Salutem Group and Growth Finance join forces to renovate two towers in Ústí nad Labem into 300 affordable modern apartments, addressing the local housing crisis while providing lucrative investment opportunities.

Target Information

Ústí Towers is a transformative project spearheaded by Salutem Group and Growth Finance, aimed at revitalizing two neglected towers in the Trmice area of Ústí nad Labem. The initiative will convert these structures into approximately 300 modern residential units, addressing the critical shortage of affordable housing in the Czech Republic.

Over the past year, new construction in the Ústí Region has sharply declined, with a reported one-third decrease in new housing starts. Despite the presence of nearly 860,000 unoccupied units in the Czech Republic, 200,000 of which are long-term vacancies, the ongoing housing crisis necessitates such revitalization initiatives.

Industry Overview in the Czech Republic

The housing market in the Czech Republic has been characterized by high demand and insufficient supply in both urban and rura