NEWS
HB Reavis Group about to commence construction of an office building project in Prague
In leading Slovak property developer strengthens its position at the Czech real estate market by acquiring a plot of land with an office building project in Karlín
HB Reavis Group today informed of acquisition of the River Garden Office West project in the Karlín cadastral area in Prague. By completing this transaction the company has acquired a plot of land of strategic importance in an attractive administrative zone located about 200 meters from the underground line B, station Křižíkova. All permits for the plot of land and the construction of a high-standard office building have already been issued and are valid. The future building has the footprint of the letter “L” and aligns with the corner of Pobřežní and Thámova streets. The front of the building faces the busy Pobřežní street. When completed, the modern eight-story building will offer almost 20 thousand square meters of leasable office area.
“Acquisition of the River Garden Office West project at the East bank of the river Vltava in one of the most dynamically developing locations is of great symbolic importance to us. Along with some logistics projects and the upcoming construction of shopping and entertainment centres in Hradec Králové and Brno, this gave us the opportunity to strengthen our presence in the capital of the Czech Republic. The construction is scheduled to start almost immediately - in August 2010. The building will be ready for use in May 2012, at the latest,” explains Štefan Duchoslav, CEO of HB Reavis Group CZ.
The modern building designed by the David Chipperfield Architects (Germany) and EM2N (Switzerland) will become an integral part of the developing location which is already home to numerous large corporations, such as Allianz, Deloitte, Kapsch, KPMG, Mediatel, Panasonic, Procter & Gamble or Rolls-Royce International.