The Czech competition authority, known as ÚOHS, has granted approval for a merger involving Crestyl Residential Development s.r.o. (CRD), which will now exclusively control CCI Czech Development Limited (CCI) and Crestyl Residential Ltd (CR) along with their subsidiaries.

This merger occurs within the residential property construction and development sector. CRD is part of a business group active in the development and sale of residential properties, as well as the development, sale, and rental of non-residential properties in the Czech Republic.

CCI and CRL oversee specific residential development projects that are sold to individual owners upon completion. Together, CCI and CRL indirectly own several companies established for the purpose of constructing and developing residential properties in Prague and its surrounding areas.

The authority concluded that the merger would not significantly disrupt competition in the market, leading to a final decision to approve the merger.