In 2016, Central Group sold 1,243 flats for more than CZK 5.2bn. The number increased by almost 25% compared to the year-earlier period and the revenues were higher by 48%. The reasons include higher market prices and the sale of more luxury and costly projects close to the centre of Prague. Total revenues from the sale of flats, family houses and land went up to CZK 5.5bn. Board chairman Dušan Kunovský said the company had also purchased land at Nákladové Nádraží Žižkov in Prague where it planned to build Parková Ètvr� (Park Neighbourhood) with 2,600 flats. Capital expenditure totals about CZK 9bn and the construction could start in 2019.
Source: www.cianews.cz
