The skyscraper in Pankrác was built from the 1980s and was completed in 2008

Prague - Basic information about the City Tower building in Prague's Pankrác, which was purchased for 4.4 billion crowns by the ČS real estate fund from PPF Real Estate Holding:

- Currently the second tallest building in the Czech Republic, Prague residents had known the building for many years primarily as the unfinished new headquarters of the Czechoslovak Radio, the remnants of which disfigured the Pankrác plain for years. Although construction began in the early 1980s, it was still unfinished and abandoned by the end of the millennium. It was not until the turn of 1999 and 2000 that the building was acquired by ECM, which initiated a radical reconstruction five years later. The building was officially completed on December 20, 2007.

- City Tower measures 108 meters (including the antenna 116.5 meters) and is the tallest building in Prague and the second tallest in the Czech Republic. For many years, the Prague structure, albeit unfinished, held the title until it was surpassed by the Brno-based AZ Tower in March 2013, which measures 111 meters. The third place belongs to the City Empiria building (originally Motokov from 1977), which also stands in Pankrác and measures 104 meters. The fourth tallest building in the Czech Republic was built in 1984 in Most as the headquarters of the North Bohemian Brown Coal Mines, measuring 96 meters.

- The building originally intended for radio began construction in 1983, and besides a concert studio for radio and television, it was supposed to accommodate a new concert hall for the capital. Completion of the complex was planned for 1986, but the deadline could not be met. The construction was financed from the state budget, and in 1992 the federal government promised that the project would also be completed with state funds. However, after the breakup of Czechoslovakia, the Czech government did not take on the commitment made by the federal government, and the unfinished building was transferred to the ownership of Czech Radio (ČRo).

- ČRo repeatedly tried to sell the building, for which it had no money for completion and no intended use, but only succeeded in 1999. The new owner of the building became ECM for 285 million crowns, which in 2000 presented a study developed by renowned architect Richard Meier, according to which the building was to be increased to 122 meters and another 160-meter high building was to be constructed beside it. After extensive debate, the plans were modified, and the former radio building remained at its original height.

- Since its completion, City Tower has changed owners several times. The ECM group, which found itself in economic trouble, first sold it to Marpona, controlled by the Slovak company Insfin, at the end of 2009; the value of the transaction was 3.4 billion crowns. Three years later, the owner of the skyscraper became the company Consideratio, owned through the company Fintop by the holding Proxy-Finance. Neither party disclosed the transaction's price. The PPF group of entrepreneur Petr Kellner then purchased City Tower in the spring of 2014 for an undisclosed sum.

- In Pankrác, alongside today's City Tower, several other high-rise buildings have emerged since the turn of the 70s and 80s. They are essentially remnants of an architectural competition from the mid-60s, intended to create a modern center for Prague 4. The original concept began to fragment, and besides the aforementioned buildings, today only the Panorama hotel, 79 meters high and completed in 1983, and the Forum hotel (now Corinthia) from 1988 on the edge of the Nusle Valley, 84 meters high, stand in Pankrác. Last year, a residential project called V Tower began construction nearby City Tower, which is set to reach a height of 104 meters upon completion.