Amadeus to renovate Prague department store for €166 million

20
Mar
2023
News - Amadeus to renovate Prague department store for €166 million #Czech Republic #development #mall #Metrostav #Prague #retail #shopping centres

by Property Forum | Retail

Amadeus Real Estate in Prague is reconstructing a cultural monument from the 1970s - the OD Máj department store. According to the developer's estimate, the reconstruction, which is being carried out by the construction company Metrostav, will cost CZK 4 billion, i.e. €166.7 million. OD Máj should be reopened within a year and should offer a restaurant with a view in addition to shops and a gallery, reports ČTK.


The reconstruction of the OD Máj department store in Prague, which has been a cultural monument since 2006, should be completed in the first half of 2024, according to the development company Amádeus Real Estate. "We would like to open Máj to the public in its modernised form in the first half of 2024. The total cost of the complete reconstruction will reach CZK 4 billion (€166.7 million)," Václav Klán, Head of Amádeus Real Estate, told ČTK.

According to Milan Mlada, the project's chief architect, the company also wants to offer culture and entertainment. In addition to shops, the new Máj department store, which will have nine floors open to the public after modernisation, will also offer an expanded gastronomy area, a gallery, a children's corner and a restaurant with a view. The final renovation concept fully preserves the original appearance of the cultural monument, including the replica facades or their colour scheme. "Even after the reconstruction, the house will look like it is the original house, it will just have full new cladding, except for the facades, which are distinctive," Mlada added.

The firm said it collaborated with the original designers, architects Martin Rajnis and John Eisler, on the design of the Mája redevelopment. The developer said the project also considered suggestions from other conservation and urban planning experts. The department store at the corner of Spálená and Národní was built on the site of the neo-Gothic Šlikova Palace, designed by Miroslav Masák, John Eisler and Martin Rajniš from the Liberec studio SIAL, which was founded in 1968 by Karel Hubáček, the author of the Jested transmitter. Máj opened to customers on 21 April 1975.




Latest news


New leases

  • Panattoni has commenced construction on the latest phase of Panattoni Park Gorzów II, developing a bespoke BTS warehouse for DPD Polska. The facility will encompass 5,300 sqm tailored to the courier company’s operational requirements. DPD Polska is scheduled to begin operations at the new site in August 2026.
  • Romanian strategic advisory firm Infinexa Restructuring has relocated its HQ to GTC’s City Gate South Tower in Bucharest. The move supports their integrated approach to delivering complex debt restructuring, insolvency mandates, and preventive procedures for distressed companies.
  • Sports Direct has leased 1,700 sqm in XOPark Sofia for its first Bulgarian store, in a deal brokered by CBRE.

New appointments

  • Panattoni has promoted Nick Cripps to the position of Head of International Capital Markets for Europe, the UK, the Middle East, and India. Based in London, Cripps is tasked with leading the firm’s global capital markets strategy across 18 diverse markets. He joined Panattoni five years ago as Head of UK Capital Markets.
  • PSN has expanded its acquisitions team with the arrival of Martin Šrytr as Business Development Manager. Most recently, he served as Real Estate Expansion Manager at Twistcafe Group, supporting the company’s EMEA growth. His previous experience includes consulting at Cushman & Wakefield, advisory roles at Prochazka & Partners, and management positions within IWG.
  • iO Partners has announced key leadership changes within its Czech Republic operations as part of its ongoing business evolution. Milan Kilik has been appointed as the new Head of Office Leasing, with a particular focus on client advisory and team collaboration. Concurrently, Petr Kareš has transitioned into the role of Occupier Business Development Director. In this new capacity, he will be responsible for identifying new market opportunities and integrating services across Tenant Representation, Project Management, and Industrial Leasing.


Latest news

News - Belgrade apartment sales hit €770 million in Q4 2025
24
Mar
2026

Belgrade apartment sales hit €770 million in Q4 2025

by Property Forum
Belgrade's apartment market recorded €768.5 million in sales during the fourth quarter of 2025, marking an 18% increase compared to €651.9 million in the same period the previous year, according to data from the Republic Geodetic Authority, analysed by real estate consultancy Cordon.
Read more >
News - Sarantis Polska opens new distribution centre in MLP Pruszków
24
Mar
2026

Sarantis Polska opens new distribution centre in MLP Pruszków

by Property Forum
MLP Group has handed over a warehouse facility to Sarantis Polska at the MLP Pruszków II logistics park. The new building spans over 24,000 sqm and serves as a distribution centre for domestic and international markets.
Read more >
News - Full speed ahead: Inside CTP’s drive to double its portfolio
24
Mar
2026

Full speed ahead: Inside CTP’s drive to double its portfolio

by Ákos Budai
CTP is pushing ahead with an ambitious growth strategy, targeting a near doubling of its portfolio by 2030 while expanding across CEE and beyond. In an interview with Property Forum, Rob Jones, Head of Investor Relations, explains how strong tenant demand, a vast land bank and a disciplined development approach continue to support one of Europe’s most active logistics platforms.
Read more >


Property Forum ABOUT US

Property Forum is a leading event hub in the CEE real estate industry with over 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Warsaw, Budapest, Bucharest, Bratislava, Prague, Zagreb and Sofia, amongst other locations.
Please send press releases to
newsdesk AT property-forum DOT eu
MORE >

CONTACT

NEWSLETTER

 

Property Forum © 2017 – 2026 | Terms & conditions | Privacy policy