The apartment building on Victory Square in Prague has received a construction permit

Prague – The building authority of Prague 6 has issued a building permit for an apartment building that is set to be built at Vítězné náměstí, replacing the previously planned controversial project nicknamed Polar Bear. This was reported by ČTK from the municipal district's official bulletin. The project for the apartment building called Victoria Palace is backed by the Penta group and Kaprain Group, the financial group of Karel Pražák.

The apartment building, whose future design was created by architects from Jakub Cigler's studio, will be constructed on plots between Jugoslávských partyzánů and Verdunská streets. It is expected to be completed by 2025. The building will have nine above-ground and two underground floors, making it similarly tall as the surrounding developments. The building will contain, among other things, 100 apartments and commercial spaces on the ground floor.

The company Vítězné náměstí purchased the land from Prague 6 in 2018 for 145.6 million crowns and also paid off a debt that the company had owed to the municipality from the past, amounting to 39.4 million crowns. The company Vítězné náměstí has been owned since 2016 by the Penta group and Kaprain Group. Previously, the company was part of the PPF Real Estate group, which sold it to a new owner in 2016. The land was leased from the Prague 6 municipality in 2011 with the intention of building a multifunctional building designed by architect Radan Hubička. The design was awarded the title of the best architectural project in the 2013 Building of the Year competition. However, the project faced opposition from parts of the public, with criticisms that it does not fit into the square and is too large. The building, nicknamed Polar Bear for its shape, was to offer approximately 18,000 m² of space, including offices, a library, and a café. However, the building did not receive the necessary permits.