Dunaj Palace by ZEITGEIST wins Best Legacy Development at HOF Awards 2025

At the 2025 Hall of Fame (HOF) Awards, Dunaj Palace in Prague, meticulously restored by ZEITGEIST Asset Management, was awarded the “Best of the Best Legacy (Reconstruction) Development of the Year.” This prestigious recognition celebrates exceptional restoration projects that harmoniously blend historical preservation with contemporary functionality.

Originally constructed in 1930 for the Austrian insurance company Donau, Dunaj Palace stands as a prime example of Constructivist architecture, designed by renowned architect Adolf Foehr. Situated at the intersection of Národní and Voršilská Streets in Prague’s UNESCO-listed heritage zone, the building has long been a significant cultural and historical landmark.

ZEITGEIST Asset Management undertook a comprehensive renovation of the nearly century-old structure, aiming to restore its First Republic elegance while integrating modern technologies. The refurbishment, completed in late 2023, preserved key historical elements such as the distinctive beige travertine façade, the central atrium with its original paternoster elevator, and terrazzo flooring. A new sloping terrace was added, seamlessly blending with the building’s original design. The project also focused on sustainability, achieving LEED Gold and WELL Gold certifications, reflecting its commitment to environmental standards.

The revitalized Dunaj Palace offers over 6,700 square meters of premium office space and 2,000 square meters dedicated to retail and services. Notably, it now houses the European Commission’s Representation and the European Parliament Liaison Office in the Czech Republic. These institutions have established a 15-year lease, occupying approximately 2,600 square meters, including a public “Europa Experience” center designed to engage citizens with interactive exhibits about the European Union.

Peter Noack, CEO of ZEITGEIST Asset Management, expressed pride in the project, stating, “Our aim was to return the Danube Palace to its First Republic elegance and style, preserving its historic, refined Genius Loci while equipping the building with the most modern technologies of today.” The successful restoration of Dunaj Palace not only revitalizes a historic structure but also sets a benchmark for sustainable and respectful urban redevelopment.