City of Prague breaks record in public investments

03
Apr
2024
News - City of Prague breaks record in public investments #Czech Republic #investment #Prague

by Property Forum | Investment

Construction work on a record number of public buildings is planned by the Czech capital city this year. In addition to the city, the state is also participating as an investor in more than a dozen projects in the field of transport infrastructure or public space. The total investment costs of individual projects are reaching almost CZK 50 billion (€1,97 billion).


The undelivered torso of the Prague 8 Town Hall will be transformed into a European space research centre for the European Union Space Program Agency (EUSPA). The start of construction is planned for the summer/autumn of 2024, and completion is planned for 2025. The investor is the Capital City of Prague and the investment costs are approximately CZK 2.5 billion (€98,7 million).

The revitalization of Wenceslas Square as the centre of the Prague Monument Reserve has been planned since 2005, the plan was supplemented by a new tram line that will strengthen the Prague tram network. New rows of trees will be added to the square and the area for pedestrian and bicycle traffic will be expanded. The construction is divided into stages, complete completion is expected in 2026, the investor is the Transport Company of the Capital City of Prague.

The complete reconstruction of the Negrelli Viaduct by the Railway Administration is followed by the project of glazing the first of the arches, which is the next step in revitalizing the bridge and the entire site. The influence of the test operation on the state of the cultural monument will be monitored by the capital in cooperation with the preservationists. The results of the measurements will serve as a basis for obtaining a building permit for the revitalization of the remaining arches. The future glazed arches should subsequently be used for long-term commercial and creative rentals, but also for short-term rentals for start-ups.

In addition to the reconstruction, expansion and necessary modernization of the platforms, completing the Masaryk station will also ensure its better connection with the city. A platform will be created above the area of ​​the track and platforms, which will fundamentally expand the accessibility of the location. The Railway Administration will invest CZK 3.4 billion (€134,2 million) here. Delivery is planned for 2027.

The Smíchov railway station will also be transformed into a modern transport terminal for urban, suburban and regional transport. The Railway Administration has started the first stage of the reconstruction of the platforms, next year the subsequent urban construction will also begin, and completion is planned for 2030. The investor tandem Capital City of Prague and the Railway Administration expect costs of almost CZK 13 billion (€513 million).

The new line D of the Prague metro is a key infrastructure construction and one of the largest transport projects that will affect the life of the capital in the coming decades. The new 10.6 km long route will connect a total of ten stations. Completion of the 1st stage is expected in autumn 2029, investment costs are CZK 14 billion (€552,5 million).

Prague Ring Road 511, i.e. the section between Běchovice and D1 belongs to the motorway network, so its construction is the role of the state. The capital contributes to the improvement of the surroundings, thanks to which the building fits naturally into the landscape and does not form a barrier. The 12.6 km long section will include 2 tunnels, 4 interchanges, 5 bridges and 2 overpasses for pedestrians and cyclists. The Directorate of Roads and Highways will invest CZK 15.7 billion (€619,6 million) here until 2027.

The inundation Libeňský Bridge, which until now was in a desolate state, will also receive reconstruction. The project envisages the total replacement of the structure, but also the revitalization of the surroundings. The construction of the Dvorecký bridge, which will connect the districts of Podolí and Smíchov, is expected to be completed next year. On the Podolí side, cultural and recreational facilities will be created in the form of a climbing wall, a skate park and an amphitheatre. A light garden will be created in Smíchov, where artist Kryštof Kintera will place street lighting from around the world. The reconstruction of the Barrand Bridge will be completed this year. One of the busiest bridges in the Czech Republic is entering the final phase of repairs.

"This year is unprecedentedly significant in terms of public construction. Construction work will be started on several major projects, thanks to which the people of Prague will feel the change. We will transfer the energy from paper to the city this year," says Petr Hlaváček, Deputy Mayor of Prague for Territorial and Strategic Development.

"As urban planners and planners, we are used to long-term horizons, years of planning, complex management, agreements and coordination. So sometimes it's hard to see the light at the end of the tunnel. It's a joy to observe when the contours from the visualizations finally materialize in the city," adds Ondřej Boháč, Director at the Institute of Planning and Development.




Latest news


New leases

  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


Latest news

News - Panattoni starts 20,000 sqm logistics centre for Toyota in Warsaw
07
May
2026

Panattoni starts 20,000 sqm logistics centre for Toyota in Warsaw

by Property Forum
Panattoni has begun developing a logistics centre in Warsaw for Toyota Logistics Services Poland. The project will be delivered as a build-to-suit (BTS) within the City Logistics Warsaw Airport IV complex and will comprise nearly 20,000 sqm of warehouse and logistics space, along with office and social facilities.
Read more >
News - Aupark Shopping Centre secures €270 million refinancing
06
May
2026

Aupark Shopping Centre secures €270 million refinancing

by Property Forum
Aupark Shopping Centre has finalised a €270 million refinancing and top-up financing facility. The transaction stands as one of the largest real estate financing operations ever recorded in Slovakia, reflecting sustained institutional confidence in high-quality retail assets.
Read more >
News - 7R to develop 230,000 sqm urban logistics complex in Kraków
06
May
2026

7R to develop 230,000 sqm urban logistics complex in Kraków

by Property Forum
Commercial real estate developer 7R has officially commenced construction on 7R Hub Nowa Huta, a significant logistics and technology centre located in Kraków. The project is designed to deliver approximately 230,000 sqm of specialised technical and production space to the Polish market.
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