Zeitgeist Asset Management is currently waiting for a building permit for its reconstruction of Palac Dunaj, a building in central Prague it bought from Eurovia in 2017. At the time of the sale, the investor was unsure what use it would be put to, writes Lidove noviny, but its director Peter Noack now says that it will provide office space. “It’s a beautiful historic building and we want to leave it in its current form as much as possible,” he said. “If we’d built a hotel or flats in it, we’d have to carry out changes that the building doesn’t allow.” LN writes that the developer thinks construction should begin early next year and that it will take two years to complete. Palac Dunaj is located on Narodní třída next to the DRN building where Prague’s first WeWork is the main tenant.
