Developer group AFI Europe is reviewing its achievements in the Czech Republic over the past year, marking significant progress in the rental housing and office property sectors, while unveiling plans for 2025. 2024 Highlights Among the key milestones of 2024 was the expansion of the AFI Home rental housing portfolio, now comprising 872 rented apartments with an impressive 95% occupancy rate. In March, AFI Europe launched its fourth rental property, AFI Home Kolbenova 2, which features 327 apartments and reached a 90% occupancy rate by December. The project also introduced additional amenities, including a supermarket, a laundry facility, and a coworking center designed to support remote-working tenants and foster a vibrant business community in the Vysočany district. “A pivotal development for our rental housing portfolio in 2024 was the acquisition of two projects with 810 units from FINEP,” stated Doron Klein, Deputy CEO of AFI Europe Group and Managing Director for the Czech Republic and Romania. “AFI Home Nová Elektra is currently under construction, while work on AFI Home V Korytech is scheduled to begin mid-2025. Additionally, we are preparing the third phase of our AFI Home Kolbenova project with approximately 300 units and expect to secure building permits this year. Our goal for 2025 remains focused on growing our rental housing portfolio through further BTR (build-to-rent) project acquisitions,” Klein added. Commercial Real Estate Achievements AFI Europe also reported near-total occupancy across its six office projects in 2024, maintaining an impressive occupancy rate of nearly 100%. Notably, the AFI City 1 office building in Prague 9’s Vysočany district achieved full occupancy, welcoming new tenants from the automotive, logistics, and pharmaceutical sectors. Future Residential Development AFI Europe is also expanding its footprint in residential sales. As part of its AFI City project in Vysočany, the company is planning a residential building with approximately 300 apartments. “We aim to obtain building permits for this project by the end of 2025,” concluded Klein. With a robust pipeline of projects and a strong performance in both residential and commercial real estate, AFI Europe is poised for continued growth and success in Prague and beyond.