Tuesday, 17 March 2026
EP Real Estate, part of the group controlled by Daniel Křetínský, has acquired Karlín Group’s stake in the Nové Holešovice development project in Prague, further consolidating ownership in one of the city’s emerging redevelopment areas. The transaction value has not been disclosed.
The acquisition follows Karlín Group’s decision to exit its participation in the joint venture originally established with the Prague Public Transit Company (DPP). EP Real Estate exercised its pre-emptive right to take over the stake. The company already owns additional land parcels in the surrounding area, strengthening its position within the broader development zone.
According to Karlín Group, the change in ownership structure is intended to simplify coordination and support the long-term development of the site.
The Nové Holešovice project is located near the Nádraží Holešovice transport hub, including metro and rail connections, and is planned as a mixed-use scheme combining residential, office and commercial functions. The development is separate from the larger Bubny-Zátory transformation area, one of Prague’s most significant urban regeneration projects, where plans envisage up to 11,000 apartments for approximately 25,000 residents.
The joint venture structure dates back to 2021, when it was established by DPP and Karlín Group. CPI Property Group later became involved through its ownership of adjacent land. Under the original arrangement, DPP was to contribute land and participate in the development’s future returns.
Progress on the project was delayed in early 2024 amid political disagreements within Prague’s city leadership regarding the sale of public land. Deputy Mayor Zdeněk Hřib, who had previously supported the transaction at the supervisory board level, later raised concerns during city council discussions, contributing to a prolonged decision-making process.
The situation was resolved in May 2024, when Prague city councillors approved the sale of land around the Holešovice metro station, allowing the project to move forward.
The entry of EP Real Estate as a larger consolidated stakeholder is expected to streamline future planning and development phases, although detailed timelines for construction have not been publicly confirmed.
Source: CTK
