Crestyl has at last secured the planning permit for Savarin, its landmark project on lower Wenceslas Square. It’s a huge step forward for an intervention of enormous importance to central Prague, since the CZK 8 billion investment connects Wenceslas Square with Na Příkopě, Jindřišská, and Panská streets through a network of passages.
Four interconnected sections will house retail, restaurants, the Time Out Market concept with fifteen food vendors, and a renovated baroque riding hall that forms the development’s centerpiece.
Crestyl chose to work on Savarin with Thomas Heatherwick and his studio, for whom the project represents its continental European debut. Crestyl has already completed the first phase—restoration of the baroque Savarin Palace designed by Kilián Ignác Dientzenhofer. The restored building now houses the Mucha Museum, which opened in February with eleven reconstructed baroque sculptures adorning its facade.
Construction is scheduled to begin next year, with completion targeted for 2029. The project includes barrier-free metro access, rooftop gardens, and public green space in what was previously an inaccessible courtyard.
Beyond the main commercial spaces, the development will feature underground exhibition areas specifically designed to potentially house Alfons Mucha’s monumental Slovanská epopej (Slavic Epic), adding cultural gravitas to the mixed-use complex. The building facing Jindřišská street will contain its own private green courtyard alongside multiple restaurant concepts, while the historic riding hall will be transformed into premium event spaces for corporate and social functions.
“We’ve worked intensively on the preparations for several years, and it’s truly cost us a great deal of work and effort. Now we’ll undertake preparing the documentation for the construction permit. We expect to start the actual construction early next year, which would allow us to complete the entire project and open it to the public in 2029,” says Simon Johnson, CEO of the Crestyl Group.
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