Radovan Vítek, the third richest Czech according to the new Forbes ranking, is poised to start redeveloping the former Zbrojovka Brno area. His company CPI PG acquired the 22 ha brownfield in Brno in 2007, in partnership with J&T, which later sold its share to CPI. Vítek plans to build 800 flats, 30,000 sqm of offices and a similar proportion of industrial space in the area. Costs are estimated to run to CZK 4bn. The project is still awaiting a change to the master plan. CPI plans to start clearing the area before the end of the year. Damaged buildings will be torn down, but six of the original buildings will be refurbished. Construction of first two new buildings should start in 2020.
