Slovak developer Corwin has announced its first Prague project called Dvory, located in Prague 9 - Vysočany. Like the company's Palma project in Bratislava, this development involves revitalising a brownfield site into a sustainable modern district for living and working. Construction of the first phase is expected to begin by the end of 2025.
Corwin purchased the Prague site in 2023 and developed the revitalisation concept in collaboration with Jan Gehl and David Sim, two globally recognised experts in creating people-friendly cities. "This approach was very favourably received by the city leadership, the municipal district and IPR, with whom we have established very positive and constructive cooperation," says Jakub Dobrý, Country Manager Corwin CZ.
The Prague project marks Corwin's entry into the Czech market after establishing itself as a leading developer in Ljubljana, Slovenia. The company opened its Prague office in 2022. "Czech Republic is linguistically and legislatively close to us. It represents another logical step in our international expansion," Dobrý explains.
The first phase of Dvory will deliver 229 apartments, 6,000 sqm of office space and 1,400 sqm for retail and services. The complete development will take approximately 8-10 years and provide over 1,000 apartments with various layouts. The project emphasises reducing housing costs through efficient use of floor space and high energy efficiency of buildings.
Prague plays a significant role in Corwin's long-term plans, partly due to higher purchasing power compared to Slovakia and lower state tax burden. However, the company remains committed to its Bratislava projects. "Palma remains our flagship project. After years of joint preparations, we managed to approve the zoning plan change for the locality," Dobrý concludes.
