Orco Property Group has announced that all housing units in the second phase of its residential project Plachta in the Czech city of Hradec Kralove have been sold. The second phase consists of eight buildings with a total of 279 apartments. There is commercial space for shops, a restaurant and service premises at the base of the two buildings.

Orco Property Group has announced that all housing units in the second phase of its residential project Plachta in the Czech city of Hradec Kralove have been sold. The second phase consists of eight buildings with a total of 279 apartments. There is commercial space for shops, a restaurant and service premises at the base of the two buildings.

The third and last phase of project is under preparation, Orco said in a statement. 'The fact that all flats were sold out already in July, while the construction itself is to be finished only at the end of year 2007 is evidence that we are going in the right direction. Project Plachta confirms that modern residential projects fulfilling high standards have a big potential in the whole territory of the Czech Republic', said Vladimir Toman, sales manager of Orco Property Group.