Zeitgeist Asset Management to oversee REICO’s first rental housing project in Prague
Zeitgeist Asset Management has been appointed to manage Residence Opatov, a new residential development in Prague 4 owned by the REICO ČS Nemovitostní fund. This marks REICO Investiční společnost Erste Asset Management’s first entry into the rental housing sector, having previously focused exclusively on commercial properties.
Zeitgeist will be responsible for managing the project through its construction phase and later for leasing and ongoing property management. The development, located adjacent to the Opatov metro station, will offer 171 rental apartments across twelve floors, ranging from studios to four-room units. The building will also include underground parking and storage spaces. Completion is expected in the first quarter of 2027, with a portion of the apartments planned to be fully furnished.
The project is situated within the Nový Opatov district, currently being developed by FINEP. The wider urban plan includes public amenities such as a park with water features, a promenade, bike paths, and a public square with retail and service outlets.
According to Zeitgeist CEO and co-founder Peter Noack, the company aims to apply its experience in managing both owned and third-party rental properties to ensure a smooth delivery and long-term operational success. Michal Nečas, Managing Director at Zeitgeist, highlighted the development’s accessibility and design as key strengths that are likely to attract a broad tenant base, including professionals and families.
