Projects that combine offices, shops and housing are starting to be built in the Czech Republic

Projects that combine offices, shops and housing are starting to be built in the Czech Republic

Projects combining offices, shops are starting to be built in the Czech Republic and housing

Savarin Palace in Prague, June 15, 2022.

Prague – So-called mixed-use projects are starting to be built in the Czech Republic. They combine offices, shops, housing and social and recreational spaces. Such projects include, for example, Prague's Slavonic House, the planned reconstruction of Prague's Savarin Palace or Brno's Dornych. According to the consulting investment company Colliers, however, the Czech Republic is lagging behind in the construction of these complexes compared to other countries. According to her, the reason is the long process of building permits. Colliers said in a press release.

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“For office tenants, it is attractive to offer their employees all amenities close to the workplace, for shops and gastronomy, it is an advantage to concentrate potential customers in one place. When culture and housing are added to this, it is an ideal combination for users,” said the analyst Colliers Josef Stanko. According to him, only a fraction of mixed-use complexes are built in the Czech Republic compared to the rest of Europe. “For example, in neighboring Poland, we currently have more than 60 mixed-use complexes in various stages,” the analyst added.

Thanks to their functionality, mixed-use complexes are an ideal part of the so-called fifteen-minute cities, Colliers said. According to her, the main idea behind this trend is to offer residents work and necessary services, such as health care, education, shopping, gastronomy and entertainment, within a 15-minute walk or bike ride from their place of residence. The concept was created in 2016 and its author is Carlos Moreno, a Franco-Colombian university professor at the Paris Institute of Business Management.

Similar projects can be found, for example, in Utrecht, the Netherlands, where every resident should have all the necessary services within a quarter of an hour. . But they also have plans for a similar transformation of cities in the USA, China or Israel.

Colliers is a company providing services and investment management. It operates in 62 countries and employs 17,000 employees. It has been on the market for over 27 years and had revenues of $4.1 billion last year.