Orco Property Group acquired two development projects in the Czech Republic: one in Prague and the other in Brno. The former is located in Prague 10, next to a 31,000 sqm site Orco bought a few years ago. The €5.7m deal adds an additional 33,000 sqm to the location where Orco planned to develop a residential scheme before the financial crisis hit. In Brno, Orco bought 22.5 ha of land in the city’s Židenice district. The transaction is structured as a share deal worth €13.95m. Orco says it plans to redevelop the brownfield into a new neighborhood similar in size to Prague’s Bubny district.
