Last year RPG Real Estate Invested CZK 632 million in the renovation of its buildings and apartments

In 2007 RPG Real Estate group invested CZK 632 million in its residential stock. It is a record increase compared to the previous two years, which is the period that the housing stock has been managed by the group.

Whereas in 2004 the total investment in the residential buildings (repair and improvement) was CZK 410 million, in 2005 it was already CZK 460 million. In 2006 the total investment increased again, this time to CZK 474 million. Last year, CZK 632 million was invested in the residential stock, which represents a 65% increase compared to 2004.
The money was spent on the modernisation and general renovation of buildings, but also on installation of thermal insulation and metering, renovation of sewage and water mains and connections, internal installations, repairs of balconies, roofs and chimneys, replacement of windows and doors, painting and varnishing, hydro insulation of buildings, overhauling of elevators, petty maintenance and – if the condition did not warrant salvage – on demolition works.
“We intend to continue this trend also in the years to come; we project that in 2008 the total invested amount will be greater than in the to-date record year 2007,” said Tony Aksich, the new Chief Executive Officer of RPG Real Estate. Petr Skrla, the group’s Managing Director, adds: “We have good experience with a co-ordinated and systemic approach to the housing stock renovation, with municipalities as our partners. We already do that in Havířov, Stonava, Karviná and Ostrava, for example.”
The costlier investment project in 2007 was the window replacement in more than 170 buildings; it came to over CZK 110 million. Other larger investment projects include, for instance, roof repair in more than 150 buildings at the cost of CZK 80 million, new internal installations in more than 200 buildings, which cost CZK 60 million, elevators were overhauled with the bill of CZK 60 million and another CZK 60 million was invested in the repair and insulation of facades; renovation of balconies came to more than CZK 40 million. Another major exercise of the last year was the improvement of the common areas in almost 400 buildings and the cost was over CZK 50 million. Routine maintenance, small repairs and emergencies together came to more than CZK 160 million. 

Informace pro média:

RPG Real Estate group was founded in mid-2006 as a result of the transformation of the mining company OKD, a.s. RPG Real Estate portfolio was endowed with assets and activities that were non-core for the main mining operation. RPG Real Estate group includes RPG Byty, RPG RE Commercial, RPG RE Land, RPG RE Management and RPG Služby, the latter being a joint venture with OKIN GROUP, a. s. Today, the group owns and operates a substantial portfolio which includes residential buildings, commercial space, commercial properties, apartment hotels, hotels and sizeable parcels of land, mostly in the Moravian-Silesian region.

For more information please contact:
RPG Real Estate
Petr Handl
Ředitel vnějších vztahů skupiny RPG Real Estate
Gregorova 3/2582, Ostrava
Tel.: +420 596 262 475, +420 724 941 419
E-mail: phandl@rpgre.eu