In Prague-Karlín, new offices have begun to be established for 300 million CZK
Prague, March 30 (CTK) - The development company Karlin Group has started the construction of a new office building in Prague-Karlín. The investment will amount to approximately 300 million crowns. The developer presented the project at today's press conference.
The main tenant of the building with an area of 6,500 square meters will be the domestic construction company SMP CZ from the French group Vinci. In the project, it has leased 4,000 square meters of office space. The construction work is provided by Průmstav, another member of the French conglomerate. Karlin Group expects to complete the construction in the second half of 2011.
This year, the Karlín developer plans to start the construction of the second phase of another office project called Corso II B. In addition to Karlín, it is also building or planning the construction of apartments, shops, and offices in places like Libeň and Modřany. Karlin Group was established in 1997 as Real Estate Karlin Group.
According to the Prague Research Forum, the construction of offices in Prague fell by half in 2009. While in 2008, 333,000 square meters of office space were built in the metropolis, last year it was only 161,700 square meters. Currently, there are 2.7 million square meters of office space in the capital.
The main tenant of the building with an area of 6,500 square meters will be the domestic construction company SMP CZ from the French group Vinci. In the project, it has leased 4,000 square meters of office space. The construction work is provided by Průmstav, another member of the French conglomerate. Karlin Group expects to complete the construction in the second half of 2011.
This year, the Karlín developer plans to start the construction of the second phase of another office project called Corso II B. In addition to Karlín, it is also building or planning the construction of apartments, shops, and offices in places like Libeň and Modřany. Karlin Group was established in 1997 as Real Estate Karlin Group.
According to the Prague Research Forum, the construction of offices in Prague fell by half in 2009. While in 2008, 333,000 square meters of office space were built in the metropolis, last year it was only 161,700 square meters. Currently, there are 2.7 million square meters of office space in the capital.
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Construction of a new administrative project Keystone has begun
Prague - Recently, the most significant Karlín and leading Prague developer, Karlin Group, has begun the construction of the KEYSTONE administrative building, which will be located at the intersection of Pobřežní and Šaldova streets, on the border of the original Karlín development. The architecturally unique KEYSTONE building, which is a modern interpretation of Czech Cubism, will offer approximately 6,500 m² of premium office and commercial space.
This is the first initiated administrative building construction in Prague this year, and its completion is planned for September 2011. The KEYSTONE building meets all the requirements for modern office spaces and will consist of 8 above-ground floors. In addition to offices, it will also offer 850 m² of retail space and 68 parking spaces in 3 underground levels. The estimated total costs for the project will reach nearly 300 million CZK. The construction is provided by Průmstav a.s. from the Vinci Construction group, which also became the first and main tenant of this building.
“We are very proud that the Keystone building already has its main tenant, the largest French and global construction group Vinci Construction, which will have its headquarters here on an area of over 4,000 m²,” said Milorad Miškovič, a partner at Karlin Group. “Given the unique location and architecture of the building, we expect great interest in renting the remaining spaces and believe that by the time of occupancy, Keystone will be fully occupied. It would thus become one of the most successful projects in this - challenging - time for developers.”
According to estimates, in 2010, only approximately 50,000 m² of new office space will be started in Prague. By constructing the Keystone building together with this year's planned start of the second phase of the Corso II B project, Karlin Group will cover almost 50% of this volume.
Keystone is the result of an effort to maximize the use of construction space, taking into account restrictions in the existing urban zone. The building, designed by Mathias Müller and Daniel Niggli from the Swiss architectural office EM2N, is a modern interpretation of Czech Cubism. “When we arrived in Prague, we discovered Czech Cubism and realized it is truly amazing and unique. Although this movement originated at the beginning of the last century, it can offer new impulses to contemporary architecture. Therefore, we decided to explore its aesthetic possibilities,” one of the authors, Mathias Müller, comments on the design.
