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Central Group to build Park Quarter in Prague for CZK 9bn

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Developer Central Group will transform the brownfield located to the north of the Žižkov Cargo Railway Station in Prague into Parková Čtvrť (Park Quarter) residential project. The zoning plan foresees ca. 2,100-2,600 apartments in the location. Construction is scheduled to start in 2019. The project will cost ca. CZK 9bn. The company acquired the 128,000 m2 in summer 2016, incl. the building project and issued zoning verdict. The project will include a public park and nursery school worth CZK 60m, which Central Group will build at its expense and transfers ownership onto the municipal district authority. Beside the Žižkov Cargo Railway Station, Central Group wants to start working on additional brownfields in the near future.

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