Palmer Capital plans to invest €200m to 250m into real estate in the Czech Republic over the next three years. Company head Guy Barker said Palmer is looking for projects in regional cities, including Brno, and plans to invest €50m in Prague. While it will focus primarily on retail, the company is also planning a large residential development in Úvaly, a small town to the east of Prague. The project is expected to offer 5,000 flats and family houses as well as a supermarket, shops and services. Barker claims that three banks have already offered financing. Úvaly Deputy Mayor Vítězslav Pokorný says, however, that the development is too large for the city of 8,000. He said that the municipality is open to the first phase of the project, which would add roughly 1,500 new inhabitants.
