UBM Development begins construction on Arcus City

Robert McLean

#cee, #proptech, #development a #architecture

UBM Development has begun construction of Arcus City in Prague 5, where the company received such demand for the flats in Phase I that it’s already launched sales of the 50-unit second phase. The project is located on the border of Stodůlky and Řeporyje. The general contractor for Arcus City is Algon, while Casua has provided the design and Lexxus Norton was asked exclusively to handle sales. UBM is betting on the the location’s proximity to both the center of Prague as well as to its airport to attract buyers, though in truth developers aren’t having trouble selling much of anything at the moment. UBM Development’s director Josef Wiedermann says 70% of the units in Phase I have already been sold, with negotiations ongoing for another 15%. “The flats will be available by the end of the year 2023,” he said. “Further phases of the project will also include family homes and retail space. We want to complete the entire complex in 2024.”


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