Malá Šárka

A unique development of 150 high-quality family houses in a very attractive location of Prague 6 – Nebušice, Mala Sarka is located adjacent to the International School of Prague and the natural reserve Tichá Šárka. Project was successfully completed and fully sold to individual and institutional buyers. Most houses were sold to prospective Investors with prime residential leases already in place.

ACRED identified the site, formulated the development, assembled all land, and became one of the founding partners in the Nebušice Development Company (NDC) that was responsible for overall development. Acred's activities further included land assembly and master planning for the International School.

Mala Sarka introduced to Prague's residential market in 1995 the systematic use of escrow accounts as a means to protect buyer progress payments while house construction proceeds. It was the first project that did not use buyer’s money directly to finance its realization. Land and house payment and ownership transfers occurred at the time prospective buyers took over their completed house.

Mala Sarka also introduced Prague's first homeowners association, created to manage community services and maintain and protect property value.