PSN will build 3,000 flats in 25 projects for more than CZK 11 billion over five years. The developer has another ten billion for new acquisitions, according to PSN.
The developer’s projects include the Vanguard building in Modřany, Prague. The building is created by the reconstruction of the former Microna factory, where aircraft technology and instruments were developed and manufactured. There will be 150 lofts on 14 floors.
“The projects just launched include Rezidence U Sv. Štěpána – reconstruction of a set of three town houses in the center of Prague, to whom we want to restore the historical charm of the local genius loci through sensitive renovation, or reconstruction of an Art Nouveau apartment building in Prague’s Letná with 40 flats,” said the director PSN projects Marek Padevět.
Last year, the developer sold 294 apartments with a total value of CZK 1.5 billion. The company has also entered into agreements for 800 new or extended leases in the amount of approximately CZK 70 million.
In addition to the purchase of land for CZK 870 million in Prague in Vinohradská Street, where the Transgas building used to be, PSN is preparing to rebuild the Koh-i-noor factory in Vršovice, where 550 flats will be built.
According to Pavel Streblov, Director of Commercial Construction at Penta Real Estate, there will be a larger housing project at Transgas. “We definitely want to preserve the character of the locality. Vinohrady is mainly a residential area, so together with PSN we want to prepare a project that will be primarily residential with only a small part of the project dedicated to offices and business units on the ground floor,” Streblov said.
“These are, for example, new apartment buildings in Prague’s Litevská, Drahobejlova and Přívozní streets or family houses in Miškovice, where we are preparing the construction of 55 family houses and 45 apartments,” said Štěpán Smrčka, PSN’s director of development and project management.
“We are also working intensively on the preparation of the reconstruction of the former Municipal Telephone Exchange in Fibichova Street with approximately 120 flats or the reconstruction of three apartment buildings in Seifertova Street, which will be intended for rental housing,” Smrčka added.
PSN has been known as the Prague Real Estate Administration since 1991. The company has been using the new name since 2019. Today, in addition to the reconstruction of apartment buildings and apartment and office rentals, PSN is engaged in the construction of residential and multifunctional projects. Coma Prague has its projects in Pardubice, Hradec Králové and Brno.
Source: PSN and CTK
