PPF will increase real estate activities in Prague and Moscow

PPF will be increasing its activities on the real estate market, according to an article in Hospodarske noviny. In Prague, this will take the form of greater activity on the residential market with plans to build a new district with 16,000 apartments. The project is located in Letnany, near the end of the C line metro, on land that's currently used as a sport airport. Along with new flats, PPF would build space for additional shops, services and offices. The company has commissioned the Qarta architektura studio to prepare a zoning study for the project. PPF Real Estate will also be developing offices and a 4-star hotel and HN writes that it's looking for opportunities in the United States. According to PPF's annual report, the company's turnover from real estate activities came to €285 million last year, a figure it won't achieve anytime soon thanks to the pandemic.