Crestyl has become a regional developer

Originally a Czech developer and investor, Crestyl strengthened their position in the Central European residential real estate market at the end of the year and is working on 70 projects in Central Europe.

In one of the largest real estate transactions in Central and Eastern Europe, they took full control of a major Polish residential developer, Spravia. In the challenging real estate environment, Crestyl has thus expanded their operation in the exceptionally high-performing Polish residential segment. Due to the transaction, Crestyl’s total balance sheet has increased from 850 million to 1.3 billion EUR with the intention of further growth in both the Czech Republic and Poland. Crestyl’s total portfolio now includes 70 projects in Central Europe.

“While the Czech Republic is our home market and we rely heavily on it, Poland is a key part of our future – we want to continue to develop there significantly,” says Omar Koleilat, co-founder and CEO of the Crestyl Group.

Crestyl has been operating in the Czech real estate market for over 20 years and is one of the leading developers with a broad portfolio of residential and commercial projects. In all their projects they focus on quality, design, superior processing, use of first-class materials, and overall comfort for their residents and visitors. Spravia, which Crestyl acquired, is one of the largest developers of residential real estate in Poland. Since 1999, they have already completed 147 projects and their individual stages, building more than 21,500 residential units and premises.

“Crestyl is known for their long-term specialization in mixed-use projects. We want make good use of our experience in this segment and our knowledge of design and architecture in the Polish real estate market and expand Spravia’s scope beyond its traditional residential projects,” adds Simon Johnson, COO of Crestyl Group and its CEO in the Czech Republic. He refers to, for instance, the largest project in the centre of Prague, Savarin, the recently completed DOCK quarter in Prague’s Libeň, or the newly emerging Hagibor quarter near the Želivského underground station in Prague.”

Kamienica przy Kinie – Poznaň

Hagibor

Photo: Crestyl’s Archive