“The name Keystone has a symbolic meaning,” said Hana Samuelová, marketing manager of Karlin Group, regarding the project. “It is not only a term for the keystone forming the center of an arch in architecture, but for us, it also expresses the connection between old and new Karlín, linking the city center with the areas of Karlín, Libeň, and Palmova. It is another step towards the regeneration and revitalization of the Karlín area, which Karlin Group has been focusing on for a long time.”
Keystone is being constructed in a very significant part of Prague's Karlín, as the planned development of this area, approved in the urban plan, includes the construction of a bridge over the Vltava River, which will extend from Šaldova Street and connect Karlín with Holešovice. In the future, Keystone will dominate one of the most important intersections in Karlín and is the first commercial building that officially starts the revitalization of Rohanský Island. Karlin Group will soon continue the development of the area between Pobřežní Street and the river with the planned residential and administrative complex River Gardens, which anticipates the construction of up to 130,000 m² of above-ground commercial and residential space over the next 5-10 years.
“For some, the greatest pleasure in life is chocolate, caviar, or champagne. For us, it is building quality architecture. And the pleasure is even more enjoyable when you can savor it again after a long period of involuntary fasting,” comments Serge Borenstein, founder of Karlin Group, on the start of the Keystone construction.
This is the first initiated administrative building construction in Prague this year, and its completion is planned for September 2011. The KEYSTONE building meets all the requirements for modern office spaces and will consist of 8 above-ground floors. In addition to offices, it will also offer 850 m² of retail space and 68 parking spaces in 3 underground levels. The estimated total costs for the project will reach nearly 300 million CZK. The construction is provided by Průmstav a.s. from the Vinci Construction group, which also became the first and main tenant of this building.
“We are very proud that the Keystone building already has its main tenant, the largest French and global construction group Vinci Construction, which will have its headquarters here on an area of over 4,000 m²,” said Milorad Miškovič, a partner at Karlin Group. “Given the unique location and architecture of the building, we expect great interest in renting the remaining spaces and believe that by the time of occupancy, Keystone will be fully occupied. It would thus become one of the most successful projects in this - challenging - time for developers.”
According to estimates, in 2010, only approximately 50,000 m² of new office space will be started in Prague. By constructing the Keystone building together with this year's planned start of the second phase of the Corso II B project, Karlin Group will cover almost 50% of this volume.
Keystone is the result of an effort to maximize the use of construction space, taking into account restrictions in the existing urban zone. The building, designed by Mathias Müller and Daniel Niggli from the Swiss architectural office EM2N, is a modern interpretation of Czech Cubism. “When we arrived in Prague, we discovered Czech Cubism and realized it is truly amazing and unique. Although this movement originated at the beginning of the last century, it can offer new impulses to contemporary architecture. Therefore, we decided to explore its aesthetic possibilities,” one of the authors, Mathias Müller, comments on the design.
“The name Keystone has a symbolic meaning,” said Hana Samuelová, marketing manager of Karlin Group, regarding the project. “It is not only a term for the keystone forming the center of an arch in architecture, but for us, it also expresses the connection between old and new Karlín, linking the city center with the areas of Karlín, Libeň, and Palmova. It is another step towards the regeneration and revitalization of the Karlín area, which Karlin Group has been focusing on for a long time.”
Keystone is being constructed in a very significant part of Prague's Karlín, as the planned development of this area, approved in the urban plan, includes the construction of a bridge over the Vltava River, which will extend from Šaldova Street and connect Karlín with Holešovice. In the future, Keystone will dominate one of the most important intersections in Karlín and is the first commercial building that officially starts the revitalization of Rohanský Island. Karlin Group will soon continue the development of the area between Pobřežní Street and the river with the planned residential and administrative complex River Gardens, which anticipates the construction of up to 130,000 m² of above-ground commercial and residential space over the next 5-10 years.
“For some, the greatest pleasure in life is chocolate, caviar, or champagne. For us, it is building quality architecture. And the pleasure is even more enjoyable when you can savor it again after a long period of involuntary fasting,” comments Serge Borenstein, founder of Karlin Group, on the start of the Keystone construction.
Press release from Karlin Group
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