1. Please tell us more about your story. You have Czech citizenship, but you are from Armenia, where you built a successful business. You also serve as an honorary Austrian consul in Armenia. What led you to residential property development in the Czech Republic?

 
It’s true that I’ve devoted most of my career to doing business in the aviation industry, the travel sector and the hotel industry. Everything naturally started in Armenia, where I took on a lot of responsibility in the field at a very young age and I had to demonstrate my abilities rather early. That was the best school, thanks to which I learned purposefulness and humility, which I put to good use in my further business endeavours, as well as in life as such. I travelled to the Czech Republic a lot for business and built up a network of partner contacts here. During those travels, and thanks to my cooperation with Czech partners, I fell in love with Prague and decided to move here with my whole family. Both of my children grew up and studied in Prague, earning their bachelor degrees here. My son and daughter are continuing their studies and working in Switzerland. And as for my status as an honorary consul, I value the fact that I’ve held that position since 2011.
 

1. And why did you establish a property development company instead of airlines?

 
From the moment I came to Prague, I was very inspired by the city’s architecture and later by my friends, who were already focusing on development here. Residential development is something that fulfils my vision. I like the idea that we are creating a beautiful, sustainable and functional project that provides people with a home in which they can write their own life story. My first development project, however, was the construction of the Best Western Bohemian Resort hotel in Sevan, Armenia, which is still in operation. It was inspired by Czech architecture and even specialises in Czech cuisine, including Chodovar beer. We invited Felix Slováček, among others, to the grand opening because we wanted to give our guests a sense of Czech culture, which is the foundation of this successful hotel that is still owned by my family.
 

1. Your company, Atlantis Development, has been in operation in the Czech Republic since 2015. How many projects have you implemented in the past nine years.

 
Our first projects were Žižkovské pavlače and Vila Troja – we decided to sell both of them before starting implementation. Since 2016, we have focused entirely on two projects on the edge of Prague, namely Ctěnický háj, which is fully approved and the last few homes remain for sale in it, and Via Sancta Vinoř, which will offer 450 apartment units in two phases.
 

1. Is it possible to choose one that you would highlight in particular and, if so, why?

 
We progress with every project and each one pushes us further. Both of the projects that we are currently working on embody our company’s values and vision. Ctěnický háj is an intimate residential project set in a beautiful landscape within easy reach of the Ctěnický háj forest; Via Sancta will offer excellent civic amenities and a premium environment in the immediate vicinity of a new golf resort. In addition to exceptional architecture and high-quality materials and craftsmanship, the environmental aspect is a priority for us. We do not want to make compromises in that respect.
 

1. We will get to the topic of sustainability. But first, I would like to know your criteria when choosing locations for new residential projects.

 
There is no single universal rule. Every location must be interesting in some way; I would even say exceptional. We take into account the location’s surrounding area, particularly an abundance of green space and natural elements. For example, at Via Sancta, we managed to acquire a very large number of land plots on which we can build a large number of apartments, in spite of which there will still be enough space for extensive infrastructure, including two parks, a natural amphitheatre, several children’s playgrounds and sports grounds. We’re also currently expanding our operations beyond the country’s borders. We recently opened design offices in Zurich and Vienna, where we are seeking opportunities and preparing the conditions for residential construction.
 

1. Architect Břetislav Lukeš has collaborated with you on three projects – in addition to the two current projects on the outskirts of Prague, he also designed Žižkovské pavlače. Could it be said that he is your court architect?

 
Břetislav Lukeš has imparted to each of our projects a unique architectural statement that perfectly captures their specific features and concepts. What I appreciate immensely in his work is his broader consideration for the whole ecosystem in which we build our projects, with everything that involves. He lives in the immediate vicinity of our two current projects, so he has a great deal of responsibility for the character of the original environment and its development, and he makes maximum use of his knowledge and the principles of sustainable development in his designs – this is where our philosophies line up and I am very glad that he is on our team.    
 
 

1. The dream of a lot of developers is to get commissions in the city centre, where they would have greater visibility. But everything indicates that you are rather moving away from the city.  

 
There’s no strategy involved in that and we definitely don’t refuse projects set in Prague. Building in Prague 1 is always a challenge, but if an opportunity to work on a project even presented itself, we would gladly do it.
 

1. In your opinion, what criteria should a residential project fulfil in order to be designated as sustainable?

 
From our perspective, this involves a whole set of criteria, as ESG is an area on which we focus very intensively, especially when it comes to the environmental aspect of our projects. In this respect, we defined a comprehensive strategy for the Via Sancta Vinoř project. First of all, I would mention the reduction of greenhouse-gas emissions, the shift toward carbon neutrality and energy self-sufficiency. It’s also necessary to take into account the reduction of drinking-water consumption and effective rainwater management. Then the effective use of the fertile layers of the land, as well as other soil on the given land plot, by raising the elevation of the original terrain, complemented with suitable measures such as the construction of rainwater collection tanks, landscaping and other nature-friendly uses. For a comfortable and safe environment for residents, it is necessary to focus on optimising visual and acoustic comfort, ensure year-round thermal stability in the interiors, as well as the quality of interior air and elimination of risks associated with the occurrence of radon and hazardous substances in building materials. I would also say that support for environmentally friendly transport, especially by creating charging infrastructure for electric vehicles, is almost a matter of course. Of no less importance, there is also the effort to minimise the production of construction and demolition waste and to use recyclable materials.
 

