The Malaysian royal fund bought the Protivín castle, investing half a billion

Protivín – The Malaysian Royal Fund has purchased the Protivín Castle along with the adjacent park. The monument is set to be renovated by 2023, with an investment of about half a billion Czech crowns. The castle will serve as accommodation, educational, and representative space for the owners, and a hotel will also be established here. The castle, which at one time belonged to Charles IV, will be involved in the investment program The Royal Capital Club, founded by members of aristocratic families, including royal families from East Asia and other investors. The owners intend to make part of the complex accessible, representatives of the investor told ČTK.

The new owner is the international investment group IC Group, which acts as a business advisor to the fund. The castle was purchased for 100 million CZK. They plan to open it in the first half of next year. "We selected from many properties across the Czech Republic. Primarily, we were looking for a building typical for the Czech land with history and connections to significant Czech monarchs and families. An important argument was also the issued building permit," said project architect Věra Nagyová from Ateliér Arch.IC.

The construction work on the Czech representation of the international investment project The Orb is divided into several phases. The complex will be surrounded by an English park, and the historic cellars with vaulted ceilings will be revitalized. The castle will join the planned 12 residences of The Royal Capital Club worldwide. Protivín is the pilot project, said Hana Tůmová on behalf of the investor.

The owner is discussing the plans with heritage conservationists. The reconstruction from 1985 considered a nature school. "After the revolution, the castle changed owners, and for 30 years, a new use was sought. Now it seems that the investor will complete the plan to build a hotel resort. The advantage is that the project from 1985 was developed to such an extent that no damage can occur in the interior. The plaster is almost completely chipped off, and the ceiling structures are reinforced," said Daniel Šnejd, director of the heritage conservationists in České Budějovice, to ČTK.

The core of the monument consists of a Gothic, originally royal castle. It was reconstructed in the Renaissance and Baroque periods. Two Rococo rooms, a princess's room, and a hall with a fireplace have survived. The castle also includes a garden of more than seven hectares.

"In the renovation, we started with the castle itself, which builds the heart of the entire complex and its surroundings. One of the newly conceived elements will be an atrium," Nagyová said. The color of the façade will also change: the owner wants to return to the legacy of architect Domenico Martinelli, who also contributed to the façades of buildings in Český Krumlov.

The mayor of Protivín, Jaromír Hlaváč (ODS), believes that more tourists will come to the town with less than 5,000 inhabitants. "The castle has been closed for many years. The fact that it will be restored as a residence including accommodation gives us immeasurable plus points. We will have the opportunity for accommodation after a long time, which has been lacking. About 110,000 people visit Protivín annually, but all of them left, and the economic pie was taken elsewhere. Now tourists will have the chance to stay overnight here," said Hlaváč.

The castle belonged to the Luxembourgs and Pernštejn family, and from 1710 to 1948 to the Schwarzenberg family. During the First Republic, it also had a hotel for summer guests, and Eduard Bass wrote the novel "Cirkus Humberto" there. Since 1963, it has been a cultural monument. The castle has not been used since 1988.

The international investment group IC Group collaborates with family investors and investment or banking structures managing a global portfolio worth 40 billion euros. The group is based in London, with over 15 representations worldwide, including the Czech Republic, and implements investment projects in Europe, Malaysia, Central Asia, the Middle and Far East, and South America. The Royal Capital Club is a premium investment program, which includes the Malaysian Royal Fund (Royal Invest Fund of Kelantan), founded by the Malaysian king, the sultan of the northern state of Kelantan, Muhammad V., who ruled the country from 2016 to 2019.