Passerinvest to invest CZK 21 billion in Prague development by 2029

Passerinvest Group has announced a long-term investment plan worth CZK 21 billion aimed at expanding and reshaping two major areas in Prague: Brumlovka and Roztyly. By the end of 2029, the developer intends to bring 180,000 square metres of new office, residential, and retail space to the market, alongside 5.5 hectares of revitalised public areas including parks, water features, and leisure zones.

The investment includes the construction of four new office buildings, two of which will also include a total of 200 rental apartments and commercial space. In addition, a separate residential project with 650 housing units for both sale and rent is planned. According to the company, this ongoing development will be the largest private investment in Prague 4 and is expected to contribute to the broader economic growth of the region.

A key part of the strategy was established in 2024 with the launch of the Hila project in Brumlovka. Spanning 27,000 square metres, this development combines office space, rental housing, and retail in a horizontally structured format. Completion is expected between late 2026 and early 2027.

The company has also received a building permit for Orion, a 28,000 square metre mixed-use building in Brumlovka. The structure, currently in the early stages of construction, will integrate office, residential, and retail spaces. Sustainability features include heat pumps, geothermal boreholes, photovoltaics, and advanced air ventilation systems. The building will also feature green roof terraces and landscaped public areas, such as a new pedestrian corridor inspired by San Francisco’s Lombard Street. Orion is designed to meet LEED Platinum certification, PENB A rating, and EU Taxonomy requirements.

Passerinvest recently completed a major land acquisition in Brumlovka after 25 years of negotiations, paving the way for future office development and public space enhancements. The company also received the highest rating—three stars—from the American Fitwel certification system, making Brumlovka the first location in the EU to achieve this distinction. The certification, based on thousands of academic studies, recognises developments that promote user well-being, environmental sustainability, and accessible urban infrastructure.

In addition to Brumlovka, Passerinvest is continuing development in Roztyly. In 2024, it completed the 23,000 square metre Roztyly Plaza office building and secured a permit for the 33,000 square metre Sequoia building, which is now under construction. Sequoia will offer eleven floors of office space and integrate energy-efficient technologies such as pumped-storage heat systems, heat pumps, radiant ceilings, air ionisers, and photovoltaics.

A residential component, the Arboretum project, is also planned in Roztyly, providing approximately 400 apartments for sale and 250 for rent. Across both locations, the developer will enhance 5.5 hectares of public areas with parks, sports fields, playgrounds, and water features, aligning with the goal of creating accessible, multi-functional urban districts.

Eduard Forejt, Business Development Director at Passerinvest, highlighted that tenants and residents increasingly prioritise high-quality working environments, flexible space usage, and access to a full range of amenities. The company’s developments are designed to accommodate these needs by offering integrated solutions for work, living, recreation, and education within a single urban framework.