1. Do you believe that green washing is an issue in residential development?

 
I would say yes, just as it is in any other sector. On the other hand, I think it is rather easy to detect green washing. A credible developer should be able to substantiate any proclamations with specific goals and, mainly, measurable indicators that can be evaluated in order to determine whether the desired result has been achieved or not. In our environmental strategy, we are committed to specific measurable goals that are fully in accordance with the EU Taxonomy. We work with its methodology, though we are not among the entities that have an information obligation in terms of reporting.
 

1. And what is your experience with Czech clients in this respect? Are they interested in the actual energy performance of a property?

 
They definitely are. In each case, they require the submission of building energy-intensity certificates, in which the individual indicators are defined. This is absolutely understandable – even those who are not necessarily inclined towards sustainability because of their beliefs have been compelled by external circumstances to take an interest in the energy requirements of housing.
 

1. Are you referring to high energy prices?

 
Yes, but this involves more than just prices. When the first passive-home projects started to arise at the beginning of the millennium, energy saving was not a fundamental issue. There were sufficient energy sources and they weren’t expensive. Today, the situation has changed. We have to replace some sources with others, such as gas, and clients want to know more details about, for example, what their primary source of energy will be. And other issues are arising in relation to the security of supply and the possibility of clients generating their own energy. Energy self-sufficiency, or rather independence from central energy suppliers, is a new topic that those interested in our properties are looking into more and more intensively. There is still a long way to go to fully achieve that, but the important thing is to increase the degree of energy independence.
 

1. Can it be said that your projects are moving in that direction? Construction of Via Sancta Vinoř will begin next year. What more will it offer in comparison with Ctěnický háj?

 
As I mentioned earlier, these are two different projects in terms of size. Of course, sustainability is becoming increasingly important with each passing year, the available technologies are undergoing dynamic development, as is the market and its needs. In Ctěnický háj, we have built one apartment building and 35 passive family houses, in which we have installed equipment that enables sufficient ventilation, which helps to reduce the concentration of carbon dioxide in the air. We also focused on rainwater collection and retention in the landscape. The Via Sancta project will decidedly go even further. All of the buildings will be rated as Class A in terms of their energy intensity. As I mentioned increasing energy self-sufficiency, we are planning to install solar panels on the roofs of the apartment buildings, supplemented with battery storage. In addition to rainwater collection, we will install efficient water faucets and use groundwater from wells for irrigating public green spaces. In the area that we refer to as enhancing the ecological value of the location, we will use the excavated soil on the original land plot for the purpose of protecting the environment, nature and landscape and install greenery on the exteriors of the buildings. In short, we will strive to the maximum possible extent to fulfil the principles that we defined in our comprehensive environmental strategy. This will be the first time that the strategy has been applied to an entire residential project.
 

1. Which technologies that support environmentally friendly housing are “must-haves” today and, conversely, which ones would you relegate to the realm of dreams?

 
In my view, heat pumps, recuperation units and rainwater handling systems are almost mandatory equipment. I expect photovoltaic power plants, including battery storage, to join them in the near future. Due to the interconnectedness of the individual technology units, it is necessary that projects include systems for the complete management of power generation and for controlling the flow of generated and purchased electricity. When we think within the team about what we would like to have but which is rather a vision of the future, it is technologies for long-term storage of electricity generated by photovoltaic power plants. Something else I have in mind is technologies for producing and storing green hydrogen and converting it into electricity when the PV plants are generating little or no electricity. At present, however, we are encountering financial barriers in the form of high acquisition costs.
 

1. Can you say why we are still behind the Nordic and western countries in this respect?

 
I don’t think that’s the case. In general, the technological level of many projects here is comparable to the level abroad. At least when I compare the situation in the countries, or rather cities, where we currently operate. Thanks to my business activities in Austria and Switzerland, I have a valuable opportunity to see things from a different perspective and if I come across a new, innovative idea or concept, I naturally try to bring it into our projects here in the Czech Republic.
 

1. How difficult is it to put your ideas about sustainable elements or architects’ original ideas into practice?

 
Of course, economic returns play a major role. A few years ago, neither heat pumps nor recuperation units were standard equipment. The same applies for projects with photovoltaic power plants, which we are now seeing far more of than before. The situation is changing; gas is being used to a far lesser extent as a primary source of energy supply. I am convinced that, like other developers, we will have to go further. We have resolved the issue of short-term storage of generated electricity, but we will have to consider the possibilities of its long-term storage in order to ensure that it can be used in winter. I would thus say that the economic aspect plays an essential role, but it is necessary to look beyond that. It is also appropriate to think about security in the sense of uninterrupted supply of electricity to our buildings. Naturally, we will also have to pay for that security, since no one is going to give it to us free of charge.
 

1. If someone asked you what should first come to people’s minds when Atlantis Development is mentioned, what would that be?

 
In its vision, Atlantis Development goes beyond the boundaries of ordinary construction – we want to create a future in which development is understood in a broader context. Our projects combine art, sustainability and the spirit of community. Our mission is to work with the landscape in order to create a unique place for living, as well as a lively and sustainably functioning community. That community then reflects our view of artistic expression, environmental protection and improvement of the quality of life for the residents of our properties.