Central Group, a residential developer in the Czech Republic, has expanded its land portfolio with acquisitions valued at CZK 6 billion. Over the past year, the company secured approximately 240,000 square metres of land across seven locations in Prague. The acquisitions will support the development of around 3,500 new apartments. In total, Central Group now holds land suitable for the construction of nearly 40,000 apartments intended to accommodate approximately 80,000 residents. The most significant transaction involved the purchase of a five-hectare site near the Invalidovna metro station in Prague 8’s Karlín district, adjacent to the Olympic Hotel. This acquisition, described as one of the largest residential market transactions to date, will see the development of a new neighbourhood offering over a thousand apartments along with commercial spaces for services, shops, restaurants, and cafés. The planned development also includes contributions to the city and district exceeding CZK 325 million, covering, among other things, the construction and transfer of medical practices and office space to the Prague 8 district. Central Group has initiated an urban planning workshop for the site, working in cooperation with the Prague City Council, the Prague 8 municipal district, and the Czech Chamber of Architects. The workshop will establish the development’s framework before moving on to an architectural phase. At least 20 architectural firms, both domestic and international, are expected to participate. This structured approach to urban planning mirrors Central Group’s previous developments such as Park Quarter in Prague 3 and European Quarter in Prague 6, where workshops involving multiple architectural studios shaped the final design outcomes. In addition to the Karlín project, the company acquired two plots in Prague 9, where it is already developing the Tesla Hloubětín project. Further acquisitions include two plots in Prague 5 for about 500 apartments and additional sites in Prague 4 and Prague 10, targeting approximately 1,000 new units combined. Central Group’s land bank now exceeds 1.5 million square metres across Prague. Central Group has indicated that these acquisitions were financed internally without bank loans. The company, which has been active for 30 years, reinvests its earnings into development projects. In project design, Central Group operates an in-house team of 120 architects and designers. It regularly holds architectural competitions and workshops, enabling collaboration with leading Czech and international firms. Past initiatives include a major international competition for the Centrum Nového Žižkova project, which attracted 98 studios from 30 countries. The winning design came from architect Eva Jiřičná’s AI DESIGN studio, supported by the London-based firm ARUP. Another example is the Kavčí Hory Residence in Prague 4, developed in cooperation with the Institute of Planning and Development (IPR) and the Czech Chamber of Architects (ČKA), where architect Josef Pleskot’s AP studio was selected.