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Grace by the Normandy Shore
Luisa Spagnoli's Fall/Winter 2024 collection brings to life the magic of Deauville, where French aristocratic flair meets coastal elegance.
“Constantly seeking the ‘wow’ effect,” responds Omar Koleilat, co-founder and global CEO of Crestyl, when asked what drives him forward. This credo is the driving force behind the entire company — every project is truly ‘wow’, whether it’s revitalizing neglected industrial areas, constructing premium residences, or shaping new urban districts.
Crestyl’s story is full of bold decisions. A key moment came in 2005 when the company acquired its first large development project — the area of today’s Dock in Prague’s Libeň, spanning 147,000 square meters. This ambitious plan foreshadowed the company’s future direction. Since then, Crestyl has become renowned for creating entire new neighborhoods that harmoniously blend living, working, and leisure.
Another milestone occurred in 2007 with the acquisition of an Italian residential developer. “This deal opened up entirely new possibilities for us,” recalls Omar Koleilat. “We could start bringing to life projects we had only dreamed of before.” However, even then, Crestyl wasn’t content with operating solely in the capital city. In 2017, they expanded to Brno, where they plan to transform the city center. Six years later, they completed the acquisition of Polish developer Spravia, confirming their plans to become a significant player not only in the Czech Republic but across the entire Central European region.
Hagibor in Prague 10 stands out as one of Crestyl’s flagship projects. On an area of 180,000 square meters, a vibrant urban district is emerging with a thoughtful mix of residential, office, and commercial spaces. “In Hagibor, we’re building a place that inspires an active and healthy lifestyle,” explains Omar Koleilat. The project includes extensive urban greenery designed by world-renowned French landscape architect Michel Desvigne.
The Savarin project in Prague’s historical center is no less ambitious. In collaboration with acclaimed British architect Thomas Heatherwick, Crestyl is creating a unique space that connects a historical palace with modern architecture. “Prague deserves world-class architecture,” asserts the developer. “And that’s exactly what we’re bringing with the Savarin project.”
The secret to Crestyl’s success? Koleilat points to the company’s unique approach to development and the courage to go against the grain. “We take on projects that others consider too risky,” he explains. “Our strength lies in our team. We collaborate with the best architects, designers, and experts from various fields.”
Crestyl is well-positioned for further growth. The developer has a number of other projects in preparation that, according to Omar Koleilat, will continue to change the face of Czech cities. “Our goal is to create spaces that inspire,” he notes. “Places that draw from their rich history while meeting the needs of current and future generations.”
