Seznam Zprávy writes that the Oaks Prague development has been sold by the Russian billionaires Alexandr Abramov and Alexandr Frolov to Eurocapital SE, a company owned by the lawyer Bohumil Koutnik. The news site notes that Abramov and Frolov were never visibly involved in the project company Arendon, but insists its reporters tracked the owners through a web of companies based in Cyprus, the British Virgin Islands and Great Britain. Oaks Prague involves the development of an up-market village just to the southeast of Prague near Velké Popovice. Sanctions against Russian oligarchs following the military invasion of Ukraine sparked fears by locals that the owners would be unable or unwilling to complete the project as promised. The deal with Eurocapital took place at the end of May, according to Seznam Zprávy. Once completed, the project is supposed have 480 flats, row homes and villas along with an 18-hole golf course. The project’s social media pages wrote that “With the completion of this deal, the entire project is now entirely in Czech hands where the original concept will be realized and developed by the new owner.”
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