The vestibule and surrounding area of the Českomoravská metro station in Prague are set for a major transformation. Karel Pražák’s Kaprain Group acquired a project from developer Crescon to build a new office complex over the metro vestibule. The land currently houses a bus terminal, and will require a comprehensive revitalization of the area. The story was broken by E15, which reports that Crescon won the original tender for the project from city’s transport company DPP back in 2019.
Kaprain’s project includes plans for office buildings and a pedestrian zone near the O2 Arena. The deal with Crescon went through over the summer, adding to land Kaprain previously acquired in 2021. The group is awaiting zoning and building permits and hasn’t disclosed the investment amount. Estimates suggest it will exceed one billion crowns. The development will likely be five to six stories tall, in line with surrounding structures.
Kaprain has been involved in the area’s modernization since 2017, having already built two office buildings nearby. The group is also working on developing a new city district on land owned by Howden ČKD Compressors. Collaborating with partners like PPF Group and Penta, Kaprain is creating a cohesive urban space. Meanwhile, the Prague Public Transit Company (DPP) is preparing to modernize the metro vestibule. Reconstruction could start later this yearor early 2025, ensuring both projects are coordinated.
Last year, Penta Real Estate acquired a 40% stake in a project next to the O2 arena in Vysočany – Prague 9 which Kaprain is leading. This project is socated on a 50,000 sqm plot that once housed the Howden ČKD factory. The investment will unfold according to an urban plan prepared for Prague 9 by the architect Jiří Řezák of Qarta architektura. Emil Kolben square will form the heart of the new area where up to 1,000 new flats could eventually be built.
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