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WOOD Real Estate’s portfolio is expanding with a new residential project. Šárka will be developed in cooperation with Crestyl, adjacent to the Šárka Nature Park in Prague's Vokovice district. The new publicly accessible residential neighborhood will feature 18 villa-style apartment buildings with a total of 224 units, four family houses located along the forest edge, a kindergarten, and retail and service spaces. The architectural and urban design of both the buildings and public areas emphasizes a strong connection to the surrounding natural environment. The project has already obtained a valid building permit, and the demolition of the former industrial and logistics complex has now been completed. Construction of the first phase, comprising 98 apartments, is scheduled to begin at the turn of the year, with completion expected in 2029. The total investment will exceed CZK 4 billion.
The Šárka project will comprise 18 villa-style apartment buildings with a total of 224 apartments and four family houses located directly next to the forest. Apartments in the first phase will range from one-bedroom to four-bedroom layouts (2+kk to 5+kk), with floor areas from 62 sqm to 165 sqm, including luxury penthouses. As is customary for Crestyl developments, the homes will feature high-quality materials and a strong emphasis on functional design. Each apartment will be equipped with air conditioning and external blinds. Residents will also benefit from a shared reception located in the services building at the entrance to the development. All parking will be underground, creating an open, tranquil environment between the buildings. Public sales are scheduled to launch in autumn this year.
The new architectural concept was designed by Chmelař Architekti, led by David Chmelař. The design is based on the principle that a building should not feel like a foreign element in the landscape. The buildings feature organically shaped volumes with irregular setbacks inspired by the rock formations of Divoká Šárka. The material palette draws directly from the surrounding environment, with stone and wood playing a central role in the project's identity rather than serving as mere decorative elements. Terraces, balconies, and private gardens are conceived as natural extensions of the living space, while privacy is ensured through architectural solutions, including natural screening and thoughtfully arranged building distances.
"The Šárka project perfectly aligns with the long-term strategy of our residential portfolio. We see our participation in a project that transforms a neglected site into a thoughtfully integrated residential development as an opportunity to contribute to turning an exceptional location into a high-quality place to live," says Martina Jůzová, Portfolio Manager at WOOD Real Estate, adding: "Together with our development partner, we place great emphasis on a responsible approach to urban development and on supporting local amenities, which will naturally also serve the residents of the surrounding neighbourhood."
The Šárka project was carefully discussed with Prague 6 and local community groups to ensure it brings genuine value to the area. The redevelopment of the former factory site will include a new kindergarten for 50 children, which Crestyl will transfer to the municipality free of charge upon completion, expanding the existing network of preschools in Prague 6. A separate building next to the kindergarten and public transport stop will be designated for public services, with plans to accommodate facilities such as a convenience store, medical practices, or a café. A new forest-themed playground with fitness elements will also be created along the edge of the site near the woods. All of these facilities will be available not only to the project's residents but also to the wider local community. Crestyl will additionally contribute to the implementation of smart mobility solutions throughout the Vokovice district.
"Šárka represents a unique opportunity to live in an exclusive part of Prague 6, on the edge of a protected natural area, in a development where peace, nature, and privacy are tangible qualities of the location rather than marketing promises," says Tereza Matějíková, Sales and Marketing Director for Residential Real Estate at Crestyl. "Šárka will offer premium homes set in nature while remaining just fifteen minutes from Prague city centre. The project is intended for discerning clients who appreciate uncompromising quality."
The Šárka project is another investment within the Residential Sub-Fund, whose strategy focuses on high-quality residential development projects in partnership with leading developers. The sub-fund is intended for qualified investors and targets an average annual net return of 12-15%. As of 30 June this year, its net asset value exceeded EUR 81 million, and over the previous twelve months it delivered a return of more than 17% to investors. More information about the sub-fund is available here.
Media relations:
Marketing Manager
Vendula Dittrichová
Tel.: +420 605 720 712
E-mail: vendula.dittrichova@wood.cz
