Central Group to expand Tesla Hloubětín district, 2500 flats to be built for CZK 15 billion

by   CIJ News iDesk III
2023-12-06   11:18

Czech residential developer Central Group has completed the purchase of several plots of land in Prague 9, and will build on the Tesla Hloubětín project. For CZK 15 billion, a district with more than 2,500 apartments, three kindergartens, parks and commercial space will be built there, representatives of Central Group announced today. The Tesla Hloubětín project began construction last June on the brownfield site of a former radio and television production plant. Previously, 1,500 new flats worth CZK 9 billion were to be built on the site. The first phase is expected to be completed in 2024, with the entire district to be finished around 2030.

The newly purchased land is connected to the currently under construction project on the south side. The company's most recent acquisition, completed last week, was land with Huhtamaki's packaging manufacturing facility. This combined the area between Poděbradská and U Elektry streets, Hořejší rybník and Kejřův park, covering an area of over 13 hectares. The developer will contribute a fee of CZK 343 million to the city district.

The urban and architectural design of the project is the work of the Loxia studio and the Central Group architectural team. The residential area will take the form of terraced receding houses with industrial elements. Inside the district there will be a courtyard with a looser development with a large public park and a pedestrian zone with greenery. The district should also have several ecological features such as green roofs or rainwater retention tanks for watering the greenery.

"This is a very popular, dynamic location right next to the trams and close to the metro station. The attractiveness of the location is also evidenced by the fact that Tesla Hloubětín is currently the best-selling residential project in Prague according to statistics," said Dušan Kunovský, Chairman of the Board of Directors of Central Group.

Prague 9 is an urban district that is developing very dynamically. In the last ten years, according to Central Group data, over 12,000 apartments have been permitted for construction in this district. This is almost a third of all the roughly 39,000 flats that have been permitted in the entire metropolis over the last decade. Most new apartments are also in the pipeline in the Ninth Ward. Currently, over 35,000 apartments are in the pipeline in Prague 9, a quarter of all apartments in the capital.

In addition to Tesla Hloubětín, which currently has 390 apartments, Central Group also owns the Harfa Living project in Prague 9. At the same time, another 290 flats are to be built in the Rezidence Vysočanská Galerie project on OSN Square for approximately CZK 1.9 billion. In Tesla, a square meter in an apartment sells for an average of CZK 130,000, in Harp for CZK 115,000. According to the latest analysis of the development companies Skanska Residential, Trigema and Central Group, the average price per square metre in the third quarter of this year was CZK 146,459.

Source: Central Group and CTK