A development company is building a resort worth 1.7 billion CZK at Lipno

Lipno nad Vltavou - The development company Realactiva has started building the Molo Lipno Resort in Lipno nad Vltavou. The investment exceeds 1.7 billion crowns. There will be 79 apartment units, a five-star hotel with more than 100 rooms and a congress hall for 300 people, as well as a promenade with a shopping boulevard. The built-up area will be 24,000 square meters, with completion of the apartments in the first half of 2021, and the entire complex will be finished by 2022. CTK was informed of this today by the spokesperson for Molo Lipno Resort, Martina Jašková. The mayor of Lipno, Zdeněk Zídek (Lipno), told CTK today that the investor is building two-thirds on private land and one-third on municipal land.

The project is financed by the investor fund Dynamika, which is a member of the Investika group. The inspiration for the resort came from mountain apartments in Davos and Aspen. The hotel will also have a wellness area, spa, and relaxation garden. Architects from the Chapman Taylor office have designed a promenade between the hotel and the apartment buildings, where there will be cafés and shops. The boulevard will end with a 150-meter-long wooden pier featuring a restaurant and a heated lake pool at the surface of Lipno.

"The site of the former Olympic park Rio - Lipno will transform into an exclusive resort with five-star service within two years. Emphasis is placed primarily on connecting with nature, which is why the architects used materials typical for Šumava buildings - wood, plaster, stone. The price of the apartments in the resort ranges from 85,000 crowns per square meter, including VAT. The price includes parking spaces and cellars," Jašková stated.

Before construction began, people had reserved over 20 percent of the apartments. Both Czechs and foreigners are interested. Some want a space for relaxation, while others consider purchasing as a suitable investment opportunity.

The investor is building two-thirds on its own land and one-third on municipal land. "The private land has been resold about twice, and we are glad that it is with an investor who is building there," Zídek said. On the municipal land, there will be a promenade with a square and park, which the investor will donate to the municipality, according to Zídek.

Apartments are also being created elsewhere around Lipno Lake. The mayors aim to attract young families with children as permanent residents. The municipality of Lipno nad Vltavou will complete an apartment building with 12 apartments this year, and the towns of Loučovice, Frymburk, or Černá v Pošumaví will also offer plots.

The commercial company Investika was established in 2014. In September 2015, it created the real estate fund Investika, which had a fund capital of 2.57 billion crowns at the end of last year. In September 2018, Investika created another investment fund, Dynamika, which had a value of 39.5 million crowns at the end of 2018. The basic capital of the Investika company is 12 million crowns. This information comes from the annual report.

The sole shareholder of Investika is the company R.E.F.I. Investments based in Cyprus. The company's balance sheet total reached 27.6 million crowns last year, and the company ended with an accounting loss of 2.8 million, primarily due to investments in software and personnel costs, as stated in the annual report. In the second half of 2019, the company aims to turn a profit. It is also considering expanding its activities to other European countries, primarily Slovakia.