On Vítězné náměstí in Prague, the Victoria Palace was ceremonially opened

Prague – The Victoria Palace has been ceremoniously opened at Vítězné náměstí in Prague. It features 92 luxury apartments and commercial spaces at the lower level. It is the first new building on the square in 87 years. The construction of the house with a distinctive façade cost approximately 850 million crowns. The architectural design was developed by Jakub Cigler’s studio. Plans to fill the gap at the northern corner of the square have been in place for over 15 years. In 2016, the Kaprain group purchased the project for construction on this site, and later that year invited partner Penta Real Estate.

According to Penta, the design connects contemporary modern architecture with the original First Republic intentions of architect Antonín Engel, who wanted to give Vítězné náměstí a palatial neoclassical appearance. The Victoria Palace, according to the authors, respects the circular shape of the square and its height and roof shape also consider the surrounding buildings. The main elements of the building are facade lamellas made of aluminum and glass concrete, which cost 150 million crowns.

In addition to the building’s shell, the construction has another visually attractive feature according to the investors – the entrance lobby, illuminated by Preciosa, and clad in Italian travertine. This material was favored by the ancient Romans, who used it to build, among other things, the Colosseum, St. Peter's Basilica, and the Trevi Fountain.

According to architect Zdeněk Lukeš, the project is a bit of a missed opportunity. "About ten years ago, when the plot still belonged to Petr Kellner, a competition was announced for the house, and a very inventive design by architect Radan Hubička won, but unfortunately, it did not pass through conservative heritage protectors. The design horizontally divided the large mass and thus optically reduced it. In my opinion, Cigler's project, with its white verticals extending beyond the roof, actually makes the building look larger, so it appears taller than Engel's buildings, although that is not the case,” Lukeš stated in response to a question from ČTK. He believes it is good that the project includes apartments and shops.

According to a previous statement from Penta to ČTK, the price per square meter will reach up to 225,000 crowns. According to the latest data from the development company Central Group, an apartment in a new building in Prague currently costs an average of 152,644 crowns per square meter, while older apartments cost 123,683 crowns per square meter. All commercial spaces totaling 1,900 m² in Victoria Palace are also leased.

Vítězné náměstí was created in 1925. Its urban concept was designed by Antonín Engel, but it was never completed. This is expected to change with the completion of the so-called fourth quadrant. Vítězné náměstí has had several names; for example, it was called Náměstí Říjnové revoluce from 1952 to 1990, but it became popularly known as "Kulaták" among Prague residents.

The winning proposal for the redevelopment of the square comes from the Dutch and Czech studio Benthem Crouwel International and Opočenský Valouch Architekti (OVA). A multifunctional object with apartments, offices, shops, services, and restaurants is to be created in the fourth quadrant. Penta Real Estate also plans further development in this area.