After 10 years of operation, the Palladium shopping center on nám. Republiky in Prague 1 is set to undergo a thorough redesign. Work will start on the façade, but the interior will also be modernized over the next two to three years, with navigation through the shopping center to be simplified. Palladium changed hands in 2015, with the new owner, Union Investments, paying €570m in what was the largest single property transaction in the Czech Republic to date. Expansions and modernizations of shopping centers are trending on the Prague market, where there is lack of space for new development, says Tomáš Vavrečka of Cushman & Wakefield.
