Penta, Kaprain and Sekyra Group bought land on Victory Square for more than a billion
The consortium of developers wants to build mainly offices and shops on the land, use part of it for flats as well. According to a press release, the ICT wants to use the funds obtained from the sale of part of its land for the construction of a new university building with teaching facilities and dignified facilities for students and academies.
The developers plan to announce the international competition within one year, and the projects are expected to be completed by 2028. The zoning plan of Prague and the winning design of the architectural competition for the urban and transport solution of Vítězné náměstí, which was organized in 2018 by the Institute of Planning and Development of the City of m of Prague, respects Engel’s intention.
According to a press release, the ICT wants to use the funds obtained from the sale of part of its land for the construction of a new university building with teaching facilities and dignified facilities for students and academies. A school that has long struggled with a lack of space will be able to supplement the missing laboratory, which is essential for international scientific cooperation.
“Part of the long-term vision and mission of the ICT is to support talented students and train top experts who help our society solve today’s major problems, such as drought, new energy sources or food and drug safety. The new university building is a prerequisite for this role. to continue in the future, “added the Rector of the ICT Prague Pavel Matějka.
Penta is already building Victoria Palace
The Penta investment group obtained a valid building permit at the end of August and began building a luxury housing project on the site called Victoria Palace.
Although Penta plans to complete the construction of Victoria Palace by the end of 2023, individual apartments have already begun to be offered for sale. Less than a hundred of them will be built in the nine-storey building. The future owner will pay higher millions of crowns for the four penthouses on the last two floors. Their size will range from 130 to 202 square meters and will include roughly equally large terraces.
“We have a number of residential projects under construction with apartments of a higher standard, which are of the greatest interest on the market. But Victoria is a different story. This is Trafalgar Square in London, a place that doesn’t sleep. Exceptional living in Prague, and the price corresponds to that, ”says David Musil, Penta Real Estate’s director for residential construction.
There is a long debate over what’s on the plot in Victory Square next to the summer. Originally, the PPF group wanted to build its project on the site, which was recently supported by the recently deceased Petr Kellner. In 2008, the Group established Vítězné náměstí through its PPF Real Estate market. Two years later, she presented the design of the Line administrative project by architect Radan Hubička. However, after the vicissitudes, he encountered resistance from the public and also from the town hall. In 2016, Vítězné náměstí became the joint venture of the Penta Group and the Kaprain Group.
The Victory Square will undergo an extensive transformation in the coming years. On November 6, the representatives of Prague created a concept, the author of which is the studio Pavel Hnilička Architekti. The main modification will be to release the center of the square, which today is used exclusively by car and tram. A new space for pedestrians and events will be created there. According to preliminary estimates, the reconstruction could cost up to 500 million crowns.