Palmovka Open Park for 1.5 billion has completed the rough construction

Prague - The development company Metrostav Development has completed the rough construction of the office project Palmovka Open Park in Prague 8. The first tenants are expected to move in by mid-2018. The total costs will amount to nearly 1.5 billion crowns. This was stated today by the company's CEO Ondřej Buršík at a press conference.

The project consists of three buildings with a total rentable area of 25,500 m², which is more than half the size of Wenceslas Square. Most of this space is allocated for offices, with a smaller portion dedicated to retail spaces. Beneath all the buildings, there will be an underground parking garage with a capacity of 250 spaces.

Also included is a revitalized hall of the original Horák and Hlava machine shop, which is a technical cultural monument. "In this uniquely industrial space, we plan to open a dining facility with a capacity of approximately 200 seats in collaboration with Perfect Canteen," said Jana Hüttelová, who is responsible for leasing commercial spaces at Metrostav.

The buildings are being constructed according to the design by Aulík Fišer architects and the construction company Metrostav. Work began in June 2016. "So far, we have leased 42 percent of the office spaces. Among our current tenants are companies such as Lagardere Trevel Retail and Euler Hermes," added Petr Štyler, the development director at Metrostav Development. According to him, the project also includes a park that will connect it to the Palmovka metro station.

Metrostav Development was established in 2008 by spinning off the Development division from Metrostav and oversees all development activities of the group. Since its inception, it has completed more than 2,000 apartments in ten projects and several administrative buildings. The first project in the Palmovka area was Palmovka Park 1, completed in 2001.

The company sees great potential in this location. "It is one of the largest transportation intersections in Prague, with a tram passing by every half minute, and there is a metro station here. It has similar potential to Anděl 15 years ago," Buršík added.