The City of Prague has agreed to lend land it owns on Vítězné náměstí in Prague 6 to the investor behind a planned residential project on the square. The city council’s approval of the deal is a key step in allowing the project, which will include a retail component, to move ahead. The project’s investor is a group owned by Penta Real Estate and Kaprain Group. It will have to compensate the city for the use of the land but it’s not yet known how much. PRE and Kaprain Group assigned the architect Jakub Cigler to produce the design for the project, replacing an earlier design nicknamed Polar Bear that had proved controversial. At the time, the project was in the hands of PPF Real Estate.
