The Philharmonic on the Prague Vltava will be more expensive, the new estimate speaks of 9.4 billion CZK

Prague – The estimated construction costs for the Philharmonic near the Vltavská metro station in Prague are currently assessed at 9.4 billion crowns excluding VAT, compared to last year's original estimate of 4.9 billion. This comes from a document approved by city councilors yesterday, which confirmed the results of the architectural competition for the building's design. The Danish architectural studio Bjarke Ingels Group succeeded in this competition. The preparation of the project documentation is expected to cost an additional 780 million crowns, and further billions will be needed for adjustments to the surroundings. According to the city's plans, the building should be completed by 2032.

"The results of the expert evaluation within the competition exceeded the original cost estimates for all architectural proposals, ranging from approximately 6.5 to 11.5 billion crowns excluding VAT. For the winning architectural proposal, the construction costs of the Vltavská Philharmonic are estimated at 9.4 billion crowns excluding VAT," states the approved document.

The increased price compared to the estimate from last January is attributed to rising construction costs and materials, the originality of the selected design, or a 15 percent increase in floor area. In addition to the costs for the construction itself, the city also estimates that another 2.9 billion excluding VAT will need to be invested in further interventions in the vicinity of Vltavská, such as adjustments to the embankment, the metro vestibule, or transportation solutions. The estimate will be further refined according to the document as the project preparation progresses.

The winning studio will now collaborate with the city to complete the architectural study. "After this phase, the construction costs necessary for the implementation of the Vltavská Philharmonic and projects within the addressed area will also be finally verified. Subsequently, a directive will be issued for processing the next phase of the project documentation," states the document. The councilors also approved a memorandum today stating that Czech Radio will also participate in the preparation of the building.

The city is seeking co-financing for the construction from the state, as it would not be able to finance the project from its own funds, according to previous statements by the city's leadership. It is also considering the involvement of private investors. Councilor Jan Chabr (TOP 09) stated today that the basic idea is to divide the financing into thirds between the city, the state, and the private sector.

The Vltavská Philharmonic is expected to have three halls – a concert hall for 1,800 spectators, a smaller one for chamber music with a capacity of 500, and a multifunctional space for other genres and types of events with a capacity of up to 700 people. The building will house the Czech Philharmonic, the Symphony Orchestra of the Capital City of Prague FOK, and the music department of the City Library in Prague. The Philharmonic will also offer cafes and restaurants, for example. The construction of the new cultural center is part of the transformation of the Bubny-Zátory area, where the creation of a district for up to 25,000 people is planned.