It’s believed that the Munich-based investor GLL has purchased the Diamant building on Wenceslas Square in central Prague, according to market sources. While Prague city officials gave permission for the original Diamant building to be torn down years ago, it took until last year for construction of the 10,200 sqm retail, office and residential project to be completed. The breakthrough for the developer came when the Austrian retailer C&A agreed to lease terms and made the central-Prague store one of its European flagships. The retailer opened a 5,700 sqm department store in the building, leaving roughly 3,500 sqm of office space left to lease, and additional apartments to be rented out. Neither side would confirm the deal’s completion.
