J&T Real Estate, one of the leading developers in the Czech Republic, is making a significant move into the residential sector with a new project in Karlín, Prague. The company, known for its successful office developments in the area, has set its sights on Rohanský ostrov, one of the most sought-after locations in the city. With plans to invest around fifteen billion Czech crowns, J&T Real Estate is poised to transform this prime piece of land into a vibrant new neighborhood.
According to Dušan Palcr, the CEO of J&T Real Estate, Karlín feels like home to the company. Having established a strong presence in the area with office buildings, the decision to venture into residential projects was a natural progression. The chosen site on Rohanský ostrov offers a unique opportunity to create a modern and dynamic community that blends seamlessly with the surrounding urban landscape.
The development will cover four hectares of land, starting near Libeňský most and extending towards the city center. The proximity to the water, coupled with the future Maniny Park, makes this location particularly attractive to potential buyers. In fact, the company has already sold thirty percent of the units in the first phase of the project, showcasing the high demand for residential properties in Karlín.
The residential complex will consist of approximately a thousand units, ranging from cozy studios to spacious four-bedroom apartments. Larger units are in high demand, with some buyers expressing interest in combining multiple units to create custom living spaces. The first phase of the project will feature three towers named Vincent, Prokop, and Barbora, each designed by renowned architectural firms.
Construction is set to begin at the beginning of next year, with the first phase expected to be completed by 2027. Prices for the units will range from 165,000 to 200,000 Czech crowns per square meter, reflecting the premium quality and amenities offered in the development. J&T Real Estate is committed to providing sustainable and innovative features, such as electric vehicle charging stations, outdoor blinds, and triple-layer wooden flooring.
In addition to residential units, the neighborhood will also include retail and service establishments to cater to the needs of residents. A school for 900 students, funded jointly by the Prague 8 municipality and developers, will be built in the area. The overall development plan aims to create a diverse and vibrant community that enhances the quality of life for its residents.
J&T Real Estate is dedicated to creating a green and inclusive environment, with plans to plant a significant number of trees and open up previously inaccessible spaces to the public. The design concept focuses on creating inviting public areas, courtyards, and pedestrian-friendly pathways that encourage social interaction and community engagement.
With a projected timeline of ten to twelve years for the entire development, J&T Real Estate is set to leave a lasting impact on the Karlín neighborhood. By collaborating with top architectural firms and incorporating sustainable design principles, the company aims to create a modern and livable community that sets a new standard for urban development in Prague.