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New Mixed Use Projects Are About to Be Built in Prague

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Mixed-use projects, which integrate offices, stores, housing, social spaces, and recreational facilities, are now being constructed in the Czech Republic.

Some notable examples of such projects include Slovanský dům in Prague, the planned redevelopment of the Savarin Palace in Prague, and Dornych Palace in Brno. However, the Czech Republic falls behind other countries in terms of constructing these multifunctional complexes, primarily due to the lengthy permitting process, as indicated by investment consulting firm Colliers.

Joseph Stanko, an analyst at Colliers, explains the appeal of mixed-use complexes, stating, “Office tenants find it attractive to provide their employees with convenient amenities near their workplace. Likewise, stores and catering establishments benefit from concentrating potential customers in a single location. When combined with culture and housing, these complexes offer the ideal blend for users.”

Compared to the rest of Europe, the Czech Republic is currently building only a small fraction of mixed-use complexes. Stanko points out that neighboring Poland, for instance, is witnessing the development of over 60 mixed-use complexes at various stages.

Mixed-use complexes hold great significance as they align with the concept of “15-minute cities,” which prioritize functionality and convenience. The underlying idea of this trend is to provide residents with employment opportunities and essential services such as healthcare, education, shopping, restaurants, and entertainment within a 15-minute walk or bike ride from their homes. The concept originated in 2016 from the work of Carlos Moreno, a French-Colombian professor at the Paris Institute of Business Administration. Utrecht in the Netherlands serves as an example of a city where residents can access all necessary services within a quarter of an hour. Similar urban transformation plans are also underway in the United States, China, and Israel.

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