Passerinvest breaks the ice with new office project

Published: 24. 05. 2024

Passerinvest began construction on Hila, a new office building yesterday, the first time a Prague developer has done so on a speculative basis in two years. Located in the Brumlovka office park, the multifunctional building is a bit more multifunctional than most: along with 20,500 sqm of offices (on floors 2 to 8), 2,000 sqm of retail space (ground floor), Hila will offer 71 rental flats on the 9th to 15 storeys. Office users will still get the terraces that are becoming a must-have item, while the flats each come with a balcony.

“For two years, no major office building started to be built in Prague for the free market,” said Passerinvest’s founder Radim Passer. “I thank God for giving us the courage to swim against the tide and start…By combining the main function of modern offices and rental housing within a single, yet sufficiently large building, we are once again becoming market pioneers.”

Development director Eduard Forejt said construction of new offices may have stopped, but “demand for new offices that meets current requirements hasn’t disappeared, not to mention flats….we’re firmly convinced we’ll be able to fill the building quickly.”

Hila will have frontage on three streets: Vyskočilova, Želetavská and Jemnická. A total of four underground parking levels will provide 420 spaces, exclusively for building users. The office portion of the building is expected to complete by the end of 2026, while the apartments will take until spring of 2027.

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