Developer Finep will sell 800 rental flats to Israeli investor AFI Europe. Finep will build 300 rental flats for AFI in the Nová Elektra project in Prague 9 in Hloubětín and sell another 500 flats to the Israeli company in Prague 10 in Strašnice. Renata Součková, media representative of AFI, said that the company will pay roughly two to three billion crowns for both transactions. The two companies also expect further cooperation on rental housing in other locations.
Nová Elektra in Hloubětín will have 291 flats of various sizes from 1+kk to 4+kk. In addition to the apartments, there should also be 309 parking spaces and commercial space. The project called ‘Residential complex in Koryty’ in Prague 10 has 519 apartments. It includes, for example, electric charging stations and community courtyards. The project has green areas and a promenade.
AFI is the largest tenant in Prague of furnished apartments built primarily for rental purposes. It currently has about 900 such apartments in the city. “As these projects in the capital are already close to full occupancy, we are implementing further plans. In the next three years we are going to triple the number of our rental apartments. In Central Europe, the AFI Home platform is active in the Czech Republic, Poland, Romania and Serbia, where our portfolio should reach a total of more than 6,000 rental units,” said Doron Klein, Deputy CEO of AFI Europe.
Finep also builds apartments for other institutional tenants. In 2023, Finep sold 386 rental apartments to, for example, Česká spořitelna and the residential fund Mint. It also sold 454 apartments to individual owners and cooperatives in Prague and Central Bohemia, in nine development projects. In February this year, for example, it also sold 57 flats in the U Šárky project in Prague 6 to the XPlace platform operated by the Prague Archbishopric. According to an analysis by start-up BuiltMind, Finep sold 112 new apartments in the first quarter.
AFI Europe, Fine and CTK
Photo: Doron Klein, Deputy CEO of AFI Europe
