Developers UBM Bohemia Development and Crestyl will jointly prepare a new housing project in Prague 5-Smíchov. The new Grafická residence will offer more than 160 apartments of various sizes, as well as premises for shops and services on the ground floor. Work on the project is scheduled to start in spring 2018. The investment is estimated at CZK 1.2bn. Completion is foreseen for late 2019/early 2020. Each of the companies holds 50% stake in the project.