Vltava Philharmonic enters permitting process

24
Sep
2024
News - Vltava Philharmonic enters permitting process #Czech Republic #Prague #report

by Property Forum | Report

Two years after the results of the international architectural competition won by the Danish BIG, the detailed architectural study of the Vltava Philharmonic has been completed and the construction permitting process has begun by submitting an EIA application.


The construction costs of the project have also been updated. "As part of the completion of the detailed architectural study of the Vltava Philharmonic, there was a detailed elaboration of individual operational, structural, functional and technical solutions, the required addition of spaces and the overall efficiency of the use of the building. Even so, the volume of the building increased by 13%. As a follow-up to this and to the development of the economy in the past two years, when the price level of building materials and construction work changed, we had the budget updated. The tender proposal in April 2022 assumed project costs of CZK 9.4 billion (€374 million). The cost estimate for the construction of the building according to a detailed architectural study in September 2024 is at the level of CZK 11.65 billion (€463 million). This is an increase of 11.5%, which the Commission hl. City of Prague for the construction of the Vltava Philharmonic and Prague City Council accepted in September 2024. The financing of the project will be from multiple sources, we are working on the most suitable solution," adds the details of Ing. Martin Krupauer, head of the project team of the Vltava Philharmonic.

Doc. MUDr. Bohuslav Svoboda, CSc., City of Prague Mayor states: "We perceive the Vltava Philharmonic not only as a Prague project that will enrich the local cultural life and start the transformation of the Bubny-Zátory development area, but also as a project that goes beyond the boundaries of the metropolis in its significance. The Vltava Philharmonic will become a cultural ornament for the entire Czech Republic and by extension the Central European region. I am pleased that the winning design has been refined into a detailed architectural study and we are moving forward on the right path.”

The Vltava Philharmonic is conceived as a national centre of musical art. It will be the seat of the Czech Philharmonic and Symphony Orchestra Prague FOK and they will have adequate spaces for their residence and their educational programs. The Philharmonic is designed to be as open as possible, and its ambition is to attract not only lovers of classical music but also residents and visitors to Prague from all over the country and abroad.




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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