At the same time, the company is completing the second part of construction in Košířy in Prague 5. KKCG Real Estate belongs to the KKCG investment group of Czech billionaire Karl Komárek.

The first part of the project

The company started building the first part of the Pomezí project at the foot of the Vidoula table mountain in Prague 5 with about ninety apartments at the end of 2018 and completed it roughly two years later. The second part, now being completed, offers 38 family houses, four apartment buildings with 148 apartments and five detached villas. "In the summer, we should complete it completely and hand over the last house," the company's chief executive, Otto Koval, said on Tuesday. He added that the total cost of the project was about 1.6 billion crowns.

At the beginning of November, the company also started the construction of a project in Šárecký údolí in Prague 6, where it had already implemented a similar project in the past. Six detached villas, four family houses and three terraced houses will be built near the Jenerálka castle. All buildings will be low-energy. "As of today, we have reserved four houses out of thirteen, which is why we were also able to start the construction of the project," said Koval.

A much bigger project

The company is planning a much larger project in Modřany, where 550 apartments should be built by 2029. The first stage, with which the company wants to start pre-sales at the beginning of next year, should offer 177 smaller apartments in the converted factory hall, priced from 3.6 million crowns. On the project, KKCG cooperates with Alma Development, which focuses on the middle segment of the market.

KKCG Real Estate has been focusing on commercial and residential development and facility management since 2012. KKCG Group is an international investment company active in Lotteries & Gaming, Energy, Technology and Real Estate. The group manages assets worth over ten billion dollars (over 213 billion crowns). According to Forbes magazine, the founder of KKCG Komárek ranks among the richest in the Czech Republic, his assets are estimated at 8.1 billion dollars (174.7 billion crowns).