The Czech Economic Chamber was forced to sell its headquarters in Prague-VysoÄany. The organization, which represents 14,000 companies and small businesses, was not able to meet its monthly CZK 1m mortgage payments.
The building, located at the VysoÄanskĆ” metro station next to the Clarion hotel, was bought by a Russian investor. Yugra Alliance, owned by the Moscow-based businessman Volodya Elizbaryan, paid CZK 115m for the building and is planning to renovate the premises, writes HospodĆ”ÅskĆ© noviny. Pert Kužel, the economic chamberās former president, signed the deal two month before his resignation. Yugra agreed to let the chamber lease the building for another five years.
