UBM acquires full ownership of Rezidence Na Plzence in Prague

UBM Development Czechia has increased its stake in the Rezidence Na Plzence residential project from 50% to 100%, reflecting an improvement in market conditions and signaling the company’s intent for further expansion.

UBM reported strong sales in 2024, with 125 apartments sold in Prague, surpassing the company’s total apartment sales for 2023. Demand for high-quality residential properties in the Czech capital remains steady, prompting the company’s decision to increase its investment in the project. Thomas G. Winkler, CEO of UBM Development AG, stated that the residential market downturn has stabilized, with signs of recovery across all UBM markets.

The Rezidence Na Plzence development is situated in the Smíchov district and will comprise 160 apartments with 12,000 square meters of gross floor space and 122 underground parking spaces. The 3,850-square-meter site benefits from strong transport links, including a nearby metro station and a tram stop adjacent to the development. Construction and pre-sales have already commenced, with project completion expected in Q2 2027.