Work got underway on a residential project called Modrý platan (Blue Sycamore) in Vysoký Újezd, southwest of Prague next to the Albatross golf course, which is owned by Czech billionaire Jiří Šimáně. The company behind the project, Getberg, plans to invest CZK 250m into the scheme’s energy-efficient family houses. The developer will combine funding from its Russian investors with a bank loan to finance the project. In the first phase, 12 duplexes will be built on a 13,000 sqm site, with costs foreseen at CZK 140m. The CZK 120m second phase on a 5,000 sqm site should commence next year, according to the server e15.
