Central Group is planning to add 600 new flats in five different locations to the Prague residential market this fall. The developer will start new phases of its Letňanské zahrady project in Prague 9 as well as Nad Modřanskou roklí in Prague 4. Central Group is also set to break ground on a new project in the wider center of Prague. In addition to its current offer, the company will also be selling 900 units across 14 locations in Prague. Central Group’s executive director, Michaela Tomášková, says that due to its active acquisition strategy, the developer owns sites that can accommodate a total of 20,000 flats, making it more competitive. The middle segment makes up 70 percent of the total for the developer. The company believes it will be able to offer 1,000 new units to the market in 2017, but Tomášková admits last year, the number was 25 percent higher. Central Group earned CZK 5.5bn in 2016 from selling flats, houses and plots as well as from investment transactions.
