J&T Real Estate (JTRE) is set to begin construction on the first phase of the residential project Nový Rohan at the intersection of this year and next year on the land in the northern part of Rohanský ostrov. Three buildings with 258 apartments will be built, with the company investing approximately 3.5 billion Czech crowns, including the purchase of the land. JTRE plans to build over 1000 apartments with shops and services on Rohanský ostrov for 15 billion Czech crowns.
Dušan Palcr, the chairman of the board of directors of JTRE, stated that the construction in Karlín is the company’s largest residential project. The company has reached an agreement with the Rohan Consortium, in which Sekyra Group holds a 50% stake and which has an option to purchase land from the city. The three buildings that the company will start building next year will be located near Libeňský most between Štorchova and Voctářova streets.
„We have both territorial and building permits for the first phase,“ said Jiří Ochetz, a member of the company’s board of directors. JTRE has already started selling apartments in the first buildings, which will range from 1+kk to 4+kk. According to Palcr, large apartments will make up about 60% of the first phase. „We have about 30% contracted, and I believe that this project will be very successful,“ said the CEO. The price of apartments ranges from 165,000 to 200,000 Czech crowns per square meter, averaging 180,000 Czech crowns per square meter.
JTRE plans to build on Rohanský ostrov in five phases, collaborating with five architectural studios. „We estimate that one phase will take about 2.5 years to build,“ Ochetz added.
The first three buildings will be named Vincent, Prokop, and Barbora after the bells that were requisitioned by the Nazis for weapon production during World War II and were collected on Rohanský ostrov. The new neighborhood will be directly adjacent to Maniny Park, which the capital city plans to build on Rohanský ostrov. It will also house a nearly ten-ton bell labeled #9801, which will also commemorate the bells seized by the Nazis.
The Prague 8 City Hall plans to build a primary school in the area, with the assistance of Sekyra Group, which is building a residential and administrative district on Rohanský ostrov for approximately 20 billion Czech crowns, where 11,000 people will live or work after completion.
J&T Real Estate is a development company affiliated with the banking holding company J&T Finance Group SE. Its majority owner is Palcr.