Real Estate. The project will offer 50 family houses, built in two phases. The scheme also includes a clubhouse that will go up around the neighborhood’s landmark: a chimney from a brickworks factory that once stood on the property. House prices will range from CZK 12.5m to CZK 26m. The project is scheduled for completion in 2017.
