PPF Group acquires major real estate projects from Kaprain

PPF Real Estate, the real estate arm of the PPF Group, is acquiring several major property projects and companies from Karel Pražák’s Kaprain Group. The transaction is currently under review by the Czech Office for the Protection of Competition (ÚOHS).

The deal includes several entities holding significant assets in Prague, such as Harfa BC C, Harfa District, Českomoravská Invest, C & R Office Center One, and Mototech Real. These holdings encompass office buildings, warehouse areas, and land near the O2 arena, including the former Howden ČKD factory site. Additionally, the acquisition includes the Oaks Prague residential project and golf course in Nebřenice.

This transaction follows a period of heightened tension between PPF owner Renata Kellnerová and billionaire Karel Pražák. The conflict previously impacted business relations, including the cessation of financing for Pražák by PPF Bank. While PPF describes the move as a “standard transaction,” it marks a significant shift in the ownership of key development sites in the Prague region.